Keybank National Association OH Raises Stock Position in Shake Shack Inc. (NYSE:SHAK)

Keybank National Association OH grew its holdings in shares of Shake Shack Inc. (NYSE:SHAK) by 30.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,977 shares of the company’s stock after purchasing an additional 1,399 shares during the quarter. Keybank National Association OH’s holdings in Shake Shack were worth $776,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHAK. Transcendent Capital Group LLC acquired a new stake in Shake Shack during the 4th quarter worth $52,000. R Squared Ltd acquired a new stake in Shake Shack during the 4th quarter worth $56,000. Covestor Ltd boosted its stake in Shake Shack by 41.6% during the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after purchasing an additional 205 shares during the last quarter. Quest Partners LLC boosted its stake in Shake Shack by 76.1% during the 3rd quarter. Quest Partners LLC now owns 752 shares of the company’s stock worth $78,000 after purchasing an additional 325 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Shake Shack during the 4th quarter worth $93,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SHAK. Oppenheimer lifted their target price on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Truist Financial boosted their price target on shares of Shake Shack from $143.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, February 21st. TD Securities reissued a “buy” rating and set a $140.00 price target on shares of Shake Shack in a research report on Friday, February 21st. Gordon Haskett raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target on the stock in a research report on Wednesday, January 8th. Finally, UBS Group boosted their price target on shares of Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Shake Shack currently has a consensus rating of “Hold” and an average target price of $125.50.

Insider Activity

In related news, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the completion of the sale, the chief financial officer now owns 30,717 shares in the company, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 9.73% of the company’s stock.

Shake Shack Trading Down 1.0 %

Shares of SHAK stock opened at $92.64 on Friday. Shake Shack Inc. has a fifty-two week low of $77.50 and a fifty-two week high of $139.89. The stock has a market cap of $3.94 billion, a P/E ratio of 402.78 and a beta of 1.89. The business has a fifty day simple moving average of $116.52 and a 200-day simple moving average of $116.43. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. The business had revenue of $328.68 million during the quarter, compared to analysts’ expectations of $329.02 million. On average, analysts forecast that Shake Shack Inc. will post 1.26 earnings per share for the current fiscal year.

About Shake Shack

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.