Shake Shack, Inc. $SHAK Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP cut its Shake Shack stake by 56% in the second quarter, selling 29,130 shares and retaining 22,906 shares valued at approximately $1.28 million.
• Institutional ownership remains high at 86.07%, with several major investors—including Sei Investments, Bank of America, and Wasatch Advisors—adding to their positions.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $89.71. Shake Shack recently exceeded quarterly earnings expectations, reporting $0.43 per share on $417.62 million in revenue.

Corient Private Wealth LP decreased its position in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) by 56.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,906 shares of the company's stock after selling 29,130 shares during the quarter. Corient Private Wealth LP owned 0.05% of Shake Shack worth $1,283,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Intech Investment Management LLC lifted its holdings in Shake Shack by 40.1% in the 4th quarter. Intech Investment Management LLC now owns 77,916 shares of the company's stock valued at $6,324,000 after purchasing an additional 22,287 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Shake Shack by 187.7% during the first quarter. Sei Investments Co. now owns 41,683 shares of the company's stock worth $3,688,000 after buying an additional 27,194 shares in the last quarter. Fund 1 Investments LLC acquired a new position in shares of Shake Shack in the second quarter valued at approximately $840,000. Bank of America Corp DE raised its position in shares of Shake Shack by 9.3% in the first quarter. Bank of America Corp DE now owns 899,013 shares of the company's stock valued at $79,536,000 after buying an additional 76,724 shares during the last quarter. Finally, Wasatch Advisors LP lifted its stake in shares of Shake Shack by 16.5% during the first quarter. Wasatch Advisors LP now owns 407,283 shares of the company's stock valued at $36,032,000 after buying an additional 57,612 shares during the period. Institutional investors and hedge funds own 86.07% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. TD Cowen reissued a "hold" rating on shares of Shake Shack in a research note on Wednesday, August 5th. Robert W. Baird upgraded shares of Shake Shack to a "hold" rating in a report on Monday, August 24th. UBS Group decreased their target price on shares of Shake Shack from $79.00 to $68.00 and set a "neutral" rating on the stock in a research report on Monday, August 3rd. Royal Bank Of Canada assumed coverage on shares of Shake Shack in a report on Tuesday, September 8th. They issued an "outperform" rating and a $89.00 target price for the company. Finally, Morgan Stanley set a $74.00 price target on shares of Shake Shack in a research note on Thursday, August 6th. Sixteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $89.71.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $55.61 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.43. Shake Shack, Inc. has a fifty-two week low of $51.60 and a fifty-two week high of $107.46. The business has a 50 day moving average price of $65.66 and a two-hundred day moving average price of $71.52. The firm has a market cap of $2.38 billion, a PE ratio of 59.16, a price-to-earnings-growth ratio of 6.33 and a beta of 1.66.

Shake Shack (NYSE:SHAK - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.12. The business had revenue of $417.62 million during the quarter, compared to the consensus estimate of $417.18 million. Shake Shack had a net margin of 2.56% and a return on equity of 9.29%. The business's quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 earnings per share. Sell-side analysts expect that Shake Shack, Inc. will post 1.12 earnings per share for the current fiscal year.

Shake Shack Company Profile

Shake Shack Inc NYSE: SHAK operates a global chain of fast-casual restaurants known for made-to-order burgers, chicken sandwiches, hot dogs, crinkle-cut fries, frozen custard, shakes, and other beverages. Its menu also includes beer and wine at select locations, with an emphasis on premium ingredients and hospitality-focused service.

The company traces its origins to a hot dog cart opened in New York City's Madison Square Park in 2001 as part of a park revitalization project. The first permanent Shake Shack restaurant opened in the park in 2004.

Want to see what other hedge funds are holding SHAK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shake Shack, Inc. (NYSE:SHAK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.