Bank Hapoalim BM Sells 2,512 Shares of Shake Shack Inc. (NYSE:SHAK)

Bank Hapoalim BM cut its holdings in Shake Shack Inc. (NYSE:SHAK) by 14.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,353 shares of the company’s stock after selling 2,512 shares during the period. Bank Hapoalim BM’s holdings in Shake Shack were worth $1,481,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. New York State Teachers Retirement System increased its position in Shake Shack by 1.7% during the third quarter. New York State Teachers Retirement System now owns 39,025 shares of the company’s stock valued at $4,028,000 after acquiring an additional 650 shares during the last quarter. Strategic Blueprint LLC purchased a new stake in Shake Shack in the 3rd quarter worth about $228,000. Nisa Investment Advisors LLC lifted its stake in Shake Shack by 35.8% in the third quarter. Nisa Investment Advisors LLC now owns 3,110 shares of the company’s stock worth $321,000 after purchasing an additional 820 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Shake Shack by 3.2% during the third quarter. State of Alaska Department of Revenue now owns 22,816 shares of the company’s stock valued at $2,354,000 after buying an additional 708 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in shares of Shake Shack by 2.1% during the third quarter. Louisiana State Employees Retirement System now owns 19,300 shares of the company’s stock valued at $1,992,000 after buying an additional 400 shares during the period. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Shake Shack Stock Performance

SHAK stock traded up $1.98 during trading on Thursday, reaching $124.45. The company had a trading volume of 56,721 shares, compared to its average volume of 936,403. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 222.55, a price-to-earnings-growth ratio of 3.23 and a beta of 1.83. Shake Shack Inc. has a twelve month low of $54.06 and a twelve month high of $130.20. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.06. The firm has a 50-day simple moving average of $105.26 and a 200-day simple moving average of $98.32.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 earnings per share. As a group, sell-side analysts expect that Shake Shack Inc. will post 0.74 earnings per share for the current year.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.10, for a total transaction of $30,527.10. Following the completion of the transaction, the chief financial officer now directly owns 37,143 shares of the company’s stock, valued at approximately $3,532,299.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $95.10, for a total value of $30,527.10. Following the completion of the transaction, the chief financial officer now owns 37,143 shares of the company’s stock, valued at $3,532,299.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total value of $1,102,400.00. Following the transaction, the director now owns 470,437 shares of the company’s stock, valued at approximately $51,860,974.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,330 shares of company stock worth $2,429,690. 9.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SHAK. Truist Financial reissued a “buy” rating and set a $127.00 price target on shares of Shake Shack in a research note on Wednesday, August 28th. Capital One Financial assumed coverage on shares of Shake Shack in a research note on Monday, July 29th. They set an “overweight” rating and a $95.00 target price for the company. JPMorgan Chase & Co. restated an “underweight” rating and issued a $102.00 price target (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Robert W. Baird lifted their price objective on shares of Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group upped their target price on shares of Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Shake Shack has a consensus rating of “Hold” and a consensus price target of $108.50.

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.