Shake Shack, Inc. (NYSE:SHAK) Position Increased by D.A. Davidson & CO.

D.A. Davidson & CO. grew its position in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) by 260.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,737 shares of the company's stock after purchasing an additional 7,037 shares during the period. D.A. Davidson & CO.'s holdings in Shake Shack were worth $859,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of 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 worth $26,000 after purchasing an additional 263 shares during the last quarter. Nemes Rush Group LLC acquired a new stake in shares of Shake Shack during the 4th quarter worth about $29,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Shake Shack in the fourth quarter worth approximately $32,000. Garde Capital Inc. acquired a new stake in shares of Shake Shack in the first quarter worth approximately $35,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Shake Shack in the first quarter worth approximately $44,000. 86.07% of the stock is owned by institutional investors and hedge funds.

Shake Shack Stock Down 1.3%

Shares of NYSE SHAK traded down $1.89 during trading on Friday, reaching $140.14. 324,658 shares of the stock were exchanged, compared to its average volume of 1,204,128. The business's 50-day moving average price is $124.93 and its 200 day moving average price is $111.43. Shake Shack, Inc. has a twelve month low of $72.93 and a twelve month high of $144.65. The company has a quick ratio of 1.88, a current ratio of 1.91 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 499.81, a price-to-earnings-growth ratio of 3.33 and a beta of 1.77.

Shake Shack (NYSE:SHAK - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.02). Shake Shack had a return on equity of 8.45% and a net margin of 0.97%. The firm had revenue of $320.90 million for the quarter, compared to analyst estimates of $330.24 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The company's revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities analysts forecast that Shake Shack, Inc. will post 1.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on SHAK. Truist Financial raised their target price on shares of Shake Shack from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday. The Goldman Sachs Group raised their target price on shares of Shake Shack from $120.00 to $145.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Oppenheimer reissued an "outperform" rating and issued a $160.00 target price (up from $125.00) on shares of Shake Shack in a research report on Thursday, June 26th. Bank of America raised their target price on shares of Shake Shack from $112.00 to $134.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of Shake Shack from $100.00 to $110.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $124.90.

Insiders Place Their Bets

In related news, Director Daniel Harris Meyer sold 14,200 shares of Shake Shack stock in a transaction on Wednesday, July 2nd. The shares were 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 owned 337,984 shares in the company, valued at approximately $47,422,535.04. The trade was a 4.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Katherine Irene Fogertey sold 670 shares of Shake Shack stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $140.03, for a total transaction 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 trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,391 shares of company stock valued at $11,869,925. Insiders own 9.73% of the company's stock.

About Shake Shack

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.