US Bancorp DE Sells 795 Shares of Shake Shack, Inc. $SHAK

US Bancorp DE reduced its stake in shares of Shake Shack, Inc. (NYSE:SHAK) by 40.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,157 shares of the company’s stock after selling 795 shares during the quarter. US Bancorp DE’s holdings in Shake Shack were worth $102,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHAK. Farther Finance Advisors LLC grew its position in Shake Shack by 939.3% during the 1st quarter. Farther Finance Advisors LLC now owns 291 shares of the company’s stock worth $26,000 after acquiring an additional 263 shares during the last quarter. Garde Capital Inc. acquired a new position in Shake Shack in the first quarter worth $35,000. Princeton Global Asset Management LLC bought a new stake in shares of Shake Shack during the first quarter worth $44,000. Cooper Investors PTY Ltd. bought a new stake in shares of Shake Shack during the first quarter worth $44,000. Finally, SRH Advisors LLC acquired a new stake in shares of Shake Shack in the first quarter valued at $44,000. 86.07% of the stock is owned by institutional investors.

Shake Shack Price Performance

NYSE:SHAK opened at $106.77 on Monday. The company has a market cap of $4.56 billion, a P/E ratio of 232.11, a P/E/G ratio of 2.43 and a beta of 1.82. The firm’s fifty day moving average price is $129.28 and its two-hundred day moving average price is $111.17. Shake Shack, Inc. has a one year low of $72.93 and a one year high of $144.65. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.92 and a quick ratio of 1.89.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, July 31st. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.37 by $0.07. The business had revenue of $356.47 million during the quarter, compared to the consensus estimate of $352.56 million. Shake Shack had a net margin of 1.50% and a return on equity of 9.78%. Shake Shack’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 EPS. Equities analysts expect that Shake Shack, Inc. will post 1.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 14,200 shares of the firm’s stock in a transaction that occurred on 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 approximately $47,422,535.04. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 670 shares of Shake Shack stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $140.03, for a total transaction of $93,820.10. Following the completion of the sale, the chief financial officer owned 32,495 shares of the company’s stock, valued at approximately $4,550,274.85. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 87,211 shares of company stock valued at $11,849,216 in the last three months. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Truist Financial upped their price target on shares of Shake Shack from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Sanford C. Bernstein set a $166.00 target price on shares of Shake Shack and gave the stock an “overweight” rating in a research note on Thursday, June 26th. The Goldman Sachs Group increased their price target on shares of Shake Shack from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. UBS Group reissued a “neutral” rating and issued a $140.00 price target (up previously from $100.00) on shares of Shake Shack in a report on Friday, July 25th. Finally, Jefferies Financial Group lowered Shake Shack from a “hold” rating to an “underperform” rating and increased their price objective for the company from $100.00 to $120.00 in a research report on Thursday, July 17th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Shake Shack has an average rating of “Hold” and an average target price of $131.29.

About Shake Shack

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.