Alta Wealth Advisors LLC Acquires Shares of 2,622 Shake Shack, Inc. (NYSE:SHAK)

Alta Wealth Advisors LLC bought a new position in Shake Shack, Inc. (NYSE:SHAK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,622 shares of the company's stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in Shake Shack by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 361,930 shares of the company's stock worth $46,979,000 after buying an additional 8,429 shares during the period. Janus Henderson Group PLC increased its position in shares of Shake Shack by 6.2% during the fourth quarter. Janus Henderson Group PLC now owns 17,064 shares of the company's stock worth $2,216,000 after acquiring an additional 1,000 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of Shake Shack during the fourth quarter worth approximately $260,000. GAMMA Investing LLC raised its stake in shares of Shake Shack by 13,353.1% during the first quarter. GAMMA Investing LLC now owns 99,015 shares of the company's stock valued at $8,730,000 after acquiring an additional 98,279 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Shake Shack in the first quarter valued at approximately $1,167,000. 86.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Stifel Nicolaus reduced their price objective on Shake Shack from $120.00 to $97.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. Sanford C. Bernstein set a $166.00 price objective on Shake Shack and gave the company an "overweight" rating in a report on Thursday. The Goldman Sachs Group upped their price objective on shares of Shake Shack from $120.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Wells Fargo & Company raised their target price on shares of Shake Shack from $95.00 to $115.00 and gave the company an "equal weight" rating in a research report on Friday, May 30th. Finally, Truist Financial boosted their price target on shares of Shake Shack from $134.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $123.95.

Insider Buying and Selling

In related news, CFO Katherine Irene Fogertey sold 562 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $124.84, for a total value of $70,160.08. Following the completion of the transaction, the chief financial officer now owns 35,188 shares in the company, valued at $4,392,869.92. This trade represents a 1.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel Harris Meyer sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $130.26, for a total transaction of $1,302,600.00. Following the transaction, the director now directly owns 386,636 shares of the company's stock, valued at $50,363,205.36. This represents a 2.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,698 shares of company stock worth $4,499,820 in the last three months. Corporate insiders own 9.73% of the company's stock.

Shake Shack Stock Up 3.4%

Shake Shack stock opened at $138.46 on Friday. Shake Shack, Inc. has a 1-year low of $72.93 and a 1-year high of $140.97. The business has a fifty day moving average price of $114.37 and a 200-day moving average price of $110.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.91 and a quick ratio of 1.88. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 494.50, a PEG ratio of 3.17 and a beta of 1.77.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). Shake Shack had a return on equity of 8.45% and a net margin of 0.97%. The business had revenue of $320.90 million during the quarter, compared to analyst estimates of $330.24 million. During the same period in the prior year, the business posted $0.13 EPS. Shake Shack's revenue was up 10.5% compared to the same quarter last year. Equities research analysts forecast that Shake Shack, Inc. will post 1.26 EPS for the current fiscal year.

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.

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