Uniting Wealth Partners LLC Takes Position in Shake Shack, Inc. (NYSE:SHAK)

Uniting Wealth Partners LLC acquired a new position in Shake Shack, Inc. (NYSE:SHAK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,000 shares of the company's stock, valued at approximately $265,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund raised its position in Shake Shack by 21.6% in the first quarter. Illinois Municipal Retirement Fund now owns 25,045 shares of the company's stock worth $2,208,000 after acquiring an additional 4,450 shares during the period. Alta Wealth Advisors LLC bought a new stake in Shake Shack in the first quarter worth about $231,000. Bessemer Group Inc. raised its position in Shake Shack by 60.7% in the first quarter. Bessemer Group Inc. now owns 5,874 shares of the company's stock worth $518,000 after acquiring an additional 2,218 shares during the period. Spire Wealth Management raised its position in shares of Shake Shack by 881.2% in the first quarter. Spire Wealth Management now owns 1,982 shares of the company's stock valued at $175,000 after purchasing an additional 1,780 shares during the period. Finally, Cooper Investors PTY Ltd. bought a new stake in shares of Shake Shack in the first quarter valued at approximately $44,000. Institutional investors own 86.07% of the company's stock.

Insiders Place Their Bets

In other Shake Shack news, CFO Katherine Irene Fogertey sold 562 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were 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 now owns 35,188 shares of the company's stock, valued at $4,392,869.92. The trade was a 1.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel Harris Meyer sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $130.26, for a total transaction of $1,302,600.00. Following the completion of the transaction, the director now directly owns 386,636 shares of the company's stock, valued at approximately $50,363,205.36. This represents a 2.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,698 shares of company stock valued at $4,499,820 in the last quarter. Corporate insiders own 9.73% of the company's stock.

Analyst Upgrades and Downgrades

SHAK has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of Shake Shack from $100.00 to $110.00 and gave the company an "underweight" rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of Shake Shack from $95.00 to $115.00 and gave the company an "equal weight" rating in a research report on Friday, May 30th. Oppenheimer reissued an "outperform" rating and issued a $160.00 price target (up previously from $125.00) on shares of Shake Shack in a research report on Thursday. Barclays boosted 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. Finally, Truist Financial boosted their price target on shares of Shake Shack from $134.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Shake Shack currently has an average rating of "Hold" and a consensus target price of $123.95.

Shake Shack Price Performance

SHAK stock traded up $0.41 during midday trading on Friday, reaching $138.83. The company had a trading volume of 1,707,944 shares, compared to its average volume of 1,199,982. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.91 and a quick ratio of 1.88. Shake Shack, Inc. has a 1 year low of $72.93 and a 1 year high of $140.97. The company has a market capitalization of $5.92 billion, a P/E ratio of 150.52, a P/E/G ratio of 3.27 and a beta of 1.77. The firm has a 50-day moving average price of $115.47 and a 200-day moving average price of $110.48.

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). Shake Shack had a return on equity of 8.45% and a net margin of 0.97%. The company had revenue of $320.90 million during the quarter, compared to analysts' expectations of $330.24 million. During the same period in the prior year, the firm earned $0.13 EPS. Shake Shack's quarterly revenue was up 10.5% on a year-over-year basis. On average, research analysts anticipate that Shake Shack, Inc. will post 1.26 earnings per share for the current fiscal year.

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.