Shake Shack Inc. (NYSE:SHAK) major shareholder Laura J. Sloate sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $35.24, for a total value of $176,200.00. Following the completion of the transaction, the insider now owns 26,000 shares in the company, valued at $916,240. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shake Shack Inc. (NYSE:SHAK) opened at 34.97 on Friday. The firm has a market cap of $837.64 million, a price-to-earnings ratio of 86.35 and a beta of 1.15. Shake Shack Inc. has a 12 month low of $30.00 and a 12 month high of $53.50. The stock has a 50 day moving average price of $35.55 and a 200 day moving average price of $36.48.
Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Shake Shack had a return on equity of 8.09% and a net margin of 3.35%. The business earned $66.50 million during the quarter, compared to analysts’ expectations of $63.07 million. During the same quarter in the previous year, the firm earned $0.09 EPS. The firm’s revenue was up 37.1% compared to the same quarter last year. On average, equities analysts expect that Shake Shack Inc. will post $0.45 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. Blair William & Co. IL raised its position in shares of Shake Shack by 111.6% in the second quarter. Blair William & Co. IL now owns 489,933 shares of the company’s stock valued at $17,848,000 after buying an additional 258,341 shares in the last quarter. Wealthsource Partners LLC purchased a new position in shares of Shake Shack during the first quarter valued at about $219,000. Cupps Capital Management LLC raised its position in shares of Shake Shack by 75.9% in the first quarter. Cupps Capital Management LLC now owns 31,260 shares of the company’s stock valued at $1,166,000 after buying an additional 13,490 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Shake Shack by 171.1% in the second quarter. California State Teachers Retirement System now owns 32,934 shares of the company’s stock valued at $1,200,000 after buying an additional 20,785 shares in the last quarter. Finally, Commonwealth Equity Services Inc raised its position in shares of Shake Shack by 46.7% in the first quarter. Commonwealth Equity Services Inc now owns 20,767 shares of the company’s stock valued at $775,000 after buying an additional 6,609 shares in the last quarter. 93.41% of the stock is owned by institutional investors and hedge funds.
SHAK has been the topic of a number of research reports. Zacks Investment Research upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Saturday, July 23rd. SunTrust Banks Inc. upgraded Shake Shack from a “neutral” rating to a “buy” rating and increased their target price for the company from $40.87 to $48.00 in a research note on Thursday, August 11th. Buckingham Research started coverage on Shake Shack in a research note on Thursday, June 16th. They issued a “buy” rating and a $45.00 target price for the company. Vetr upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $38.82 target price for the company in a research note on Monday, June 6th. Finally, Jefferies Group reiterated a “hold” rating and issued a $36.00 target price (down previously from $38.00) on shares of Shake Shack in a research note on Thursday, August 11th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $40.56.
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 has approximately 84 Shacks in over 10 countries and approximately 45 cities. 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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