Bank of New York Mellon Corp raised its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 5.8% during the second quarter, Holdings Channel reports. The fund owned 63,099 shares of the company’s stock after buying an additional 3,451 shares during the period. Bank of New York Mellon Corp owned approximately 0.28% of Shake Shack worth $2,299,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Gilder Gagnon Howe & Co. LLC raised its stake 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 last quarter. Bank of Montreal Can acquired a new stake in shares of Shake Shack during the second quarter valued at approximately $625,000. Squarepoint Ops LLC raised its stake in shares of Shake Shack by 110.4% in the first quarter. Squarepoint Ops LLC now owns 24,405 shares of the company’s stock valued at $911,000 after buying an additional 12,805 shares during the last quarter. Wealthsource Partners LLC acquired a new stake in shares of Shake Shack during the first quarter valued at approximately $219,000. Finally, Geode Capital Management LLC raised its stake in shares of Shake Shack by 1.4% in the first quarter. Geode Capital Management LLC now owns 33,875 shares of the company’s stock valued at $1,264,000 after buying an additional 472 shares during the last quarter. Institutional investors own 93.41% of the company’s stock.
Shares of Shake Shack Inc. (NYSE:SHAK) traded up 2.9863% during trading on Wednesday, reaching $34.6034. The company’s stock had a trading volume of 535,154 shares. The company has a market capitalization of $828.86 million, a price-to-earnings ratio of 85.4405 and a beta of 1.15. The firm’s 50-day moving average price is $35.23 and its 200-day moving average price is $36.51. Shake Shack Inc. has a one year low of $30.00 and a one year high of $53.50.
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, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The business had revenue of $66.50 million for the quarter, compared to analysts’ expectations of $63.07 million. Shake Shack had a return on equity of 8.09% and a net margin of 3.35%. The business’s revenue was up 37.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. On average, equities analysts anticipate that Shake Shack Inc. will post $0.45 earnings per share for the current year.
A number of research analysts recently weighed in on the company. Zacks Investment Research downgraded Shake Shack from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. SunTrust Banks Inc. raised Shake Shack from a “neutral” rating to a “buy” rating and upped their price target for the stock from $40.87 to $48.00 in a research note on Thursday, August 11th. Wedbush reaffirmed an “underperform” rating and set a $30.00 price target on shares of Shake Shack in a research note on Thursday, August 11th. Vetr downgraded Shake Shack from a “hold” rating to a “sell” rating and set a $37.50 price target on the stock. in a research note on Wednesday, July 20th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $38.00 price target on shares of Shake Shack in a research note on Wednesday, September 28th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $39.89.
In other news, CEO Randall J. Garutti sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $36.65, for a total value of $366,500.00. Following the sale, the chief executive officer now directly owns 13,100 shares of the company’s stock, valued at approximately $480,115. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Equity Group L.P. Select sold 160,217 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $37.76, for a total value of $6,049,793.92. The disclosure for this sale can be found here. Company insiders own 44.69% of the company’s stock.
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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