Cascade Investment Group Inc. Acquires New Holdings in Shake Shack Inc. (NYSE:SHAK)

Cascade Investment Group Inc. bought a new position in shares of Shake Shack Inc. (NYSE:SHAK) in the fourth quarter, HoldingsChannel.com reports. The firm bought 1,706 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SHAK. Xponance Inc. lifted its stake in shares of Shake Shack by 4.5% during the 2nd quarter. Xponance Inc. now owns 2,395 shares of the company’s stock worth $216,000 after purchasing an additional 103 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Shake Shack by 0.4% in the third quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company’s stock worth $3,241,000 after purchasing an additional 139 shares in the last quarter. Glenmede Trust Co. NA lifted its position in shares of Shake Shack by 1.5% during the third quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock valued at $1,372,000 after buying an additional 199 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Shake Shack by 41.6% in the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after buying an additional 205 shares in the last quarter. Finally, Amalgamated Bank grew its position in shares of Shake Shack by 1.8% in the 3rd quarter. Amalgamated Bank now owns 11,721 shares of the company’s stock worth $1,210,000 after buying an additional 211 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SHAK shares. Gordon Haskett raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a research report on Wednesday, January 8th. UBS Group increased their price objective on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Wedbush restated a “neutral” rating and set a $130.00 target price on shares of Shake Shack in a research note on Wednesday, January 15th. Stifel Nicolaus decreased their price target on Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $123.78.

Shake Shack Stock Performance

Shares of SHAK stock opened at $115.25 on Monday. The stock has a market cap of $4.90 billion, a PE ratio of 677.94, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. Shake Shack Inc. has a 52-week low of $66.06 and a 52-week high of $139.89. The business has a 50-day simple moving average of $128.97 and a 200-day simple moving average of $111.56. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $316.92 million during the quarter, compared to the consensus estimate of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. Shake Shack’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. On average, equities analysts expect that Shake Shack Inc. will post 0.82 EPS for the current year.

Insider Buying and Selling

In other news, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $121.79, for a total value of $3,653,700.00. Following the completion of the sale, the director now directly owns 407,646 shares in the company, valued at $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Katherine Irene Fogertey sold 642 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the transaction, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,333 shares of company stock valued at $6,566,330. Corporate insiders own 9.73% of the company’s stock.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.