Comerica Bank Sells 4,525 Shares of Shake Shack Inc. (NYSE:SHAK)

Comerica Bank trimmed its position in Shake Shack Inc. (NYSE:SHAK – Get Rating) by 15.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 24,139 shares of the company’s stock after selling 4,525 shares during the period. Comerica Bank owned 0.06% of Shake Shack worth $1,164,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SHAK. Van Berkom & Associates Inc. lifted its stake in shares of Shake Shack by 43.7% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,047,116 shares of the company’s stock valued at $41,340,000 after acquiring an additional 318,266 shares during the last quarter. Millennium Management LLC increased its holdings in Shake Shack by 2,372.2% in the second quarter. Millennium Management LLC now owns 176,739 shares of the company’s stock valued at $6,978,000 after purchasing an additional 169,590 shares during the period. EVR Research LP acquired a new stake in Shake Shack in the first quarter valued at $8,850,000. Renaissance Technologies LLC increased its holdings in Shake Shack by 53.8% in the first quarter. Renaissance Technologies LLC now owns 282,400 shares of the company’s stock valued at $19,175,000 after purchasing an additional 98,800 shares during the period. Finally, Sei Investments Co. increased its holdings in Shake Shack by 177.2% in the second quarter. Sei Investments Co. now owns 150,413 shares of the company’s stock valued at $5,938,000 after purchasing an additional 96,152 shares during the period. 83.55% of the stock is currently owned by institutional investors.

Insider Transactions at Shake Shack

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SHAK shares. Barclays decreased their price objective on Shake Shack from $46.00 to $42.00 and set an “equal weight” rating for the company in a report on Thursday, January 5th. Deutsche Bank Aktiengesellschaft increased their price objective on Shake Shack from $53.00 to $56.00 and gave the company a “hold” rating in a report on Monday, November 7th. Credit Suisse Group decreased their price objective on Shake Shack from $61.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, November 7th. BTIG Research decreased their price target on Shake Shack from $65.00 to $60.00 and set a “buy” rating for the company in a report on Monday, November 7th. Finally, Morgan Stanley downgraded Shake Shack from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $50.00 to $47.00 in a report on Tuesday, January 17th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.21.

Shake Shack Price Performance

SHAK stock opened at $56.09 on Tuesday. The stock has a market capitalization of $2.36 billion, a PE ratio of -95.07 and a beta of 1.59. The company’s 50-day moving average is $49.02 and its 200-day moving average is $48.83. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 2.51. Shake Shack Inc. has a 1 year low of $37.72 and a 1 year high of $79.25.

Shake Shack (NYSE:SHAK – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The company had revenue of $227.81 million for the quarter, compared to analysts’ expectations of $226.79 million. Shake Shack had a negative net margin of 2.67% and a negative return on equity of 3.52%. Equities research analysts expect that Shake Shack Inc. will post -0.37 EPS for the current fiscal year.

About Shake Shack

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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.