Shake Shack Inc. (NYSE:SHAK) Shares Purchased by Truist Financial Corp

Truist Financial Corp boosted its position in Shake Shack Inc. (NYSE:SHAKGet Rating) by 2.6% in the 3rd quarter, Holdings Channel reports. The firm owned 12,096 shares of the company’s stock after acquiring an additional 305 shares during the quarter. Truist Financial Corp’s holdings in Shake Shack were worth $544,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC raised its stake in Shake Shack by 4.1% in the 2nd quarter. DAVENPORT & Co LLC now owns 6,334 shares of the company’s stock valued at $250,000 after purchasing an additional 249 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Shake Shack by 4.1% in the 2nd quarter. Victory Capital Management Inc. now owns 6,438 shares of the company’s stock worth $254,000 after acquiring an additional 255 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of Shake Shack by 6.6% in the 1st quarter. Baird Financial Group Inc. now owns 4,349 shares of the company’s stock worth $295,000 after acquiring an additional 271 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in shares of Shake Shack by 2.0% in the 2nd quarter. Maryland State Retirement & Pension System now owns 16,008 shares of the company’s stock worth $632,000 after acquiring an additional 313 shares during the last quarter. Finally, Madison Asset Management LLC increased its stake in shares of Shake Shack by 0.6% in the 2nd quarter. Madison Asset Management LLC now owns 56,927 shares of the company’s stock worth $2,247,000 after acquiring an additional 354 shares during the last quarter. 83.55% of the stock is owned by institutional investors and hedge funds.

Shake Shack Price Performance

Shake Shack stock opened at $54.75 on Monday. The firm has a market cap of $2.31 billion, a PE ratio of -92.80 and a beta of 1.58. Shake Shack Inc. has a 52-week low of $37.72 and a 52-week high of $79.25. The company has a quick ratio of 2.51, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $48.93 and its two-hundred day moving average is $48.73.

Shake Shack (NYSE:SHAKGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). Shake Shack had a negative net margin of 2.67% and a negative return on equity of 3.52%. The company had revenue of $227.81 million for the quarter, compared to the consensus estimate of $226.79 million. On average, research analysts expect that Shake Shack Inc. will post -0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SHAK has been the subject of a number of recent research reports. Credit Suisse Group cut their target price on Shake Shack from $61.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, November 7th. Wedbush downgraded Shake Shack from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $58.00 to $49.00 in a research report on Wednesday, December 21st. Barclays cut their price objective on Shake Shack from $46.00 to $42.00 and set an “equal weight” rating for the company in a research report on Thursday, January 5th. Deutsche Bank Aktiengesellschaft raised their price objective on Shake Shack from $53.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, November 7th. Finally, Morgan Stanley downgraded Shake Shack from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $50.00 to $47.00 in a research report on Tuesday, January 17th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Shake Shack currently has an average rating of “Hold” and an average target price of $58.21.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, COO Zach Koff sold 3,900 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $55.00, for a total value of $214,500.00. Following the sale, the chief operating officer now directly owns 31,085 shares of the company’s stock, valued at approximately $1,709,675. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 9.98% of the company’s stock.

Shake Shack Company Profile

(Get Rating)

Shake Shack, Inc operates as a holding company. The firm engages in operating fast food hamburger restaurants. It offers beef burgers, flat-top dogs, chicken sandwiches, frozen custard and crinkle cut fries and includes all the mobile ordering essentials. The company was founded by Daniel Harris Meyer on September 23, 2014 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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