Bank of New York Mellon Corp Sells 11,679 Shares of Shake Shack Inc. (NYSE:SHAK)

Bank of New York Mellon Corp cut its stake in Shake Shack Inc. (NYSE:SHAK - Free Report) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 257,876 shares of the company's stock after selling 11,679 shares during the period. Bank of New York Mellon Corp owned 0.61% of Shake Shack worth $33,472,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC bought a new position in shares of Shake Shack during the fourth quarter valued at approximately $52,000. R Squared Ltd bought a new position in shares of Shake Shack during the fourth quarter valued at approximately $56,000. Covestor Ltd increased its stake in shares of Shake Shack by 41.6% during the third quarter. Covestor Ltd now owns 698 shares of the company's stock valued at $72,000 after purchasing an additional 205 shares in the last quarter. Quest Partners LLC increased its stake in shares of Shake Shack by 76.1% during the third quarter. Quest Partners LLC now owns 752 shares of the company's stock valued at $78,000 after purchasing an additional 325 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Shake Shack by 56.3% during the fourth quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $96,000 after purchasing an additional 265 shares in the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus reduced their price target on shares of Shake Shack from $128.00 to $110.00 and set a "hold" rating for the company in a research report on Friday, January 17th. TD Securities reissued a "buy" rating and set a $140.00 price target on shares of Shake Shack in a research report on Friday, February 21st. Truist Financial raised their price target on shares of Shake Shack from $143.00 to $154.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Barclays raised shares of Shake Shack from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $125.00 to $159.00 in a research report on Tuesday, January 7th. Finally, Wedbush raised their price target on shares of Shake Shack from $115.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Shake Shack has a consensus rating of "Hold" and an average target price of $125.50.

Remove Ads

Shake Shack Stock Performance

Shares of Shake Shack stock traded down $0.96 on Friday, hitting $92.64. 1,720,047 shares of the company's stock were exchanged, compared to its average volume of 964,046. The company has a 50-day simple moving average of $116.52 and a 200-day simple moving average of $116.43. The stock has a market capitalization of $3.94 billion, a PE ratio of 402.78 and a beta of 1.89. Shake Shack Inc. has a 1 year low of $77.50 and a 1 year high of $139.89. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.98 and a current ratio of 1.97.

Shake Shack (NYSE:SHAK - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.01. The company had revenue of $328.68 million for the quarter, compared to analysts' expectations of $329.02 million. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. As a group, equities analysts anticipate that Shake Shack Inc. will post 1.26 EPS for the current year.

Insider Buying and Selling

In related news, CFO Katherine Irene Fogertey sold 642 shares of the company's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total value of $88,281.42. Following the completion of the transaction, the chief financial officer now owns 30,717 shares of the company's stock, valued at approximately $4,223,894.67. This represents a 2.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 9.73% of the stock is currently owned by insiders.

Shake Shack Profile

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.