TD Asset Management Inc Cuts Stake in Shake Shack, Inc. (NYSE:SHAK)

Key Points

• TD Asset Management Inc reduced its stake in Shake Shack by 59.5%, selling 14,516 shares in Q1, leaving them with 9,884 shares worth approximately $871,000.
• Director Daniel Harris Meyer sold 20,000 shares of Shake Shack stock for about $2.8 million, marking a 5.15% decrease in his holdings.
• Analysts have a consensus rating of "Hold" on Shake Shack stock, with an average price target of $131.29 and various firms adjusting their price targets between $90.00 and $160.00.

TD Asset Management Inc trimmed its position in Shake Shack, Inc. (NYSE:SHAK - Free Report) by 59.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,884 shares of the company's stock after selling 14,516 shares during the quarter. TD Asset Management Inc's holdings in Shake Shack were worth $871,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Van Berkom & Associates Inc. raised its holdings in Shake Shack by 19.0% in the 1st quarter. Van Berkom & Associates Inc. now owns 785,594 shares of the company's stock worth $69,266,000 after purchasing an additional 125,357 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Shake Shack during the 1st quarter valued at $2,096,000. Cetera Investment Advisers lifted its holdings in shares of Shake Shack by 145.9% during the first quarter. Cetera Investment Advisers now owns 4,819 shares of the company's stock valued at $425,000 after purchasing an additional 2,859 shares in the last quarter. Madison Asset Management LLC increased its holdings in Shake Shack by 14.1% in the 1st quarter. Madison Asset Management LLC now owns 51,251 shares of the company's stock worth $4,519,000 after buying an additional 6,350 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Shake Shack by 380.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 57,969 shares of the company's stock valued at $5,111,000 after buying an additional 78,656 shares during the period. 86.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SHAK. Truist Financial boosted their price objective on shares of Shake Shack from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Jefferies Financial Group downgraded Shake Shack from a "hold" rating to an "underperform" rating and upped their price target for the stock from $100.00 to $120.00 in a research note on Thursday, July 17th. Barclays dropped their price objective on shares of Shake Shack from $168.00 to $160.00 and set an "overweight" rating for the company in a report on Friday, August 1st. Stifel Nicolaus dropped their price objective on shares of Shake Shack from $120.00 to $97.00 and set a "hold" rating for the company in a research note on Tuesday, April 15th. Finally, TD Securities reaffirmed a "hold" rating and set a $105.00 price objective on shares of Shake Shack in a research note on Thursday, June 26th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Shake Shack has an average rating of "Hold" and a consensus price target of $131.29.

Shake Shack Stock Down 0.9%

Shares of SHAK stock traded down $1.02 during trading hours on Wednesday, reaching $113.07. 963,520 shares of the company's stock were exchanged, compared to its average volume of 1,486,361. The stock has a market cap of $4.82 billion, a PE ratio of 245.81, a PEG ratio of 2.61 and a beta of 1.82. The company has a current ratio of 1.92, a quick ratio of 1.89 and a debt-to-equity ratio of 0.48. The stock's fifty day moving average price is $132.39 and its two-hundred day moving average price is $111.84. Shake Shack, Inc. has a 1 year low of $72.93 and a 1 year high of $144.65.

Shake Shack (NYSE:SHAK - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.07. Shake Shack had a return on equity of 9.78% and a net margin of 1.50%. The firm had revenue of $356.47 million for the quarter, compared to the consensus estimate of $352.56 million. During the same period in the prior year, the firm earned $0.27 EPS. The firm's revenue was up 12.6% on a year-over-year basis. Research analysts predict that Shake Shack, Inc. will post 1.26 EPS for the current year.

Insider Buying and Selling

In other news, Director Daniel Harris Meyer sold 20,000 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $140.07, for a total value of $2,801,400.00. Following the sale, the director owned 367,984 shares in the company, valued at $51,543,518.88. This represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Katherine Irene Fogertey sold 3,956 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $127.49, for a total transaction of $504,350.44. Following the transaction, the chief financial officer owned 35,750 shares of the company's stock, valued at $4,557,767.50. This represents a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 87,391 shares of company stock valued at $11,869,925 over the last three months. 9.73% of the stock is currently owned by insiders.

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.