Point72 DIFC Ltd Acquires 1,153 Shares of Shake Shack Inc. (NYSE:SHAK)

Point72 DIFC Ltd raised its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 20.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,906 shares of the company’s stock after acquiring an additional 1,153 shares during the period. Point72 DIFC Ltd’s holdings in Shake Shack were worth $713,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in shares of Shake Shack during the 2nd quarter valued at about $38,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shake Shack during the third quarter valued at approximately $41,000. Kimelman & Baird LLC purchased a new stake in Shake Shack during the second quarter valued at approximately $45,000. Covestor Ltd raised its position in Shake Shack by 41.6% in the third quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after acquiring an additional 205 shares during the period. Finally, CWM LLC boosted its stake in shares of Shake Shack by 24.7% during the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after acquiring an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Insider Activity

In related news, Director Daniel Harris Meyer sold 22,691 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total value of $2,824,348.77. Following the completion of the transaction, the director now owns 437,646 shares of the company’s stock, valued at approximately $54,473,797.62. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the transaction, the chief financial officer now owns 36,180 shares of the company’s stock, valued at approximately $3,760,187.40. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,112 shares of company stock worth $7,623,215. 9.73% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SHAK shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $115.00 target price on shares of Shake Shack in a report on Wednesday, August 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Bank of America boosted their price objective on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Barclays raised their target price on shares of Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Oppenheimer upped their price target on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $112.94.

Shake Shack Stock Up 3.2 %

SHAK opened at $137.64 on Friday. The company has a market capitalization of $5.85 billion, a PE ratio of 809.65, a price-to-earnings-growth ratio of 2.85 and a beta of 1.85. The firm has a 50-day simple moving average of $118.79 and a two-hundred day simple moving average of $103.27. 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 Inc. has a 52 week low of $60.84 and a 52 week high of $138.60.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The company had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. During the same period in the prior year, the company earned $0.17 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. Analysts forecast that Shake Shack Inc. will post 0.82 earnings per share for the current fiscal year.

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.