Wealth Enhancement Advisory Services LLC Grows Position in Shake Shack Inc. (NYSE:SHAK)

Wealth Enhancement Advisory Services LLC raised its position in Shake Shack Inc. (NYSE:SHAK) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,855 shares of the company’s stock after purchasing an additional 212 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Shake Shack were worth $347,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Shake Shack during the first quarter valued at approximately $25,000. GAMMA Investing LLC bought a new position in Shake Shack in the 4th quarter valued at $32,000. Covestor Ltd increased its stake in Shake Shack by 32,150.0% in the first quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after purchasing an additional 643 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Shake Shack during the first quarter worth $97,000. Finally, CWM LLC boosted its stake in shares of Shake Shack by 24.7% during the second quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after purchasing an additional 207 shares during the period. Institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Performance

Shares of SHAK opened at $108.97 on Friday. Shake Shack Inc. has a 12 month low of $52.79 and a 12 month high of $111.29. The stock has a fifty day moving average price of $91.85 and a 200-day moving average price of $96.41. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51. The firm has a market cap of $4.63 billion, a PE ratio of 198.13, a P/E/G ratio of 3.28 and a beta of 1.75.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The company had revenue of $316.50 million during the quarter, compared to analysts’ expectations of $314.37 million. During the same period last year, the business posted $0.18 earnings per share. The firm’s revenue was up 16.4% compared to the same quarter last year. Equities research analysts predict that Shake Shack Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Activity at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.10, for a total transaction of $30,527.10. Following the sale, the chief financial officer now owns 37,143 shares of the company’s stock, valued at approximately $3,532,299.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $95.10, for a total transaction of $30,527.10. Following the completion of the sale, the chief financial officer now owns 37,143 shares of the company’s stock, valued at approximately $3,532,299.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $90.39, for a total value of $27,478.56. Following the completion of the transaction, the director now directly owns 3,347 shares in the company, valued at $302,535.33. The disclosure for this sale can be found here. Insiders sold 11,892 shares of company stock valued at $1,279,534 in the last three months. 9.73% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SHAK shares. Morgan Stanley decreased their price objective on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. UBS Group boosted their price target on Shake Shack from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on Shake Shack from $105.00 to $115.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Capital One Financial started coverage on Shake Shack in a research report on Monday, July 29th. They set an “overweight” rating and a $95.00 target price for the company. Finally, Bank of America increased their price target on Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $106.37.

About Shake Shack

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.