Intech Investment Management LLC Has $3.54 Million Position in Shake Shack Inc. (NYSE:SHAK)

Intech Investment Management LLC raised its holdings in Shake Shack Inc. (NYSE:SHAK) by 396.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,303 shares of the company’s stock after acquiring an additional 27,389 shares during the quarter. Intech Investment Management LLC’s holdings in Shake Shack were worth $3,540,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SHAK. Quest Partners LLC acquired a new stake in shares of Shake Shack in the 2nd quarter valued at $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Shake Shack in the third quarter worth about $41,000. Kimelman & Baird LLC bought a new stake in shares of Shake Shack during the 2nd quarter worth about $45,000. Covestor Ltd increased its holdings in shares of Shake Shack by 41.6% during the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after acquiring an additional 205 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after acquiring an additional 207 shares in the last quarter. 86.07% of the stock is owned by institutional investors.

Shake Shack Price Performance

Shares of SHAK stock opened at $123.01 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. The stock’s fifty day simple moving average is $113.75 and its 200 day simple moving average is $101.38. Shake Shack Inc. has a one year low of $59.92 and a one year high of $134.90. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 723.59, a P/E/G ratio of 2.78 and a beta of 1.81.

Shake Shack (NYSE:SHAK) last issued its earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. The company had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. On average, analysts expect that Shake Shack Inc. will post 0.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. TD Cowen reaffirmed a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research report on Wednesday, September 18th. Piper Sandler lowered shares of Shake Shack from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $121.00 to $114.00 in a research report on Monday, August 19th. Capital One Financial assumed coverage on Shake Shack in a research report on Monday, July 29th. They issued an “overweight” rating and a $95.00 price target on the stock. Robert W. Baird increased their target price on Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Bank of America upped their price target on Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Two investment 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $112.94.

Insiders Place Their Bets

In related news, Director Daniel Harris Meyer sold 22,691 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the transaction, the director now owns 437,646 shares in the company, valued at $54,473,797.62. This represents a 4.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm’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 sale, the chief financial officer now owns 36,180 shares of the company’s stock, valued at $3,760,187.40. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,433 shares of company stock valued at $7,654,856. 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.