Gilder Gagnon Howe & Co. LLC Acquires 128,075 Shares of Shake Shack, Inc. (NYSE:SHAK)
Gilder Gagnon Howe & Co. LLC raised its position in Shake Shack, Inc. (NYSE:SHAK) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,318,882 shares of the company’s stock after buying an additional 128,075 shares during the period. Shake Shack comprises 1.2% of Gilder Gagnon Howe & Co. LLC’s portfolio, making the stock its 22nd largest position. Gilder Gagnon Howe & Co. LLC owned approximately 9.00% of Shake Shack worth $80,883,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. Morgan Stanley increased its position in shares of Shake Shack by 30.7% in the first quarter. Morgan Stanley now owns 3,179,116 shares of the company’s stock worth $106,183,000 after buying an additional 747,486 shares during the last quarter. FMR LLC increased its position in shares of Shake Shack by 150.7% in the first quarter. FMR LLC now owns 2,473,147 shares of the company’s stock worth $82,603,000 after buying an additional 1,486,647 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Shake Shack by 7.4% in the first quarter. Vanguard Group Inc. now owns 1,498,772 shares of the company’s stock worth $50,059,000 after buying an additional 103,029 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Shake Shack by 520.9% in the first quarter. Point72 Asset Management L.P. now owns 396,100 shares of the company’s stock worth $13,230,000 after buying an additional 332,301 shares during the last quarter. Finally, Blair William & Co. IL increased its position in shares of Shake Shack by 23.0% in the first quarter. Blair William & Co. IL now owns 264,901 shares of the company’s stock worth $9,491,000 after buying an additional 49,500 shares during the last quarter. 97.46% of the stock is owned by institutional investors.
Shares of Shake Shack, Inc. (SHAK) opened at 31.35 on Monday. Shake Shack, Inc. has a one year low of $30.36 and a one year high of $42.94. The stock’s 50 day moving average is $35.48 and its 200-day moving average is $35.01. The stock has a market capitalization of $807.48 million, a price-to-earnings ratio of 58.27 and a beta of 1.29.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.04. Shake Shack had a net margin of 4.70% and a return on equity of 8.92%. The firm had revenue of $91.30 million for the quarter, compared to analyst estimates of $89 million. During the same period last year, the business earned $0.14 EPS. Shake Shack’s revenue for the quarter was up 37.3% compared to the same quarter last year. On average, equities research analysts predict that Shake Shack, Inc. will post $0.52 EPS for the current fiscal year.
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A number of brokerages have recently issued reports on SHAK. Cowen and Company reduced their price target on Shake Shack from $37.00 to $35.00 and set a “market perform” rating on the stock in a research report on Friday, May 5th. Wedbush raised Shake Shack from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $33.00 to $43.00 in a research report on Thursday, May 18th. ValuEngine raised Shake Shack from a “sell” rating to a “hold” rating in a research report on Friday, May 19th. Zacks Investment Research raised Shake Shack from a “sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. Finally, Buckingham Research raised Shake Shack from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Friday, May 5th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.60.
In other Shake Shack news, CEO Randall J. Garutti sold 16,000 shares of Shake Shack stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $34.82, for a total value of $557,120.00. Following the transaction, the chief executive officer now directly owns 26,961 shares in the company, valued at $938,782.02. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 25,000 shares of Shake Shack stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $38.04, for a total transaction of $951,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 346,011 shares of company stock worth $12,789,611 over the last quarter. 34.91% of the stock is owned by company insiders.
Shake Shack Company Profile
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
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