Quest Partners LLC Has $78,000 Holdings in Shake Shack Inc. (NYSE:SHAK)

Quest Partners LLC raised its stake in Shake Shack Inc. (NYSE:SHAK) by 76.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 752 shares of the company’s stock after buying an additional 325 shares during the quarter. Quest Partners LLC’s holdings in Shake Shack were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHAK. Russell Investments Group Ltd. boosted its stake in Shake Shack by 61,625.0% during the 1st quarter. Russell Investments Group Ltd. now owns 2,469 shares of the company’s stock worth $257,000 after acquiring an additional 2,465 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Shake Shack by 7.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,883 shares of the company’s stock worth $2,173,000 after purchasing an additional 1,358 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Shake Shack in the 1st quarter valued at $653,000. Quent Capital LLC grew its holdings in shares of Shake Shack by 2,469.1% in the 2nd quarter. Quent Capital LLC now owns 2,081 shares of the company’s stock valued at $187,000 after buying an additional 2,000 shares during the period. Finally, CWM LLC increased its position in shares of Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after buying an additional 207 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Shake Shack Trading Up 0.9 %

Shares of NYSE:SHAK opened at $133.55 on Friday. Shake Shack Inc. has a one year low of $59.94 and a one year high of $134.90. The stock has a market capitalization of $5.67 billion, a PE ratio of 785.59, a price-to-earnings-growth ratio of 3.01 and a beta of 1.81. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. The company’s 50-day moving average price is $115.98 and its two-hundred day moving average price is $102.14.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The company had revenue of $316.92 million during the quarter, compared to the consensus estimate of $316.03 million. During the same quarter in the prior year, the firm posted $0.17 EPS. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities analysts forecast that Shake Shack Inc. will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $110.08, for a total value of $1,100,800.00. Following the sale, the director now owns 460,337 shares in the company, valued at $50,673,896.96. This represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the sale, the chief financial officer now directly owns 36,180 shares of the company’s stock, valued at approximately $3,760,187.40. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,433 shares of company stock worth $7,654,856 over the last quarter. 9.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SHAK has been the topic of several recent analyst reports. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $102.00 target price (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. TD Cowen reiterated a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a report on Wednesday, September 18th. Oppenheimer increased their target price on Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Bank of America raised their target price on shares of Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, Piper Sandler cut shares of Shake Shack from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $121.00 to $114.00 in a report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $112.94.

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.