Cetera Investment Advisers Purchases 2,859 Shares of Shake Shack, Inc. $SHAK

Key Points

• Cetera Investment Advisers significantly increased its holdings in Shake Shack, purchasing an additional 2,859 shares and raising its position by 145.9% in the first quarter, bringing its total to 4,819 shares valued at approximately $425,000.
• Shake Shack's latest quarterly earnings report showed an EPS of $0.44, surpassing estimates, with revenue of $356.47 million, marking a 12.6% increase compared to the previous year.
• Currently, over 86% of Shake Shack's stock is held by institutional investors, highlighting strong institutional interest in the company.

Cetera Investment Advisers raised its position in Shake Shack, Inc. (NYSE:SHAK - Free Report) by 145.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,819 shares of the company's stock after purchasing an additional 2,859 shares during the quarter. Cetera Investment Advisers' holdings in Shake Shack were worth $425,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SHAK. Envestnet Asset Management Inc. raised its position in shares of Shake Shack by 8.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 10,289 shares of the company's stock worth $1,336,000 after acquiring an additional 790 shares during the last quarter. NewEdge Advisors LLC grew its stake in Shake Shack by 1,136.5% in the fourth quarter. NewEdge Advisors LLC now owns 2,065 shares of the company's stock valued at $268,000 after acquiring an additional 1,898 shares during the period. Canada Pension Plan Investment Board grew its stake in Shake Shack by 18.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 94,000 shares of the company's stock valued at $12,201,000 after acquiring an additional 14,900 shares during the period. First Trust Advisors LP boosted its position in shares of Shake Shack by 29.4% during the fourth quarter. First Trust Advisors LP now owns 49,936 shares of the company's stock valued at $6,482,000 after buying an additional 11,333 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Shake Shack by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 760,595 shares of the company's stock valued at $98,726,000 after buying an additional 19,320 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Stock Up 1.1%

Shares of NYSE:SHAK opened at $106.77 on Monday. Shake Shack, Inc. has a 52-week low of $72.93 and a 52-week high of $144.65. The firm has a market capitalization of $4.56 billion, a P/E ratio of 232.11, a P/E/G ratio of 2.43 and a beta of 1.82. The stock has a 50 day moving average price of $129.28 and a 200-day moving average price of $111.17. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.89 and a current ratio of 1.92.

Shake Shack (NYSE:SHAK - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.07. Shake Shack had a return on equity of 9.78% and a net margin of 1.50%. The company had revenue of $356.47 million for the quarter, compared to the consensus estimate of $352.56 million. During the same quarter in the prior year, the business posted $0.27 EPS. The firm's quarterly revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Shake Shack, Inc. will post 1.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SHAK shares. BTIG Research lowered Shake Shack from a "buy" rating to a "neutral" rating in a report on Monday, June 2nd. Oppenheimer reiterated an "outperform" rating and set a $160.00 price objective (up from $125.00) on shares of Shake Shack in a research note on Thursday, June 26th. Wells Fargo & Company boosted their target price on Shake Shack from $115.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Raymond James Financial reiterated a "strong-buy" rating and issued a $160.00 price objective (down from $165.00) on shares of Shake Shack in a report on Friday, August 1st. Finally, KeyCorp began coverage on Shake Shack in a report on Monday, June 2nd. They issued a "sector weight" rating for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $131.29.

Insiders Place Their Bets

In related news, Director Daniel Harris Meyer sold 20,000 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $140.07, for a total value of $2,801,400.00. Following the transaction, the director directly owned 367,984 shares of the company's stock, valued at approximately $51,543,518.88. This trade represents a 5.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Katherine Irene Fogertey sold 3,956 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $127.49, for a total value of $504,350.44. Following the completion of the transaction, the chief financial officer directly owned 35,750 shares in the company, valued at approximately $4,557,767.50. This represents a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,211 shares of company stock worth $11,849,216. Company insiders own 8.50% of the company's stock.

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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