Swiss National Bank reduced its position in Shake Shack Inc. (NYSE:SHAK) by 4.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 17,400 shares of the company’s stock after selling 900 shares during the period. Swiss National Bank owned 0.08% of Shake Shack worth $634,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in SHAK. Wealthsource Partners LLC purchased a new stake in Shake Shack during the first quarter worth $219,000. Bank of Montreal Can purchased a new stake in Shake Shack during the second quarter worth $625,000. Squarepoint Ops LLC boosted its stake in Shake Shack by 110.4% in the first quarter. Squarepoint Ops LLC now owns 24,405 shares of the company’s stock worth $911,000 after buying an additional 12,805 shares during the period. Cupps Capital Management LLC boosted its stake in Shake Shack by 75.9% in the first quarter. Cupps Capital Management LLC now owns 31,260 shares of the company’s stock worth $1,166,000 after buying an additional 13,490 shares during the period. Finally, California State Teachers Retirement System boosted its stake in Shake Shack by 171.1% in the second quarter. California State Teachers Retirement System now owns 32,934 shares of the company’s stock worth $1,200,000 after buying an additional 20,785 shares during the period. 93.41% of the stock is currently owned by institutional investors and hedge funds.
Shake Shack Inc. (NYSE:SHAK) traded down 0.03% during mid-day trading on Wednesday, hitting $32.13. 205,319 shares of the stock were exchanged. The stock has a market capitalization of $769.61 million, a P/E ratio of 79.33 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 firm has a 50-day moving average price of $34.82 and a 200-day moving average price of $36.48.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The firm earned $66.50 million during the quarter, compared to analyst estimates of $63.07 million. Shake Shack had a return on equity of 8.09% and a net margin of 3.35%. The company’s revenue was up 37.1% on a year-over-year basis. During the same period last year, the company earned $0.09 earnings per share. Equities analysts predict that Shake Shack Inc. will post $0.45 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on SHAK shares. Zacks Investment Research lowered shares of Shake Shack from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Vetr lowered shares of Shake Shack from a “buy” rating to a “hold” rating and set a $37.50 target price for the company. in a research report on Wednesday, July 6th. Buckingham Research reiterated a “buy” rating and issued a $45.00 target price on shares of Shake Shack in a research report on Saturday, August 13th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $38.00 target price (up previously from $35.00) on shares of Shake Shack in a research report on Thursday, August 11th. Finally, Wedbush started coverage on shares of Shake Shack in a research report on Wednesday, July 6th. They issued an “underperform” rating and a $30.00 target price for the company. Three research analysts have rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $39.89.
In other news, major shareholder Laura J. Sloate sold 2,500 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $42.35, for a total transaction of $105,875.00. Following the completion of the transaction, the insider now directly owns 10,000 shares in the company, valued at approximately $423,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Karen Kochevar sold 15,875 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $40.72, for a total value of $646,430.00. The disclosure for this sale can be found here. 44.69% of the stock is owned by corporate insiders.
About Shake Shack
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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