Natixis Advisors LLC Sells 3,812 Shares of Shake Shack, Inc. (NYSE:SHAK)

Key Points

• Natixis Advisors LLC has reduced its stake in Shake Shack, Inc. by 19.6% in Q1, bringing its holdings to approximately $1.38 million.
• Several institutional investors, including Invesco Ltd. and Balyasny Asset Management, have increased their positions in Shake Shack, indicating strong interest from big investors.
• Shake Shack reported a 12.6% year-over-year increase in revenue for the last quarter, achieving an EPS of $0.44, exceeding analysts' expectations of $0.37.

Natixis Advisors LLC lessened its stake in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) by 19.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,595 shares of the company's stock after selling 3,812 shares during the period. Natixis Advisors LLC's holdings in Shake Shack were worth $1,375,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of SHAK. Bayforest Capital Ltd grew its position in shares of Shake Shack by 107.9% in the first quarter. Bayforest Capital Ltd now owns 3,767 shares of the company's stock valued at $332,000 after purchasing an additional 1,955 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Shake Shack in the first quarter valued at approximately $617,000. LPL Financial LLC grew its position in shares of Shake Shack by 4.4% in the first quarter. LPL Financial LLC now owns 19,886 shares of the company's stock valued at $1,753,000 after purchasing an additional 829 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Shake Shack by 1.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,367 shares of the company's stock valued at $914,000 after purchasing an additional 133 shares during the last quarter. Finally, Van Berkom & Associates Inc. grew its position in shares of Shake Shack by 19.0% in the first quarter. Van Berkom & Associates Inc. now owns 785,594 shares of the company's stock valued at $69,266,000 after purchasing an additional 125,357 shares during the last quarter. Institutional investors own 86.07% of the company's stock.

Insider Transactions at Shake Shack

In other news, Director Daniel Harris Meyer sold 14,200 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $140.31, for a total value of $1,992,402.00. Following the completion of the sale, the director directly owned 337,984 shares in the company, valued at $47,422,535.04. This trade represents a 4.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Katherine Irene Fogertey sold 670 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $140.03, for a total value of $93,820.10. Following the completion of the sale, the chief financial officer owned 32,495 shares of the company's stock, valued at approximately $4,550,274.85. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,211 shares of company stock valued at $11,849,216. Company insiders own 8.50% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SHAK shares. Stifel Nicolaus reduced their price target on Shake Shack from $120.00 to $97.00 and set a "hold" rating on the stock in a research report on Tuesday, April 15th. Jefferies Financial Group cut Shake Shack from a "hold" rating to an "underperform" rating and upped their target price for the stock from $100.00 to $120.00 in a research note on Thursday, July 17th. Truist Financial increased their price target on Shake Shack from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. TD Securities reiterated a "hold" rating and issued a $105.00 price target on shares of Shake Shack in a research note on Thursday, June 26th. Finally, TD Cowen increased their price target on Shake Shack from $105.00 to $110.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $131.29.

Shake Shack Trading Down 1.9%

Shake Shack stock traded down $2.12 during trading hours on Wednesday, reaching $108.20. 1,792,571 shares of the company's stock were exchanged, compared to its average volume of 1,485,453. The company has a quick ratio of 1.89, a current ratio of 1.92 and a debt-to-equity ratio of 0.48. The firm's 50 day simple moving average is $130.56 and its 200 day simple moving average is $111.50. Shake Shack, Inc. has a twelve month low of $72.93 and a twelve month high of $144.65. The firm has a market capitalization of $4.62 billion, a PE ratio of 235.22, a PEG ratio of 2.41 and a beta of 1.82.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.07. Shake Shack had a return on equity of 9.78% and a net margin of 1.50%. The firm had revenue of $356.47 million during the quarter, compared to the consensus estimate of $352.56 million. During the same period last year, the business posted $0.27 EPS. The business's revenue was up 12.6% compared to the same quarter last year. Research analysts predict 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.