Geode Capital Management LLC Purchases 26,620 Shares of Shake Shack Inc. (NYSE:SHAK)

Geode Capital Management LLC grew its position in shares of Shake Shack Inc. (NYSE:SHAK - Free Report) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 876,380 shares of the company's stock after purchasing an additional 26,620 shares during the quarter. Geode Capital Management LLC owned approximately 2.06% of Shake Shack worth $90,470,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Shake Shack by 5.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,855 shares of the company's stock valued at $347,000 after purchasing an additional 212 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Shake Shack by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the company's stock valued at $1,701,000 after buying an additional 300 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Shake Shack by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 300,539 shares of the company's stock worth $27,048,000 after buying an additional 4,201 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Shake Shack by 3.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,340 shares of the company's stock valued at $751,000 after acquiring an additional 274 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in Shake Shack by 35.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 114,054 shares of the company's stock valued at $10,265,000 after acquiring an additional 29,952 shares during the period. 86.07% of the stock is owned by hedge funds and other institutional investors.

Shake Shack Stock Down 0.6 %

Shares of NYSE:SHAK traded down $0.76 during trading on Friday, hitting $128.87. The stock had a trading volume of 837,227 shares, compared to its average volume of 925,340. 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 Inc. has a 12 month low of $64.16 and a 12 month high of $139.89. The company has a market capitalization of $5.47 billion, a PE ratio of 758.06, a PEG ratio of 2.83 and a beta of 1.85. The firm's fifty day moving average is $124.04 and its 200 day moving average is $105.76.

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

Analysts Set New Price Targets

Several research firms recently issued reports on SHAK. Barclays lifted their price target on Shake Shack from $115.00 to $125.00 and gave the stock an "equal weight" rating in a research note 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. Truist Financial upped their price target on shares of Shake Shack from $144.00 to $147.00 and gave the company a "buy" rating in a report on Thursday. TD Cowen reissued a "buy" rating and set a $125.00 price target on shares of Shake Shack in a research report on Wednesday, September 18th. Finally, Oppenheimer boosted their price objective on shares of Shake Shack from $122.00 to $135.00 and gave the company an "outperform" rating in a research report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Shake Shack has a consensus rating of "Hold" and a consensus target price of $113.12.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 22,691 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total value of $2,824,348.77. Following the completion of the sale, the director now directly owns 437,646 shares in the company, valued at $54,473,797.62. This represents a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the transaction, the chief financial officer now directly owns 36,180 shares in the company, valued at approximately $3,760,187.40. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,754 shares of company stock valued at $7,711,497. 9.73% of the stock is 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.