Cornerstone Capital Inc. Buys 6,190 Shares of Shake Shack, Inc. $SHAK

Cornerstone Capital Inc. lifted its holdings in Shake Shack, Inc. (NYSE:SHAK) by 5.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,677 shares of the company’s stock after acquiring an additional 6,190 shares during the period. Cornerstone Capital Inc. owned approximately 0.27% of Shake Shack worth $10,829,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new position in shares of Shake Shack during the first quarter valued at about $26,000. Global Retirement Partners LLC grew its position in Shake Shack by 83.7% in the 3rd quarter. Global Retirement Partners LLC now owns 327 shares of the company’s stock worth $31,000 after purchasing an additional 149 shares in the last quarter. Murphy & Mullick Capital Management Corp increased its stake in Shake Shack by 68.5% in the 3rd quarter. Murphy & Mullick Capital Management Corp now owns 418 shares of the company’s stock valued at $38,000 after buying an additional 170 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Shake Shack by 159.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 748 shares of the company’s stock worth $105,000 after buying an additional 460 shares in the last quarter. Finally, Nkcfo LLC purchased a new position in shares of Shake Shack in the 2nd quarter worth approximately $115,000. Institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Performance

NYSE SHAK opened at $89.77 on Tuesday. The company has a market capitalization of $3.83 billion, a P/E ratio of 88.01, a P/E/G ratio of 2.90 and a beta of 1.75. The company has a fifty day moving average of $90.31 and a 200-day moving average of $92.97. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.81 and a current ratio of 1.84. Shake Shack, Inc. has a 52-week low of $72.93 and a 52-week high of $144.65.

Wall Street Analyst Weigh In

SHAK has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price target on Shake Shack from $127.00 to $104.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Truist Financial lowered shares of Shake Shack from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Wells Fargo & Company decreased their price objective on shares of Shake Shack from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Morgan Stanley raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $115.00 to $125.00 in a research report on Tuesday, January 20th. Finally, Oppenheimer set a $145.00 price target on shares of Shake Shack in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Shake Shack currently has a consensus rating of “Hold” and a consensus target price of $116.10.

Shake Shack Company Profile

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.