Deutsche Bank AG Increases Holdings in Shake Shack (SHAK)
Deutsche Bank AG raised its holdings in shares of Shake Shack (NYSE:SHAK) by 373.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,698 shares of the company’s stock after buying an additional 73,921 shares during the period. Deutsche Bank AG owned about 0.26% of Shake Shack worth $4,046,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. OxFORD Asset Management LLP purchased a new stake in Shake Shack during the third quarter valued at approximately $1,423,000. Swiss National Bank increased its stake in shares of Shake Shack by 6.6% in the fourth quarter. Swiss National Bank now owns 35,400 shares of the company’s stock worth $1,529,000 after purchasing an additional 2,200 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Shake Shack in the fourth quarter worth $7,601,000. OppenheimerFunds Inc. increased its stake in shares of Shake Shack by 39.1% in the fourth quarter. OppenheimerFunds Inc. now owns 1,005,241 shares of the company’s stock worth $43,427,000 after purchasing an additional 282,404 shares in the last quarter. Finally, Landscape Capital Management L.L.C. increased its stake in shares of Shake Shack by 479.8% in the fourth quarter. Landscape Capital Management L.L.C. now owns 61,792 shares of the company’s stock worth $2,669,000 after purchasing an additional 51,134 shares in the last quarter. 82.42% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Randall J. Garutti sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $44.70, for a total transaction of $1,788,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Randall J. Garutti sold 20,000 shares of the firm’s stock in a transaction on Monday, March 26th. The shares were sold at an average price of $41.01, for a total transaction of $820,200.00. Following the transaction, the chief executive officer now directly owns 38,041 shares of the company’s stock, valued at $1,560,061.41. The disclosure for this sale can be found here. Insiders have sold 388,000 shares of company stock valued at $15,948,997 over the last ninety days. 34.91% of the stock is currently owned by corporate insiders.
Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, February 15th. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.04. The company had revenue of $96.14 million during the quarter, compared to analysts’ expectations of $92.80 million. Shake Shack had a negative net margin of 0.63% and a positive return on equity of 9.47%. Shake Shack’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period last year, the company posted $0.09 earnings per share. equities analysts predict that Shake Shack will post 0.46 EPS for the current fiscal year.
A number of analysts have recently issued reports on SHAK shares. Jefferies Group cut shares of Shake Shack from a “hold” rating to an “underperform” rating and set a $36.00 price objective for the company. in a research note on Saturday, December 30th. SunTrust Banks set a $54.00 price objective on shares of Shake Shack and gave the stock a “buy” rating in a research note on Friday, February 16th. Barclays reissued an “equal weight” rating and issued a $49.00 price objective (up from $36.00) on shares of Shake Shack in a research note on Tuesday, January 16th. Cowen increased their price objective on shares of Shake Shack from $36.00 to $42.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 19th. Finally, TheStreet cut shares of Shake Shack from a “c” rating to a “d+” rating in a research note on Friday, March 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $40.81.
Shake Shack Company Profile
Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 27, 2017, it had 159 Shacks, including 90 domestic company-operated Shacks, 10 domestic licensed Shacks, and 59 international licensed Shacks.
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