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

Cooper Investors PTY Ltd. lessened its position in Shake Shack, Inc. (NYSE:SHAK) by 62.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 37,763 shares of the company’s stock after selling 61,640 shares during the period. Shake Shack makes up 1.0% of Cooper Investors PTY Ltd.’s investment portfolio, making the stock its 29th largest holding. Cooper Investors PTY Ltd.’s holdings in Shake Shack were worth $2,115,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE raised its holdings in Shake Shack by 9.3% during the first quarter. Bank of America Corp DE now owns 899,013 shares of the company’s stock worth $79,536,000 after purchasing an additional 76,724 shares in the last quarter. Amundi raised its stake in shares of Shake Shack by 19.8% during the 1st quarter. Amundi now owns 7,626 shares of the company’s stock worth $675,000 after buying an additional 1,261 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Shake Shack by 23.2% in the 1st quarter. California State Teachers Retirement System now owns 44,636 shares of the company’s stock valued at $3,949,000 after buying an additional 8,409 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Shake Shack by 655.6% in the 1st quarter. Quantinno Capital Management LP now owns 55,362 shares of the company’s stock valued at $4,898,000 after buying an additional 48,035 shares during the period. Finally, SummitTX Capital L.P. purchased a new stake in shares of Shake Shack in the first quarter valued at approximately $542,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Shake Shack Trading Up 2.3%

Shares of SHAK stock opened at $66.29 on Wednesday. The stock has a market cap of $2.84 billion, a P/E ratio of 67.64, a P/E/G ratio of 5.15 and a beta of 1.63. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.45. Shake Shack, Inc. has a fifty-two week low of $51.60 and a fifty-two week high of $117.60. The business has a fifty day simple moving average of $58.15 and a 200-day simple moving average of $78.42.

Insider Transactions at Shake Shack

In other Shake Shack news, Director Sumaiya Balbale purchased 4,068 shares of Shake Shack stock in a transaction on Friday, May 15th. The shares were bought at an average price of $61.42 per share, with a total value of $249,856.56. Following the completion of the acquisition, the director directly owned 13,407 shares of the company’s stock, valued at approximately $823,457.94. This trade represents a 43.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel Harris Meyer purchased 32,258 shares of Shake Shack stock in a transaction on Friday, May 15th. The stock was acquired at an average cost of $61.88 per share, for a total transaction of $1,996,125.04. Following the acquisition, the director directly owned 378,670 shares of the company’s stock, valued at approximately $23,432,099.60. This represents a 9.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 50,616 shares of company stock worth $3,109,782 in the last 90 days. Insiders own 8.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SHAK shares. Wall Street Zen lowered Shake Shack from a “hold” rating to a “strong sell” rating in a report on Saturday, May 16th. Gordon Haskett reduced their target price on Shake Shack from $90.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Raymond James Financial lowered shares of Shake Shack from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $125.00 to $85.00 in a research report on Wednesday, June 3rd. Wells Fargo & Company lowered their price target on shares of Shake Shack from $80.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Finally, Stifel Nicolaus upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and cut their price target for the company from $105.00 to $85.00 in a report on Friday, May 8th. Fifteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Shake Shack has a consensus rating of “Hold” and a consensus price target of $88.04.

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.