Shake Shack, Inc. $SHAK Shares Purchased by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. increased its stake in Shake Shack by 51.2%, owning approximately $15.84 million worth of shares after acquiring an additional 60,802 shares during the first quarter.
• Institutional investors control 86.07% of Shake Shack's stock, with several firms significantly boosting their holdings in the company during the same quarter.
• Shake Shack's stock received multiple upgrades from analysts, with Oppenheimer and Goldman Sachs setting target prices of $160.00 and $145.00, respectively, reflecting positive sentiment towards the company's performance.

Panagora Asset Management Inc. lifted its position in Shake Shack, Inc. (NYSE:SHAK - Free Report) by 51.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 179,635 shares of the company's stock after acquiring an additional 60,802 shares during the quarter. Panagora Asset Management Inc. owned 0.42% of Shake Shack worth $15,838,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SHAK. Farther Finance Advisors LLC raised its holdings in shares of Shake Shack by 939.3% in the 1st quarter. Farther Finance Advisors LLC now owns 291 shares of the company's stock valued at $26,000 after purchasing an additional 263 shares in the last quarter. Garde Capital Inc. acquired a new position in Shake Shack during the 1st quarter valued at approximately $35,000. Princeton Global Asset Management LLC purchased a new stake in shares of Shake Shack in the 1st quarter valued at $44,000. Cooper Investors PTY Ltd. purchased a new stake in shares of Shake Shack in the 1st quarter valued at $44,000. Finally, SRH Advisors LLC purchased a new stake in Shake Shack during the first quarter worth $44,000. Institutional investors own 86.07% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Shake Shack from $100.00 to $110.00 and gave the stock an "underweight" rating in a report on Wednesday, June 25th. Bank of America upped their price objective on shares of Shake Shack from $134.00 to $148.00 and gave the company a "neutral" rating in a report on Friday, July 18th. The Goldman Sachs Group increased their target price 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. Jefferies Financial Group cut Shake Shack from a "hold" rating to an "underperform" rating and raised their target price for the company from $100.00 to $120.00 in a report on Thursday, July 17th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $160.00 price objective (up from $125.00) on shares of Shake Shack in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Shake Shack currently has a consensus rating of "Hold" and an average price target of $133.05.

Insider Activity

In other Shake Shack news, CFO Katherine Irene Fogertey sold 670 shares of the company'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 transaction, the chief financial officer directly owned 32,495 shares in the company, valued at approximately $4,550,274.85. This represents a 2.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Harris Meyer sold 14,200 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $140.31, for a total transaction of $1,992,402.00. Following the completion of the transaction, the director owned 337,984 shares in the company, valued at approximately $47,422,535.04. This trade represents a 4.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,211 shares of company stock worth $9,247,216 over the last quarter. Insiders own 8.50% of the company's stock.

Shake Shack Stock Performance

SHAK traded down $0.29 during trading on Wednesday, hitting $105.30. The stock had a trading volume of 1,071,374 shares, compared to its average volume of 1,447,963. The firm has a market capitalization of $4.50 billion, a P/E ratio of 228.92, a PEG ratio of 2.42 and a beta of 1.68. Shake Shack, Inc. has a twelve month low of $72.93 and a twelve month high of $144.65. The company's 50-day moving average price is $123.60 and its 200 day moving average price is $110.52. 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 issued its earnings results on Thursday, July 31st. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.37 by $0.07. The company had revenue of $356.47 million for the quarter, compared to analyst estimates of $352.56 million. Shake Shack had a net margin of 1.50% and a return on equity of 9.78%. The business's revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS. Shake Shack has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities research analysts forecast that Shake Shack, Inc. will post 1.26 EPS for the current fiscal 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.