Fmr LLC Grows Position in Shake Shack Inc. (NYSE:SHAK)

FMR LLC grew its position in shares of Shake Shack Inc. (NYSE:SHAK - Free Report) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 243,549 shares of the company's stock after buying an additional 8,512 shares during the quarter. FMR LLC owned 0.57% of Shake Shack worth $25,137,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truvestments Capital LLC lifted its holdings in Shake Shack by 14.5% during the third quarter. Truvestments Capital LLC now owns 10,606 shares of the company's stock worth $1,095,000 after acquiring an additional 1,342 shares during the period. Fisher Asset Management LLC increased its position in shares of Shake Shack by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 354,114 shares of the company's stock valued at $36,548,000 after purchasing an additional 16,097 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Shake Shack by 2.4% during the 3rd quarter. Larson Financial Group LLC now owns 38,859 shares of the company's stock worth $4,011,000 after purchasing an additional 913 shares during the period. Algert Global LLC boosted its holdings in shares of Shake Shack by 49.3% in the 3rd quarter. Algert Global LLC now owns 5,640 shares of the company's stock worth $582,000 after buying an additional 1,862 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its position in Shake Shack by 4.7% during the third quarter. Champlain Investment Partners LLC now owns 614,747 shares of the company's stock valued at $63,448,000 after buying an additional 27,707 shares during the period. Hedge funds and other institutional investors own 86.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SHAK shares. Bank of America boosted their target price on shares of Shake Shack from $104.00 to $116.00 and gave the company a "neutral" rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $115.00 price objective on shares of Shake Shack in a research note on Wednesday, August 28th. Barclays boosted their target price on Shake Shack from $115.00 to $125.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. Oppenheimer increased their price target on Shake Shack from $122.00 to $135.00 and gave the stock an "outperform" rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and issued a $102.00 price objective (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $112.94.

Insiders Place Their Bets

In related news, Director Daniel Harris Meyer sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $110.08, for a total transaction of $1,100,800.00. Following the transaction, the director now directly owns 460,337 shares in the company, valued at $50,673,896.96. This trade represents a 2.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the transaction, the chief financial officer now directly owns 36,180 shares in the company, valued at $3,760,187.40. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,112 shares of company stock valued at $7,623,215 over the last quarter. 9.73% of the stock is owned by corporate insiders.

Shake Shack Price Performance

Shares of NYSE:SHAK traded down $0.55 on Tuesday, hitting $133.10. The company's stock had a trading volume of 756,542 shares, compared to its average volume of 930,956. The company has a market capitalization of $5.65 billion, a PE ratio of 783.12, a PEG ratio of 2.98 and a beta of 1.85. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. The company has a 50-day simple moving average of $120.08 and a 200 day simple moving average of $103.88. Shake Shack Inc. has a 1 year low of $62.87 and a 1 year high of $139.89.

Shake Shack (NYSE:SHAK - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.05. The business had revenue of $316.92 million during the quarter, compared to analysts' expectations of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The business's quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. Sell-side analysts forecast that Shake Shack Inc. will post 0.82 EPS for the current fiscal year.

Shake Shack Company Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.