Shake Shack Inc. (NYSE:SHAK) major shareholder Laura J. Sloate sold 5,000 shares of Shake Shack stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $35.24, for a total transaction of $176,200.00. Following the completion of the transaction, the insider now owns 26,000 shares of the company’s stock, valued at approximately $916,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Shake Shack Inc. (NYSE:SHAK) opened at 35.59 on Wednesday. The company has a market capitalization of $852.49 million, a price-to-earnings ratio of 87.88 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’s 50-day moving average is $35.90 and its 200 day moving average is $36.50.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Shake Shack had a net margin of 3.35% and a return on equity of 8.09%. The firm had revenue of $66.50 million for the quarter, compared to analysts’ expectations of $63.07 million. During the same quarter in the prior year, the business earned $0.09 EPS. The business’s quarterly revenue was up 37.1% on a year-over-year basis. Equities analysts expect that Shake Shack Inc. will post $0.45 EPS for the current year.
Institutional investors have recently modified their holdings of the company. Granite Point Capital Management L.P. acquired a new position in shares of Shake Shack during the second quarter valued at $10,929,000. Gabelli Funds LLC acquired a new position in shares of Shake Shack during the second quarter valued at $2,149,000. California State Teachers Retirement System boosted 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 during the period. Bank of New York Mellon Corp boosted its position in shares of Shake Shack by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 63,099 shares of the company’s stock valued at $2,299,000 after buying an additional 3,451 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC boosted its position in shares of Shake Shack by 20.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,720,760 shares of the company’s stock valued at $62,687,000 after buying an additional 294,113 shares during the period. Hedge funds and other institutional investors own 93.41% of the company’s stock.
Several equities analysts have recently weighed in on SHAK shares. Vetr upgraded shares of Shake Shack from a “buy” rating to a “strong-buy” rating and set a $39.64 target price for the company in a research note on Monday, September 5th. Buckingham Research reiterated a “buy” rating and issued a $45.00 target price on shares of Shake Shack in a research note on Friday, September 16th. Zacks Investment Research upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Saturday, July 23rd. SunTrust Banks Inc. started coverage on shares of Shake Shack in a research note on Wednesday, June 1st. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $38.00 price objective (up previously from $35.00) on shares of Shake Shack in a research note on Thursday, August 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus 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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