Vanguard Group Inc. Raises Stake in Shake Shack, Inc. (SHAK)
Vanguard Group Inc. boosted its position in Shake Shack, Inc. (NYSE:SHAK) by 7.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,498,772 shares of the company’s stock after buying an additional 103,029 shares during the period. Vanguard Group Inc. owned approximately 0.06% of Shake Shack worth $50,059,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in 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 in the last quarter. Gilder Gagnon Howe & Co. LLC increased its position in shares of Shake Shack by 12.2% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 2,190,807 shares of the company’s stock valued at $73,173,000 after buying an additional 238,764 shares during the period. 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 valued at $9,491,000 after buying an additional 49,500 shares during the period. Bank of New York Mellon Corp increased its position in shares of Shake Shack by 140.6% in the first quarter. Bank of New York Mellon Corp now owns 193,171 shares of the company’s stock valued at $6,451,000 after buying an additional 112,899 shares during the period. Finally, Principal Financial Group Inc. bought a new position in shares of Shake Shack during the first quarter valued at approximately $4,555,000. Hedge funds and other institutional investors own 97.46% of the company’s stock.
Shares of Shake Shack, Inc. (NYSE:SHAK) opened at 32.4448 on Thursday. The firm has a market cap of $842.95 million, a P/E ratio of 56.5240 and a beta of 1.29. Shake Shack, Inc. has a 52 week low of $30.36 and a 52 week high of $39.74. The stock has a 50 day moving average of $34.56 and a 200 day moving average of $34.91.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. Shake Shack had a return on equity of 8.71% and a net margin of 4.70%. The company had revenue of $91.30 million for the quarter, compared to analysts’ expectations of $89 million. During the same quarter in the prior year, the business posted $0.14 EPS. The business’s revenue was up 37.3% compared to the same quarter last year. Equities analysts forecast that Shake Shack, Inc. will post $0.52 earnings per share for the current year.
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SHAK has been the topic of several analyst reports. Vetr downgraded Shake Shack from a “strong-buy” rating to a “buy” rating and set a $42.33 price target on the stock. in a report on Wednesday, June 7th. Buckingham Research upgraded Shake Shack from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Friday, May 5th. They noted that the move was a valuation call. SunTrust Banks, Inc. set a $48.00 price target on Shake Shack and gave the company a “buy” rating in a report on Tuesday, June 27th. TheStreet upgraded Shake Shack from a “d” rating to a “c-” rating in a report on Thursday, August 3rd. Finally, Barclays PLC lowered their price target on Shake Shack from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, May 8th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $37.60.
In related news, COO Zach Koff sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $38.00, for a total transaction of $190,000.00. Following the transaction, the chief operating officer now directly owns 8,978 shares of the company’s stock, valued at approximately $341,164. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey Flug sold 3,321 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $37.45, for a total value of $124,371.45. Following the transaction, the director now directly owns 6,645 shares in the company, valued at $248,855.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 244,744 shares of company stock worth $8,958,396. Company insiders own 34.91% of the company’s stock.
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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