Maverick Capital Ltd. Makes New $5.95 Million Investment in Shake Shack Inc. (NYSE:SHAK)

Maverick Capital Ltd. bought a new position in shares of Shake Shack Inc. (NYSE:SHAK) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 57,673 shares of the company’s stock, valued at approximately $5,952,000. Maverick Capital Ltd. owned 0.14% of Shake Shack at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. acquired a new position in Shake Shack during the third quarter worth about $783,000. Public Sector Pension Investment Board grew its position in shares of Shake Shack by 2.4% in the third quarter. Public Sector Pension Investment Board now owns 84,831 shares of the company’s stock valued at $8,755,000 after purchasing an additional 2,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Shake Shack by 4.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,673 shares of the company’s stock worth $895,000 after acquiring an additional 333 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Shake Shack in the 3rd quarter valued at $867,000. Finally, Glenmede Trust Co. NA increased its stake in Shake Shack by 1.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock worth $1,372,000 after buying an additional 199 shares during the period. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Shake Shack Trading Up 0.9 %

Shares of NYSE:SHAK opened at $133.55 on Friday. The company has a market cap of $5.67 billion, a PE ratio of 785.59, a P/E/G ratio of 3.01 and a beta of 1.81. The company’s 50-day moving average price is $116.51 and its 200 day moving average price is $102.36. Shake Shack Inc. has a fifty-two week low of $59.94 and a fifty-two week high of $134.90. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. The firm had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. Shake Shack’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $0.17 EPS. Sell-side analysts anticipate that Shake Shack Inc. will post 0.82 earnings per share for the current year.

Insider Activity at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 22,691 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the sale, the director now directly owns 437,646 shares in the company, valued at approximately $54,473,797.62. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total transaction of $33,361.53. Following the completion of the sale, the chief financial officer now owns 36,180 shares in the company, valued at $3,760,187.40. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,433 shares of company stock worth $7,654,856 in the last ninety days. 9.73% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on SHAK shares. Truist Financial raised their price objective on shares of Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Robert W. Baird raised their price objective on shares of Shake Shack from $93.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. TD Cowen reissued a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a report on Wednesday, September 18th. Barclays 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, October 31st. Finally, Piper Sandler lowered shares of Shake Shack from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $121.00 to $114.00 in a report on Monday, August 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Shake Shack presently has an average rating of “Hold” and an average price target of $112.94.

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.