Swedbank AB Has $82.91 Million Stake in Shake Shack, Inc. $SHAK

Swedbank AB lessened its holdings in shares of Shake Shack, Inc. (NYSE:SHAK) by 9.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 937,200 shares of the company’s stock after selling 98,800 shares during the period. Swedbank AB owned about 2.20% of Shake Shack worth $82,914,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Strs Ohio raised its position in shares of Shake Shack by 150.0% in the first quarter. Strs Ohio now owns 1,000 shares of the company’s stock valued at $88,000 after buying an additional 600 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Shake Shack by 15.0% during the first quarter. Pictet Asset Management Holding SA now owns 6,689 shares of the company’s stock worth $592,000 after buying an additional 872 shares in the last quarter. Wasatch Advisors LP increased its stake in Shake Shack by 16.5% during the 1st quarter. Wasatch Advisors LP now owns 407,283 shares of the company’s stock worth $36,032,000 after acquiring an additional 57,612 shares during the period. Wesbanco Bank Inc. bought a new position in Shake Shack during the 1st quarter worth $1,416,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new position in Shake Shack in the 1st quarter valued at $88,000. 86.07% of the stock is owned by institutional investors.

Insider Transactions at Shake Shack

In related news, Director Josh Silverman bought 8,290 shares of the business’s stock in a transaction on Friday, May 15th. The shares were purchased at an average price of $60.38 per share, for a total transaction of $500,550.20. Following the completion of the transaction, the director directly owned 8,290 shares of the company’s stock, valued at approximately $500,550.20. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sumaiya Balbale bought 4,068 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were bought at an average cost of $61.42 per share, for a total transaction of $249,856.56. Following the purchase, the director owned 13,407 shares of the company’s stock, valued at approximately $823,457.94. The trade was a 43.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 50,616 shares of company stock valued at $3,109,782. 8.32% of the stock is owned by company insiders.

Shake Shack Stock Performance

NYSE:SHAK opened at $54.98 on Wednesday. Shake Shack, Inc. has a twelve month low of $51.60 and a twelve month high of $144.65. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.45. The stock’s 50-day simple moving average is $64.06 and its 200 day simple moving average is $82.28. The firm has a market capitalization of $2.35 billion, a PE ratio of 56.10, a price-to-earnings-growth ratio of 2.40 and a beta of 1.63.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on Shake Shack from $80.00 to $65.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 3rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shake Shack in a research note on Friday, May 8th. Gordon Haskett cut their price objective on shares of Shake Shack from $90.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $66.00 price objective on shares of Shake Shack in a research note on Tuesday, June 2nd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $76.00 target price (down from $115.00) on shares of Shake Shack in a report on Wednesday, June 3rd. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Shake Shack has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

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.