Stratos Wealth Partners LTD. Buys 1,986 Shares of Shake Shack, Inc. (NYSE:SHAK)

Stratos Wealth Partners LTD. lifted its position in Shake Shack, Inc. (NYSE:SHAK) by 74.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,660 shares of the company’s stock after acquiring an additional 1,986 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Shake Shack were worth $411,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in Shake Shack by 939.3% in the 1st quarter. Farther Finance Advisors LLC now owns 291 shares of the company’s stock worth $26,000 after purchasing an additional 263 shares in the last quarter. Nemes Rush Group LLC bought a new position in shares of Shake Shack in the fourth quarter valued at approximately $29,000. Harvest Fund Management Co. Ltd bought a new position in shares of Shake Shack in the fourth quarter valued at approximately $32,000. Garde Capital Inc. purchased a new stake in shares of Shake Shack during the first quarter valued at approximately $35,000. Finally, Princeton Global Asset Management LLC bought a new stake in Shake Shack during the first quarter worth $44,000. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Up 0.1%

Shares of NYSE:SHAK opened at $140.18 on Tuesday. The firm has a fifty day moving average price of $125.84 and a two-hundred day moving average price of $111.19. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 500.63, a PEG ratio of 3.30 and a beta of 1.77. 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 one year low of $72.93 and a one year high of $144.65.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, May 1st. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). Shake Shack had a return on equity of 8.45% and a net margin of 0.97%. The business had revenue of $320.90 million for the quarter, compared to analysts’ expectations of $330.24 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. Shake Shack’s quarterly revenue was up 10.5% compared to the same quarter last year. Analysts anticipate that Shake Shack, Inc. will post 1.26 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on SHAK. Truist Financial upped their price objective on Shake Shack from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Oppenheimer restated an “outperform” rating and set a $160.00 price target (up previously from $125.00) on shares of Shake Shack in a research report on Thursday, June 26th. Barclays lifted their price objective on shares of Shake Shack from $102.00 to $166.00 and gave the stock an “overweight” rating in a research report on Thursday, June 26th. TD Cowen downgraded shares of Shake Shack from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a research report on Monday, May 19th. Finally, Sanford C. Bernstein set a $166.00 price target on shares of Shake Shack and gave the stock an “overweight” rating in a research note on Thursday, June 26th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $125.95.

Insider Activity at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 670 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $140.03, for a total value of $93,820.10. Following the transaction, the chief financial officer owned 32,495 shares of the company’s stock, valued at $4,550,274.85. This represents a 2.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel Harris Meyer sold 14,200 shares of Shake Shack stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $140.31, for a total transaction of $1,992,402.00. Following the sale, the director directly owned 337,984 shares of the company’s stock, valued at $47,422,535.04. This represents a 4.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,391 shares of company stock valued at $11,869,925. 9.73% of the stock is currently owned by company insiders.

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.