Shake Shack, Inc. $SHAK Stock Sold by Cooper Investors PTY Ltd.

Cooper Investors PTY Ltd. lessened its stake in Shake Shack, Inc. (NYSE:SHAK) by 35.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,519 shares of the company’s stock after selling 13,244 shares during the quarter. Shake Shack makes up approximately 0.8% of Cooper Investors PTY Ltd.’s portfolio, making the stock its 25th biggest holding. Cooper Investors PTY Ltd. owned 0.06% of Shake Shack worth $1,439,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Shake Shack during the 1st quarter valued at $19,774,000. 12 West Capital Management LP increased its holdings in Shake Shack by 12.0% in the 4th quarter. 12 West Capital Management LP now owns 1,963,595 shares of the company’s stock worth $159,385,000 after acquiring an additional 210,000 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Shake Shack by 602.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 217,617 shares of the company’s stock valued at $12,191,000 after acquiring an additional 186,641 shares during the period. Cannell & Spears LLC raised its stake in Shake Shack by 27.4% in the 1st quarter. Cannell & Spears LLC now owns 452,694 shares of the company’s stock valued at $40,022,000 after acquiring an additional 97,446 shares during the period. Finally, Bank of America Corp DE raised its stake in Shake Shack by 9.3% in the 1st quarter. Bank of America Corp DE now owns 899,013 shares of the company’s stock valued at $79,536,000 after acquiring an additional 76,724 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Performance

Shares of NYSE SHAK traded up $1.74 during mid-day trading on Tuesday, hitting $71.08. The company had a trading volume of 1,219,972 shares, compared to its average volume of 1,760,896. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. Shake Shack, Inc. has a 1 year low of $51.60 and a 1 year high of $107.46. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 75.62, a P/E/G ratio of 7.32 and a beta of 1.68. The stock’s 50-day moving average price is $66.24 and its 200-day moving average price is $69.26.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. The business had revenue of $417.62 million for the quarter, compared to analysts’ expectations of $417.18 million. Shake Shack had a return on equity of 9.29% and a net margin of 2.56%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, sell-side analysts forecast that Shake Shack, Inc. will post 1.13 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on SHAK shares. Piper Sandler dropped their price objective on shares of Shake Shack from $79.00 to $66.00 and set a “neutral” rating on the stock in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of Shake Shack from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, September 9th. Morgan Stanley set a $74.00 price target on shares of Shake Shack in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Shake Shack from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Finally, BNP Paribas Exane upped their price target on shares of Shake Shack from $77.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.22.

About Shake Shack

Shake Shack Inc operates a fast-casual restaurant brand known for made-to-order burgers, chicken sandwiches, hot dogs, crinkle-cut fries, frozen custard, milkshakes, and beverages including beer and wine at select locations. Its menu emphasizes premium ingredients and includes vegetarian and other non-meat options.

The company began as a seasonal hot dog cart in Madison Square Park in New York City in 2001 and opened its first permanent restaurant there in 2004. Shake Shack has since expanded through a combination of company-operated and licensed restaurants, with locations across the United States and in international markets, including parts of Asia, Europe and the Middle East.

Shake Shack also offers digital ordering, delivery, catering and merchandise.