Swedbank AB Makes New Investment in Shake Shack, Inc. $SHAK

Swedbank AB acquired a new position in shares of Shake Shack, Inc. (NYSE:SHAK) during the 4th quarter, Holdings Channel.com reports. The fund acquired 1,036,000 shares of the company’s stock, valued at approximately $84,092,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Shake Shack by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,627 shares of the company’s stock worth $1,995,000 after acquiring an additional 976 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Shake Shack by 4,210.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,500 shares of the company’s stock worth $220,000 after acquiring an additional 2,442 shares during the period. United Services Automobile Association acquired a new stake in shares of Shake Shack in the 1st quarter worth $219,000. Geneos Wealth Management Inc. acquired a new stake in shares of Shake Shack in the 1st quarter worth $26,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Shake Shack by 159.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 748 shares of the company’s stock worth $105,000 after acquiring an additional 460 shares during the period. 86.07% of the stock is owned by hedge funds and other institutional investors.

Shake Shack Stock Down 0.1%

Shares of NYSE SHAK opened at $62.74 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.45. Shake Shack, Inc. has a 52 week low of $59.49 and a 52 week high of $144.65. The firm has a 50-day moving average price of $87.14 and a 200 day moving average price of $88.80. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 64.02, a price-to-earnings-growth ratio of 2.59 and a beta of 1.78.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.00 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.11). Shake Shack had a net margin of 2.76% and a return on equity of 9.62%. The company had revenue of $366.74 million during the quarter, compared to analyst estimates of $372.43 million. During the same quarter last year, the business earned $0.14 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts anticipate that Shake Shack, Inc. will post 1.24 EPS for the current fiscal year.

Insider Transactions at Shake Shack

In related news, Director Daniel Harris Meyer acquired 32,258 shares of Shake Shack stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price of $61.88 per share, for a total transaction of $1,996,125.04. Following the completion of the purchase, the director directly owned 378,670 shares of the company’s stock, valued at approximately $23,432,099.60. This trade represents a 9.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Lynch acquired 5,000 shares of Shake Shack stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of $60.39 per share, with a total value of $301,950.00. Following the purchase, the chief executive officer directly owned 77,845 shares of the company’s stock, valued at approximately $4,701,059.55. This trade represents a 6.86% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 50,616 shares of company stock valued at $3,109,782. 8.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on SHAK shares. Truist Financial raised their target price on shares of Shake Shack from $144.00 to $148.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Zacks Research upgraded shares of Shake Shack from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Morgan Stanley restated an “overweight” rating on shares of Shake Shack in a research note on Friday, May 8th. TD Cowen reduced their target price on shares of Shake Shack from $105.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Shake Shack from $100.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.08.

Shake Shack Company Profile

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.