Point72 Asset Management L.P. raised its position in Shake Shack Inc. (NYSE:SHAK - Free Report) by 154.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 650,685 shares of the company's stock after buying an additional 395,311 shares during the period. Point72 Asset Management L.P. owned approximately 1.53% of Shake Shack worth $67,157,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of SHAK. Holocene Advisors LP increased its stake in shares of Shake Shack by 68.3% in the third quarter. Holocene Advisors LP now owns 946,350 shares of the company's stock worth $97,673,000 after buying an additional 384,131 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Shake Shack by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company's stock worth $72,088,000 after acquiring an additional 66,090 shares in the last quarter. Champlain Investment Partners LLC increased its position in shares of Shake Shack by 4.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 614,747 shares of the company's stock worth $63,448,000 after purchasing an additional 27,707 shares during the last quarter. Armistice Capital LLC increased its position in shares of Shake Shack by 69.1% in the 2nd quarter. Armistice Capital LLC now owns 579,904 shares of the company's stock worth $52,191,000 after purchasing an additional 236,950 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Shake Shack by 101.2% in the 2nd quarter. Marshall Wace LLP now owns 544,336 shares of the company's stock valued at $48,990,000 after purchasing an additional 273,822 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Shake Shack
In related news, Director Daniel Harris Meyer sold 30,000 shares of the business's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $121.79, for a total value of $3,653,700.00. Following the sale, the director now directly owns 407,646 shares in the company, valued at $49,647,206.34. The trade was a 6.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total transaction of $33,361.53. Following the sale, the chief financial officer now owns 36,180 shares of the company's stock, valued at $3,760,187.40. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,112 shares of company stock valued at $7,623,215. Corporate insiders own 9.73% of the company's stock.
Analyst Ratings Changes
Several analysts recently weighed in on SHAK shares. Barclays boosted their price objective on Shake Shack from $115.00 to $125.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. TD Cowen reiterated a "buy" rating and issued a $125.00 price target on shares of Shake Shack in a report on Wednesday, September 18th. Bank of America raised their price objective on Shake Shack from $104.00 to $116.00 and gave the stock a "neutral" rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $115.00 target price on shares of Shake Shack in a research note on Wednesday, August 28th. Finally, Oppenheimer increased their target price on shares of Shake Shack from $122.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $112.94.
Get Our Latest Report on SHAK
Shake Shack Stock Performance
Shares of NYSE:SHAK traded up $4.21 on Thursday, hitting $137.64. The company's stock had a trading volume of 779,349 shares, compared to its average volume of 933,460. Shake Shack Inc. has a 12 month low of $60.84 and a 12 month high of $138.60. The stock's 50-day moving average is $118.79 and its two-hundred day moving average is $103.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 809.65, a price-to-earnings-growth ratio of 2.85 and a beta of 1.85.
Shake Shack (NYSE:SHAK - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. The firm had revenue of $316.92 million for the quarter, compared to analysts' expectations of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The firm'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 earnings per share. On average, equities research analysts forecast that Shake Shack Inc. will post 0.82 EPS for the current year.
Shake Shack Profile
(
Free Report)
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.
Featured Stories
Before you consider Shake Shack, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Shake Shack wasn't on the list.
While Shake Shack currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.