Van Berkom & Associates Inc. Sells 74,037 Shares of Shake Shack, Inc. $SHAK

Van Berkom & Associates Inc. decreased its stake in shares of Shake Shack, Inc. (NYSE:SHAK) by 8.0% during the first quarter, HoldingsChannel.com reports. The fund owned 849,310 shares of the company’s stock after selling 74,037 shares during the period. Shake Shack makes up 2.5% of Van Berkom & Associates Inc.’s holdings, making the stock its 18th largest position. Van Berkom & Associates Inc.’s holdings in Shake Shack were worth $75,138,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Intech Investment Management LLC boosted its position in Shake Shack by 40.1% during the fourth quarter. Intech Investment Management LLC now owns 77,916 shares of the company’s stock worth $6,324,000 after purchasing an additional 22,287 shares during the period. Jefferies Financial Group Inc. acquired a new position in Shake Shack during the fourth quarter valued at approximately $2,898,000. Madison Asset Management LLC raised its position in shares of Shake Shack by 37.3% in the fourth quarter. Madison Asset Management LLC now owns 58,404 shares of the company’s stock valued at $4,741,000 after purchasing an additional 15,852 shares during the period. Swedbank AB bought a new position in shares of Shake Shack in the fourth quarter valued at approximately $84,092,000. Finally, D.A. Davidson & CO. lifted its stake in shares of Shake Shack by 115.5% in the fourth quarter. D.A. Davidson & CO. now owns 24,276 shares of the company’s stock worth $1,970,000 after buying an additional 13,013 shares during the last quarter. 86.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SHAK shares. Gordon Haskett decreased their price objective on shares of Shake Shack from $90.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. UBS Group reiterated a “neutral” rating and issued a $79.00 target price on shares of Shake Shack in a report on Wednesday, June 3rd. Oppenheimer set a $82.00 target price on shares of Shake Shack and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Jefferies Financial Group restated a “hold” rating and set a $66.00 price target on shares of Shake Shack in a report on Tuesday, June 2nd. Finally, Piper Sandler lowered their price target on Shake Shack from $79.00 to $66.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. Fifteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $89.39.

Shake Shack Stock Down 0.1%

Shares of SHAK stock opened at $57.96 on Monday. Shake Shack, Inc. has a 12 month low of $51.60 and a 12 month high of $142.20. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.45. The firm has a market cap of $2.48 billion, a PE ratio of 59.15, a price-to-earnings-growth ratio of 3.24 and a beta of 1.63. The stock has a 50 day moving average of $58.68 and a 200-day moving average of $80.83.

Insider Buying and Selling at Shake Shack

In related news, CEO Robert Lynch purchased 5,000 shares of Shake Shack stock in a transaction on Friday, May 15th. The stock was purchased at an average cost of $60.39 per share, with a total value of $301,950.00. Following the acquisition, the chief executive officer directly owned 77,845 shares in the company, valued at approximately $4,701,059.55. This trade represents a 6.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel Harris Meyer purchased 32,258 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was bought at an average price of $61.88 per share, for a total transaction of $1,996,125.04. Following the completion of the transaction, the director directly owned 378,670 shares in the company, valued at approximately $23,432,099.60. The trade was a 9.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 50,616 shares of company stock valued at $3,109,782 in the last three months. 8.32% of the stock is owned by insiders.

About Shake Shack

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.