Vanguard Group Inc. Has $260.49 Million Holdings in Shake Shack Inc. (NYSE:SHAK)

Vanguard Group Inc. lowered its position in shares of Shake Shack Inc. (NYSE:SHAK - Free Report) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,485,776 shares of the company's stock after selling 53,002 shares during the quarter. Vanguard Group Inc. owned 10.60% of Shake Shack worth $260,489,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Raymond James & Associates increased its stake in Shake Shack by 96.3% in the 1st quarter. Raymond James & Associates now owns 22,358 shares of the company's stock valued at $1,518,000 after buying an additional 10,967 shares during the period. Bank of Montreal Can raised its stake in Shake Shack by 22.8% during the 1st quarter. Bank of Montreal Can now owns 16,446 shares of the company's stock valued at $1,118,000 after purchasing an additional 3,054 shares during the last quarter. MetLife Investment Management LLC raised its stake in Shake Shack by 54.5% during the 1st quarter. MetLife Investment Management LLC now owns 20,457 shares of the company's stock valued at $1,389,000 after purchasing an additional 7,216 shares during the last quarter. Rhumbline Advisers raised its stake in Shake Shack by 6.7% during the 1st quarter. Rhumbline Advisers now owns 95,267 shares of the company's stock valued at $6,469,000 after purchasing an additional 5,985 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Shake Shack by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,742 shares of the company's stock valued at $2,291,000 after purchasing an additional 4,160 shares during the last quarter. Institutional investors and hedge funds own 86.07% of the company's stock.

Insider Activity

In other news, Director Daniel Harris Meyer sold 30,000 shares of the firm's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $95.25, for a total value of $2,857,500.00. Following the transaction, the director now owns 550,437 shares of the company's stock, valued at approximately $52,429,124.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Daniel Harris Meyer sold 30,000 shares of the firm's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $95.25, for a total value of $2,857,500.00. Following the transaction, the director now owns 550,437 shares of the company's stock, valued at approximately $52,429,124.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey Flug sold 304 shares of the firm's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $108.05, for a total transaction of $32,847.20. Following the completion of the transaction, the director now directly owns 4,058 shares in the company, valued at approximately $438,466.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,608 shares of company stock valued at $10,170,519. 10.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on SHAK. Truist Financial upped their target price on shares of Shake Shack from $90.00 to $112.00 and gave the company a "buy" rating in a research note on Friday, February 16th. HSBC initiated coverage on shares of Shake Shack in a research note on Wednesday, December 20th. They set a "hold" rating and a $74.00 target price for the company. UBS Group increased their price objective on shares of Shake Shack from $80.00 to $88.00 and gave the company a "neutral" rating in a research note on Monday, February 12th. BTIG Research increased their price objective on shares of Shake Shack from $110.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, March 14th. Finally, Wedbush restated a "neutral" rating and issued a $80.00 price objective on shares of Shake Shack in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $86.22.

Shake Shack Price Performance

NYSE:SHAK traded down $0.25 during mid-day trading on Friday, reaching $104.03. 847,178 shares of the company were exchanged, compared to its average volume of 973,524. Shake Shack Inc. has a 12 month low of $52.63 and a 12 month high of $110.90. The company has a fifty day moving average of $93.00 and a 200 day moving average of $73.05. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.52. The stock has a market cap of $4.40 billion, a PE ratio of 226.15, a PEG ratio of 3.93 and a beta of 1.81.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.02 EPS for the quarter. Shake Shack had a net margin of 1.82% and a return on equity of 3.67%. The firm had revenue of $286.20 million for the quarter, compared to analyst estimates of $280.45 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The company's revenue was up 20.0% on a year-over-year basis. On average, research analysts anticipate that Shake Shack Inc. will post 0.71 EPS 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.