Swiss National Bank grew its holdings in Shake Shack Inc (NYSE:SHAK) by 6.6% during the fourth quarter, HoldingsChannel reports. The firm owned 35,400 shares of the company’s stock after acquiring an additional 2,200 shares during the period. Swiss National Bank’s holdings in Shake Shack were worth $1,529,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SHAK. Cipher Capital LP purchased a new position in Shake Shack in the 3rd quarter worth approximately $211,000. Municipal Employees Retirement System of Michigan lifted its stake in Shake Shack by 58.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 6,960 shares of the company’s stock worth $231,000 after purchasing an additional 2,580 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Shake Shack in the 4th quarter worth approximately $236,000. Parametric Portfolio Associates LLC purchased a new position in Shake Shack in the 2nd quarter worth approximately $247,000. Finally, Teacher Retirement System of Texas purchased a new position in Shake Shack in the 4th quarter worth approximately $309,000. 82.11% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Daniel Harris Meyer sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $45.93, for a total transaction of $4,593,000.00. Following the completion of the sale, the director now owns 642 shares in the company, valued at approximately $29,487.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Zach Koff sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $40.98, for a total transaction of $122,940.00. Following the sale, the chief operating officer now owns 6,978 shares of the company’s stock, valued at approximately $285,958.44. The disclosure for this sale can be found here. Insiders have sold a total of 726,840 shares of company stock valued at $31,287,298 in the last 90 days. Insiders own 34.91% of the company’s stock.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.04. The business had revenue of $96.14 million during the quarter, compared to the consensus estimate of $92.80 million. Shake Shack had a negative net margin of 0.63% and a positive return on equity of 9.47%. The business’s revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 EPS. research analysts forecast that Shake Shack Inc will post 0.46 earnings per share for the current year.
A number of research analysts have weighed in on the stock. Barclays decreased their target price on shares of Shake Shack from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Friday, February 16th. SunTrust Banks set a $54.00 target price on shares of Shake Shack and gave the stock a “buy” rating in a research note on Friday, February 16th. Wedbush reissued a “hold” rating and issued a $38.00 target price on shares of Shake Shack in a research note on Friday, February 16th. Cowen raised their target price 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, Jefferies Group lowered shares of Shake Shack from a “hold” rating to an “underperform” rating and set a $36.00 target price on the stock. in a research note on Saturday, December 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Shake Shack currently has a consensus rating of “Hold” and an average price target of $39.73.
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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’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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