Spire Wealth Management Boosts Stock Holdings in Shake Shack, Inc. (NYSE:SHAK)

Spire Wealth Management boosted its holdings in Shake Shack, Inc. (NYSE:SHAK - Free Report) by 881.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,982 shares of the company's stock after buying an additional 1,780 shares during the quarter. Spire Wealth Management's holdings in Shake Shack were worth $175,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cooper Investors PTY Ltd. bought a new position in shares of Shake Shack during the first quarter worth about $44,000. Cambridge Investment Research Advisors Inc. increased its position in Shake Shack by 157.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,957 shares of the company's stock valued at $525,000 after purchasing an additional 3,642 shares during the period. Garde Capital Inc. bought a new position in Shake Shack during the 1st quarter worth approximately $35,000. Janney Montgomery Scott LLC raised its holdings in Shake Shack by 74.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,636 shares of the company's stock worth $1,202,000 after purchasing an additional 5,840 shares during the last quarter. Finally, Tcfg Wealth Management LLC acquired a new position in shares of Shake Shack in the 1st quarter worth approximately $219,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHAK has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective 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. Barclays upped their price target on shares of Shake Shack from $102.00 to $166.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. TD Cowen lowered Shake Shack from a "buy" rating to a "hold" rating and set a $105.00 price objective for the company. in a research report on Monday, May 19th. Oppenheimer reissued 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. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $140.00 target price (down previously from $145.00) on shares of Shake Shack in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $124.43.

Shake Shack Stock Up 2.2%

Shares of Shake Shack stock traded up $3.05 on Wednesday, hitting $141.43. The company had a trading volume of 1,406,457 shares, compared to its average volume of 1,201,009. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 505.11, a P/E/G ratio of 3.27 and a beta of 1.77. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.88 and a current ratio of 1.91. Shake Shack, Inc. has a 1 year low of $72.93 and a 1 year high of $141.61. The stock has a 50 day moving average of $117.69 and a 200-day moving average of $110.74.

Shake Shack (NYSE:SHAK - Get Free Report) last released its quarterly 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). The company had revenue of $320.90 million during the quarter, compared to analysts' expectations of $330.24 million. Shake Shack had a net margin of 0.97% and a return on equity of 8.45%. The company's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 earnings per share. As a group, sell-side analysts forecast that Shake Shack, Inc. will post 1.26 earnings per share for the current year.

Insider Buying and Selling

In other Shake Shack news, CFO Katherine Irene Fogertey sold 562 shares of the company'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 completion of the transaction, the chief financial officer owned 35,188 shares in the company, valued at $4,392,869.92. This represents a 1.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Harris Meyer sold 20,000 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 367,984 shares in the company, valued at $51,543,518.88. This trade represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,698 shares of company stock valued at $7,301,220 over the last ninety days. 9.73% of the stock is currently owned by company insiders.

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.