Shake Shack, Inc. (NYSE:SHAK) Holdings Boosted by KBC Group NV

KBC Group NV boosted its position in Shake Shack, Inc. (NYSE:SHAK - Free Report) by 4,087.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,754 shares of the company's stock after buying an additional 73,945 shares during the quarter. KBC Group NV owned 0.18% of Shake Shack worth $6,679,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SHAK. Farther Finance Advisors LLC boosted its stake in shares of Shake Shack by 939.3% during the 1st quarter. Farther Finance Advisors LLC now owns 291 shares of the company's stock valued at $26,000 after buying an additional 263 shares during the last quarter. Nemes Rush Group LLC bought a new position in Shake Shack during the 4th quarter valued at $29,000. Harvest Fund Management Co. Ltd acquired a new position in Shake Shack during the 4th quarter worth $32,000. Garde Capital Inc. bought a new stake in shares of Shake Shack in the 1st quarter worth about $35,000. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Shake Shack in the 1st quarter worth about $44,000. 86.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 transaction of $2,801,400.00. Following the completion of the sale, the director directly owned 367,984 shares of the company's stock, valued at $51,543,518.88. This trade represents a 5.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Katherine Irene Fogertey sold 562 shares of the business'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 sale, the chief financial officer directly owned 35,188 shares in the company, valued at $4,392,869.92. This trade represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,698 shares of company stock worth $7,301,220 over the last quarter. Insiders own 9.73% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Sanford C. Bernstein set a $166.00 price target on shares of Shake Shack and gave the stock an "overweight" rating in a research report on Thursday, June 26th. The Goldman Sachs Group lifted their target price on Shake Shack from $120.00 to $145.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Oppenheimer restated 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. Truist Financial boosted their target price on shares of Shake Shack from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, KeyCorp assumed coverage on shares of Shake Shack in a research report on Monday, June 2nd. They issued a "sector weight" rating on the stock. 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $124.43.

Shake Shack Price Performance

Shares of SHAK stock traded up $3.05 during midday trading on Wednesday, reaching $141.43. 1,406,457 shares of the company were exchanged, compared to its average volume of 1,199,911. The company's 50 day moving average price is $117.69 and its two-hundred day moving average price is $110.74. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.88 and a current ratio of 1.91. The company has a market cap of $6.03 billion, a P/E ratio of 505.11, a PEG ratio of 3.32 and a beta of 1.77. Shake Shack, Inc. has a 12 month low of $72.93 and a 12 month high of $141.61.

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 (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). Shake Shack had a net margin of 0.97% and a return on equity of 8.45%. The firm had revenue of $320.90 million for the quarter, compared to analyst estimates of $330.24 million. During the same quarter last year, the business posted $0.13 earnings per share. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, sell-side analysts expect that Shake Shack, Inc. will post 1.26 earnings per share for the current year.

Shake Shack 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.