Truist Financial Corp Raises Stock Holdings in Shake Shack Inc. (NYSE:SHAK)

Truist Financial Corp boosted its position in shares of Shake Shack Inc. (NYSE:SHAKGet Rating) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,096 shares of the company’s stock after purchasing an additional 305 shares during the quarter. Truist Financial Corp’s holdings in Shake Shack were worth $544,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SHAK. Byrne Asset Management LLC purchased a new position in Shake Shack during the 3rd quarter worth $35,000. Kessler Investment Group LLC purchased a new position in Shake Shack during the 3rd quarter worth $102,000. KBC Group NV increased its holdings in Shake Shack by 155.3% during the 2nd quarter. KBC Group NV now owns 3,485 shares of the company’s stock worth $138,000 after purchasing an additional 2,120 shares during the period. Truvestments Capital LLC increased its holdings in Shake Shack by 15.7% during the 2nd quarter. Truvestments Capital LLC now owns 4,347 shares of the company’s stock worth $172,000 after purchasing an additional 589 shares during the period. Finally, Inspire Investing LLC boosted its position in Shake Shack by 53.1% during the 2nd quarter. Inspire Investing LLC now owns 5,338 shares of the company’s stock valued at $211,000 after acquiring an additional 1,852 shares in the last quarter. 83.55% of the stock is currently owned by hedge funds and other institutional investors.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $54.75 on Monday. The business’s 50 day moving average price is $48.93 and its 200 day moving average price is $48.73. The firm has a market cap of $2.31 billion, a P/E ratio of -92.80 and a beta of 1.58. Shake Shack Inc. has a 52 week low of $37.72 and a 52 week high of $79.25. The company has a quick ratio of 2.51, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

Shake Shack (NYSE:SHAKGet Rating) last issued its earnings results on Thursday, November 3rd. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). The firm had revenue of $227.81 million for the quarter, compared to analyst estimates of $226.79 million. Shake Shack had a negative return on equity of 3.52% and a negative net margin of 2.67%. On average, sell-side analysts expect that Shake Shack Inc. will post -0.37 earnings per share for the current year.

Insider Activity at Shake Shack

In related news, COO Zach Koff sold 3,900 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $55.00, for a total value of $214,500.00. Following the sale, the chief operating officer now owns 31,085 shares in the company, valued at $1,709,675. The sale was disclosed in a legal filing with the SEC, which is available through this link. 9.98% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SHAK has been the topic of several recent research reports. Credit Suisse Group dropped their target price on Shake Shack from $61.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, November 7th. Barclays dropped their target price on Shake Shack from $46.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 5th. Morgan Stanley cut Shake Shack from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $50.00 to $47.00 in a research report on Tuesday, January 17th. BTIG Research dropped their target price on Shake Shack from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, November 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Shake Shack from $53.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, November 7th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $58.21.

Shake Shack Profile

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Shake Shack, Inc operates as a holding company. The firm engages in operating fast food hamburger restaurants. It offers beef burgers, flat-top dogs, chicken sandwiches, frozen custard and crinkle cut fries and includes all the mobile ordering essentials. The company was founded by Daniel Harris Meyer on September 23, 2014 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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