Cetera Investment Advisers Purchases 2,859 Shares of Shake Shack, Inc. $SHAK

Cetera Investment Advisers lifted its stake in shares of Shake Shack, Inc. (NYSE:SHAK) by 145.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,819 shares of the company’s stock after acquiring an additional 2,859 shares during the period. Cetera Investment Advisers’ holdings in Shake Shack were worth $425,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Balyasny Asset Management L.P. lifted its holdings in shares of Shake Shack by 17.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company’s stock worth $116,078,000 after buying an additional 134,475 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Shake Shack by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 760,595 shares of the company’s stock valued at $98,726,000 after purchasing an additional 19,320 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in Shake Shack in the fourth quarter valued at approximately $66,349,000. Northern Trust Corp raised its stake in Shake Shack by 11.6% in the fourth quarter. Northern Trust Corp now owns 424,066 shares of the company’s stock valued at $55,044,000 after purchasing an additional 43,997 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Shake Shack by 0.6% in the first quarter. Jennison Associates LLC now owns 377,987 shares of the company’s stock valued at $33,327,000 after purchasing an additional 2,435 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Loop Capital reissued a “hold” rating and set a $127.00 price target on shares of Shake Shack in a research note on Tuesday, July 8th. TD Securities reiterated a “hold” rating and issued a $105.00 price target on shares of Shake Shack in a report on Thursday, June 26th. Wells Fargo & Company lifted their price target on shares of Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Morgan Stanley lifted their price target on shares of Shake Shack from $122.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $160.00 price target (up previously from $125.00) on shares of Shake Shack in a report on Thursday, June 26th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $131.29.

Shake Shack Trading Up 1.1%

Shares of SHAK opened at $106.77 on Monday. The stock’s 50-day moving average price is $129.28 and its 200 day moving average price is $111.17. The company has a quick ratio of 1.89, a current ratio of 1.92 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 232.11, a P/E/G ratio of 2.43 and a beta of 1.82. Shake Shack, Inc. has a 12-month low of $72.93 and a 12-month high of $144.65.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. The business had revenue of $356.47 million for the quarter, compared to analyst estimates of $352.56 million. Shake Shack had a return on equity of 9.78% and a net margin of 1.50%. Shake Shack’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 EPS. As a group, research analysts predict that Shake Shack, Inc. will post 1.26 earnings per share for the current year.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 3,956 shares of Shake Shack stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $127.49, for a total value of $504,350.44. Following the sale, the chief financial officer owned 35,750 shares of the company’s stock, valued at $4,557,767.50. This trade represents a 9.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel Harris Meyer sold 20,000 shares of Shake Shack stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $140.07, for a total value of $2,801,400.00. Following the completion of the sale, the director directly owned 367,984 shares in the company, valued at $51,543,518.88. This represents a 5.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,211 shares of company stock worth $11,849,216. Company insiders own 8.50% of the company’s stock.

Shake Shack 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.