Macquarie Group Ltd. grew its stake in shares of Shake Shack, Inc. (NYSE:SHAK) by 18.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 844,390 shares of the company’s stock after purchasing an additional 134,386 shares during the quarter. Macquarie Group Ltd. owned approximately 3.25% of Shake Shack worth $29,452,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Alps Advisors Inc. boosted its stake in shares of Shake Shack by 0.3% during the second quarter. Alps Advisors Inc. now owns 15,588 shares of the company’s stock valued at $544,000 after purchasing an additional 41 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of Shake Shack by 6.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 4,380 shares of the company’s stock valued at $153,000 after purchasing an additional 280 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Shake Shack by 4.1% during the second quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the company’s stock valued at $265,000 after purchasing an additional 300 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Shake Shack by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 101,162 shares of the company’s stock valued at $3,529,000 after purchasing an additional 320 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of Shake Shack by 4.3% during the second quarter. Arizona State Retirement System now owns 9,700 shares of the company’s stock valued at $338,000 after purchasing an additional 400 shares during the period. 82.30% of the stock is owned by hedge funds and other institutional investors.

In other Shake Shack news, CEO Randall J. Garutti sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $34.82, for a total value of $557,120.00. Following the completion of the sale, the chief executive officer now owns 26,961 shares in the company, valued at $938,782.02. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey Flug sold 14,050 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $31.54, for a total value of $443,137.00. Following the completion of the sale, the director now owns 4,415 shares of the company’s stock, valued at approximately $139,249.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 150,452 shares of company stock valued at $4,779,481. 34.91% of the stock is owned by company insiders.

A number of brokerages have recently issued reports on SHAK. Barclays PLC lowered their target price on shares of Shake Shack from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, August 4th. BidaskClub raised shares of Shake Shack from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Vetr raised shares of Shake Shack from a “buy” rating to a “strong-buy” rating and set a $42.33 target price for the company in a research note on Wednesday, June 14th. Wedbush lowered their target price on shares of Shake Shack from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Finally, SunTrust Banks, Inc. reissued a “buy” rating on shares of Shake Shack in a research note on Monday, August 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Shake Shack presently has an average rating of “Hold” and an average price target of $37.19.

Shares of Shake Shack, Inc. (NYSE SHAK) opened at 33.50 on Tuesday. The firm’s 50 day moving average is $32.55 and its 200 day moving average is $32.55. Shake Shack, Inc. has a 52-week low of $30.52 and a 52-week high of $39.70. The stock has a market capitalization of $870.36 million, a price-to-earnings ratio of 58.36 and a beta of 1.33.

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, beating the consensus estimate of $0.16 by $0.04. The business had revenue of $91.30 million during the quarter, compared to analysts’ expectations of $89.00 million. Shake Shack had a return on equity of 8.71% and a net margin of 4.70%. The business’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 EPS. Equities analysts expect that Shake Shack, Inc. will post $0.51 earnings per share for the current year.

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Shake Shack 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.

Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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