Nisa Investment Advisors LLC Sells 615 Shares of Shake Shack, Inc. (NYSE:SHAK)

Nisa Investment Advisors LLC lowered its position in Shake Shack, Inc. (NYSE:SHAK) by 20.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,370 shares of the company’s stock after selling 615 shares during the period. Nisa Investment Advisors LLC’s holdings in Shake Shack were worth $209,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SHAK. Banque Pictet & Cie SA bought a new position in Shake Shack in the 1st quarter worth about $372,000. Stratos Wealth Partners LTD. increased its stake in shares of Shake Shack by 74.3% during the first quarter. Stratos Wealth Partners LTD. now owns 4,660 shares of the company’s stock worth $411,000 after purchasing an additional 1,986 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Shake Shack during the 1st quarter valued at about $346,000. D.A. Davidson & CO. boosted its holdings in Shake Shack by 260.6% in the 1st quarter. D.A. Davidson & CO. now owns 9,737 shares of the company’s stock valued at $859,000 after purchasing an additional 7,037 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Shake Shack by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 199,709 shares of the company’s stock worth $17,608,000 after acquiring an additional 4,552 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.

Insider Buying and Selling

In other Shake Shack news, CFO Katherine Irene Fogertey sold 670 shares of the firm’s 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 sale, the chief financial officer directly owned 32,495 shares in the company, valued at $4,550,274.85. This trade represents a 2.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 14,200 shares of Shake Shack stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $140.31, for a total transaction of $1,992,402.00. Following the transaction, 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. In the last quarter, insiders sold 87,391 shares of company stock valued at $11,869,925. Insiders own 9.73% of the company’s stock.

Shake Shack Price Performance

SHAK stock opened at $134.89 on Friday. Shake Shack, Inc. has a 1 year low of $72.93 and a 1 year high of $144.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.88 and a current ratio of 1.91. The stock’s 50 day moving average price is $128.80 and its 200 day moving average price is $111.64. The firm has a market cap of $5.76 billion, a P/E ratio of 481.76, a PEG ratio of 3.20 and a beta of 1.77.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.14 earnings per share (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 firm had revenue of $320.90 million for the quarter, compared to analysts’ expectations of $330.24 million. During the same period last year, the firm earned $0.13 EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts expect that Shake Shack, Inc. will post 1.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SHAK. Raymond James Financial reissued a “strong-buy” rating and set a $140.00 price objective (down from $145.00) on shares of Shake Shack in a research report on Friday, May 2nd. Bank of America boosted their price objective on shares of Shake Shack from $112.00 to $134.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 25th. Sanford C. Bernstein set a $166.00 price objective on shares of Shake Shack and gave the company an “overweight” rating in a research note on Thursday, June 26th. Loop Capital reaffirmed a “hold” rating and issued a $127.00 price objective on shares of Shake Shack in a report on Tuesday, July 8th. Finally, Robert W. Baird raised their price objective on shares of Shake Shack from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Two research analysts have 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $126.23.

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.