57,971 Shares in Shake Shack, Inc. $SHAK Acquired by Norges Bank

Norges Bank purchased a new stake in Shake Shack, Inc. (NYSE:SHAK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 57,971 shares of the company’s stock, valued at approximately $8,151,000. Norges Bank owned 0.14% of Shake Shack at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. bought a new position in shares of Shake Shack in the first quarter valued at about $26,000. Ameritas Advisory Services LLC acquired a new position in Shake Shack in the 2nd quarter valued at about $31,000. Parallel Advisors LLC grew its stake in Shake Shack by 679.4% in the 2nd quarter. Parallel Advisors LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 231 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Shake Shack in the 1st quarter valued at about $48,000. Finally, Headlands Technologies LLC acquired a new stake in Shake Shack during the first quarter worth approximately $57,000. 86.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SHAK has been the topic of several research reports. Barclays decreased their target price on Shake Shack from $160.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Stifel Nicolaus reduced their price target on Shake Shack from $110.00 to $105.00 and set a “hold” rating for the company in a research note on Friday, October 31st. Jefferies Financial Group reiterated a “hold” rating on shares of Shake Shack in a research report on Tuesday, November 25th. Mizuho raised Shake Shack to a “hold” rating in a report on Tuesday, October 28th. Finally, Morgan Stanley set a $115.00 target price on shares of Shake Shack in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $120.52.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $79.21 on Wednesday. The stock has a market capitalization of $3.38 billion, a PE ratio of 77.65, a P/E/G ratio of 2.03 and a beta of 1.67. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.84 and a quick ratio of 1.81. The business has a fifty day moving average price of $89.85 and a two-hundred day moving average price of $108.82. Shake Shack, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $144.65.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, October 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.05. The company had revenue of $367.41 million for the quarter, compared to analyst estimates of $363.69 million. Shake Shack had a return on equity of 10.43% and a net margin of 3.10%.Shake Shack’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. As a group, equities analysts predict that Shake Shack, Inc. will post 1.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Stephanie Ann Sentell sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $85.14, for a total value of $93,654.00. Following the completion of the transaction, the insider directly owned 9,907 shares in the company, valued at approximately $843,481.98. The trade was a 9.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

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.