Northern Trust Corp Trims Stock Position in Shake Shack, Inc. $SHAK

Key Points

• Northern Trust Corp reduced its stake in Shake Shack, Inc. by 1.6%, owning 417,161 shares valued at approximately $36.78 million after selling 6,905 shares in the first quarter.
• Shake Shack reported a quarterly earnings per share of $0.44, beating analysts' expectations, and noted a revenue increase of 12.6% year-over-year, reaching $356.47 million.
• Several analysts have raised their price targets for Shake Shack, with the highest target being $160.00 set by Raymond James Financial, while the consensus target price is $133.05.

Northern Trust Corp decreased its position in Shake Shack, Inc. (NYSE:SHAK - Free Report) by 1.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 417,161 shares of the company's stock after selling 6,905 shares during the period. Northern Trust Corp owned about 0.98% of Shake Shack worth $36,781,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SHAK. Versor Investments LP grew its stake in shares of Shake Shack by 62.3% during the 1st quarter. Versor Investments LP now owns 4,042 shares of the company's stock valued at $356,000 after buying an additional 1,552 shares during the period. Raymond James Financial Inc. lifted its stake in Shake Shack by 17.3% in the first quarter. Raymond James Financial Inc. now owns 448,310 shares of the company's stock valued at $39,527,000 after buying an additional 65,996 shares during the last quarter. Cresset Asset Management LLC increased its stake in Shake Shack by 12.7% during the 1st quarter. Cresset Asset Management LLC now owns 3,300 shares of the company's stock valued at $291,000 after buying an additional 371 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Shake Shack in the 1st quarter worth approximately $396,000. Finally, Ground Swell Capital LLC acquired a new position in Shake Shack in the 1st quarter worth approximately $249,000. Institutional investors and hedge funds own 86.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SHAK. Morgan Stanley increased their price target on shares of Shake Shack from $122.00 to $126.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Bank of America upped their price objective on Shake Shack from $134.00 to $148.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Truist Financial upped their price objective on shares of Shake Shack from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. UBS Group reaffirmed a "neutral" rating and issued a $140.00 price objective (up previously from $100.00) on shares of Shake Shack in a research note on Friday, July 25th. Finally, TD Securities reissued a "hold" rating and issued a $105.00 price target on shares of Shake Shack in a research note on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $133.05.

Shake Shack Stock Down 0.7%

Shares of SHAK stock traded down $0.69 during mid-day trading on Wednesday, reaching $104.90. 712,551 shares of the company's stock traded hands, compared to its average volume of 1,445,577. 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 market cap of $4.48 billion, a P/E ratio of 227.96, a P/E/G ratio of 2.42 and a beta of 1.68. The company has a quick ratio of 1.89, a current ratio of 1.92 and a debt-to-equity ratio of 0.48. Shake Shack, Inc. has a 12 month low of $72.93 and a 12 month high of $144.65.

Shake Shack (NYSE:SHAK - Get Free Report) last announced its quarterly earnings data 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 net margin of 1.50% and a return on equity of 9.78%. The company had revenue of $356.47 million during the quarter, compared to analyst estimates of $352.56 million. During the same period in the previous year, the business earned $0.27 EPS. The firm's revenue for the quarter was up 12.6% on a year-over-year basis. Shake Shack has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts expect that Shake Shack, Inc. will post 1.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 14,200 shares of the 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 sale, the director directly owned 337,984 shares of the company's stock, valued at approximately $47,422,535.04. This represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 670 shares of the firm's 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 transaction, the chief financial officer directly owned 32,495 shares of the company's stock, valued at approximately $4,550,274.85. This represents a 2.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,211 shares of company stock worth $9,247,216. Corporate insiders own 8.50% of the company's stock.

Shake Shack Company 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.