Barclays PLC Sells 170,218 Shares of Shake Shack Inc. (NYSE:SHAK)

Barclays PLC decreased its stake in Shake Shack Inc. (NYSE:SHAK - Free Report) by 70.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,027 shares of the company's stock after selling 170,218 shares during the quarter. Barclays PLC owned approximately 0.17% of Shake Shack worth $7,331,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in Shake Shack by 3.5% in the third quarter. State Street Corp now owns 1,452,736 shares of the company's stock valued at $149,937,000 after acquiring an additional 49,324 shares in the last quarter. Point72 DIFC Ltd increased its holdings in Shake Shack by 20.0% during the 3rd quarter. Point72 DIFC Ltd now owns 6,906 shares of the company's stock worth $713,000 after purchasing an additional 1,153 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Shake Shack by 154.8% during the third quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company's stock valued at $67,157,000 after purchasing an additional 395,311 shares during the last quarter. Holocene Advisors LP raised its position in shares of Shake Shack by 68.3% during the 3rd quarter. Holocene Advisors LP now owns 946,350 shares of the company's stock worth $97,673,000 after buying an additional 384,131 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in Shake Shack in the 3rd quarter worth about $18,626,000. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 30,000 shares of the business's stock in a transaction on Friday, November 1st. The shares were 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 approximately $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the business's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total transaction of $33,361.53. Following the completion of the transaction, the chief financial officer now owns 36,180 shares in the company, valued at approximately $3,760,187.40. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,754 shares of company stock worth $7,711,497 in the last three months. 9.73% of the stock is owned by insiders.

Shake Shack Price Performance

SHAK traded up $3.73 on Thursday, reaching $129.63. 1,086,649 shares of the company's stock were exchanged, compared to its average volume of 925,698. Shake Shack Inc. has a twelve month low of $64.16 and a twelve month high of $139.89. The stock has a market cap of $5.51 billion, a PE ratio of 762.53, a P/E/G ratio of 2.83 and a beta of 1.85. The stock's fifty day moving average price is $123.29 and its 200-day moving average price is $105.45. 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 released its quarterly earnings results 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 firm had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. During the same quarter last year, the business posted $0.17 EPS. The firm's quarterly revenue was up 14.7% compared to the same quarter last year. Sell-side analysts expect that Shake Shack Inc. will post 0.82 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on SHAK. Truist Financial increased their price objective on Shake Shack from $144.00 to $147.00 and gave the company a "buy" rating in a research report on Thursday. Barclays raised their price target on Shake Shack from $115.00 to $125.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. TD Cowen reaffirmed a "buy" rating and set a $125.00 price target on shares of Shake Shack in a research report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $115.00 price objective on shares of Shake Shack in a research note on Wednesday, August 28th. Finally, Oppenheimer lifted their price target on Shake Shack from $122.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $113.12.

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.