Truvestments Capital LLC Purchases 1,342 Shares of Shake Shack Inc. (NYSE:SHAK)

Truvestments Capital LLC boosted its position in shares of Shake Shack Inc. (NYSE:SHAK) by 14.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,606 shares of the company’s stock after purchasing an additional 1,342 shares during the period. Truvestments Capital LLC’s holdings in Shake Shack were worth $1,095,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SHAK. Quest Partners LLC acquired a new stake in shares of Shake Shack during the second quarter worth approximately $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Shake Shack during the 3rd quarter valued at $41,000. Kimelman & Baird LLC bought a new position in Shake Shack in the 2nd quarter valued at $45,000. Covestor Ltd raised its position in Shake Shack by 41.6% in the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after purchasing an additional 205 shares during the last quarter. Finally, CWM LLC boosted its stake in Shake Shack by 24.7% in the second quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after purchasing an additional 207 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Shake Shack news, Director Daniel Harris Meyer sold 22,691 shares of Shake Shack stock in a transaction that occurred on 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 transaction, the director now owns 437,646 shares of the company’s stock, valued at approximately $54,473,797.62. The trade was a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total transaction 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 $3,760,187.40. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,433 shares of company stock worth $7,654,856. Corporate insiders own 9.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on SHAK shares. Bank of America lifted their price target on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Capital One Financial initiated coverage on shares of Shake Shack in a research note on Monday, July 29th. They issued an “overweight” rating and a $95.00 target price for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $115.00 price target on shares of Shake Shack in a research note on Wednesday, August 28th. Truist Financial boosted their price objective on shares of Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group increased their price objective on Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Shake Shack has a consensus rating of “Hold” and an average target price of $112.94.

Shake Shack Stock Up 0.4 %

Shake Shack stock opened at $123.54 on Monday. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 723.59, a PEG ratio of 2.79 and a beta of 1.81. The company’s 50 day simple moving average is $113.75 and its 200 day simple moving average is $101.34. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. Shake Shack Inc. has a fifty-two week low of $59.92 and a fifty-two week high of $134.90.

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