Hedeker Wealth LLC Takes Position in Shake Shack, Inc. $SHAK

Hedeker Wealth LLC acquired a new stake in shares of Shake Shack, Inc. (NYSE:SHAK) in the 2nd quarter, HoldingsChannel reports. The firm acquired 50,752 shares of the company’s stock, valued at approximately $2,843,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its stake in shares of Shake Shack by 5,410.3% during the second quarter. California State Teachers Retirement System now owns 2,459,558 shares of the company’s stock worth $137,784,000 after purchasing an additional 2,414,922 shares during the last quarter. Swedbank AB purchased a new position in Shake Shack in the 4th quarter valued at $84,092,000. Adage Capital Partners GP L.L.C. acquired a new position in Shake Shack in the 4th quarter valued at $40,829,000. Wellington Management Group LLP increased its stake in Shake Shack by 21.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,590,911 shares of the company’s stock valued at $242,535,000 after buying an additional 450,406 shares during the period. Finally, Marshall Wace LLP raised its position in Shake Shack by 285.2% during the 3rd quarter. Marshall Wace LLP now owns 586,999 shares of the company’s stock worth $54,949,000 after buying an additional 434,625 shares during the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Zacks Research upgraded shares of Shake Shack from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. BNP Paribas Exane boosted their price target on shares of Shake Shack from $77.00 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Weiss Ratings downgraded shares of Shake Shack from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. Piper Sandler reduced their price objective on shares of Shake Shack from $79.00 to $66.00 and set a “neutral” rating for the company in a research report on Tuesday, July 14th. Finally, Raymond James Financial lowered Shake Shack from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $125.00 to $85.00 in a report on Wednesday, June 3rd. Sixteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.71.

Shake Shack Price Performance

Shake Shack stock opened at $67.41 on Wednesday. Shake Shack, Inc. has a 52 week low of $51.60 and a 52 week high of $107.46. The firm has a market capitalization of $2.89 billion, a PE ratio of 71.71, a P/E/G ratio of 7.59 and a beta of 1.66. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.43. The firm’s 50-day simple moving average is $65.31 and its 200 day simple moving average is $74.61.

Shake Shack (NYSE:SHAK) last announced its earnings results on Wednesday, August 5th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. Shake Shack had a return on equity of 9.29% and a net margin of 2.56%.The firm had revenue of $417.62 million for the quarter, compared to analysts’ expectations of $417.18 million. During the same quarter in the prior year, the firm earned $0.44 EPS. Shake Shack’s quarterly revenue was up 17.2% on a year-over-year basis. On average, equities research analysts predict that Shake Shack, Inc. will post 1.13 EPS for the current fiscal year.

About Shake Shack

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.