Cooper Investors PTY Ltd. Decreases Stock Holdings in Shake Shack, Inc. $SHAK

Key Points

• Cooper Investors PTY Ltd. cut its Shake Shack position by 62% in the second quarter, selling 61,640 shares and retaining 37,763 shares worth approximately $2.1 million.
• Institutional investors own 86.07% of Shake Shack, while insiders have recently purchased 50,616 shares worth about $3.1 million, signaling some insider confidence despite mixed institutional activity.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $88.04, while several firms recently lowered targets and Zacks downgraded the shares to “Strong Sell.”

Cooper Investors PTY Ltd. lowered its position in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) by 62.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,763 shares of the company's stock after selling 61,640 shares during the period. Shake Shack accounts for approximately 1.0% of Cooper Investors PTY Ltd.'s portfolio, making the stock its 29th largest position. Cooper Investors PTY Ltd. owned 0.09% of Shake Shack worth $2,115,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Hilton Head Capital Partners LLC purchased a new stake in Shake Shack during the 4th quarter worth about $25,000. Geneos Wealth Management Inc. purchased a new position in shares of Shake Shack in the 1st quarter valued at about $26,000. Assetmark Inc. increased its holdings in shares of Shake Shack by 457.6% in the 4th quarter. Assetmark Inc. now owns 368 shares of the company's stock valued at $30,000 after acquiring an additional 302 shares during the last quarter. UMB Bank n.a. raised its position in shares of Shake Shack by 42.2% during the 4th quarter. UMB Bank n.a. now owns 391 shares of the company's stock worth $32,000 after acquiring an additional 116 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Shake Shack during the 3rd quarter worth about $38,000. Hedge funds and other institutional investors own 86.07% of the company's stock.

Insider Activity

In other Shake Shack news, Director Josh Silverman bought 8,290 shares of Shake Shack stock in a transaction dated Friday, May 15th. The stock was acquired at an average cost of $60.38 per share, with a total value of $500,550.20. Following the completion of the acquisition, the director owned 8,290 shares of the company's stock, valued at approximately $500,550.20. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sumaiya Balbale bought 4,068 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of $61.42 per share, with a total value of $249,856.56. Following the purchase, the director directly owned 13,407 shares of the company's stock, valued at approximately $823,457.94. This trade represents a 43.56% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 50,616 shares of company stock worth $3,109,782 over the last 90 days. 8.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SHAK. Mizuho lowered their price target on Shake Shack from $100.00 to $80.00 and set an "outperform" rating for the company in a report on Friday. BNP Paribas Exane cut their price objective on shares of Shake Shack from $100.00 to $77.00 and set an "outperform" rating on the stock in a report on Thursday, June 4th. Jefferies Financial Group reissued a "hold" rating and set a $66.00 price objective on shares of Shake Shack in a report on Tuesday, June 2nd. Zacks Research cut shares of Shake Shack from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 7th. Finally, Guggenheim dropped their target price on shares of Shake Shack from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, May 11th. Fifteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Shake Shack currently has an average rating of "Hold" and a consensus target price of $88.04.

Shake Shack Stock Performance

Shares of SHAK opened at $66.29 on Wednesday. The company's 50 day simple moving average is $58.15 and its 200-day simple moving average is $78.42. The firm has a market cap of $2.84 billion, a PE ratio of 67.64, a price-to-earnings-growth ratio of 5.15 and a beta of 1.63. Shake Shack, Inc. has a 12-month low of $51.60 and a 12-month high of $117.60. The company has a current ratio of 1.69, a quick ratio of 1.66 and a debt-to-equity ratio of 0.45.

About Shake Shack

Shake Shack, Inc NYSE: SHAK is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City's Madison Square Park in 2001 by Danny Meyer's Union Square Hospitality Group.

Want to see what other hedge funds are holding SHAK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shake Shack, Inc. (NYSE:SHAK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source