BNP Paribas Financial Markets Buys 8,606 Shares of Shake Shack Inc. (NYSE:SHAK)

BNP Paribas Financial Markets lifted its holdings in Shake Shack Inc. (NYSE:SHAK - Free Report) by 30.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,588 shares of the company's stock after acquiring an additional 8,606 shares during the period. BNP Paribas Financial Markets owned approximately 0.09% of Shake Shack worth $3,776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hsbc Holdings PLC boosted its stake in Shake Shack by 303.3% during the second quarter. Hsbc Holdings PLC now owns 16,604 shares of the company's stock worth $1,460,000 after acquiring an additional 12,487 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Shake Shack by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 354,114 shares of the company's stock valued at $36,548,000 after buying an additional 16,097 shares during the period. GDS Wealth Management bought a new stake in Shake Shack in the 3rd quarter valued at about $417,000. Qsemble Capital Management LP acquired a new position in Shake Shack during the 2nd quarter worth approximately $661,000. Finally, Jennison Associates LLC boosted its holdings in Shake Shack by 10.8% in the third quarter. Jennison Associates LLC now owns 294,111 shares of the company's stock worth $30,355,000 after acquiring an additional 28,661 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Katherine Irene Fogertey sold 321 shares of the company's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the sale, the chief financial officer now owns 36,180 shares of the company's stock, valued at approximately $3,760,187.40. This represents a 0.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the transaction, the director now directly owns 407,646 shares in the company, valued at approximately $49,647,206.34. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,112 shares of company stock worth $7,623,215. 9.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Truist Financial increased their target price on Shake Shack from $127.00 to $144.00 and gave the stock a "buy" rating in a report on Friday, November 1st. TD Cowen reaffirmed a "buy" rating and issued a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, September 18th. Barclays boosted their target price on shares of Shake Shack from $115.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. restated an "underweight" rating and issued a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Finally, Piper Sandler downgraded Shake Shack from an "overweight" rating to a "neutral" rating and cut their price target for the company from $121.00 to $114.00 in a research note on Monday, August 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $112.94.

Shake Shack Price Performance

NYSE SHAK traded up $4.21 during trading on Thursday, reaching $137.64. The company's stock had a trading volume of 779,349 shares, compared to its average volume of 933,460. The firm has a fifty day moving average of $118.79 and a 200 day moving average of $103.27. Shake Shack Inc. has a one year low of $60.84 and a one year high of $138.60. The stock has a market capitalization of $5.85 billion, a PE ratio of 809.65, a P/E/G ratio of 2.85 and a beta of 1.85. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The company had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. Shake Shack's revenue was up 14.7% on a year-over-year basis. Analysts expect that Shake Shack Inc. will post 0.82 EPS for the current fiscal year.

Shake Shack Company 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.