American Century Companies Inc. Increases Stake in Shake Shack Inc. (NYSE:SHAK)

American Century Companies Inc. boosted its stake in Shake Shack Inc. (NYSE:SHAK) by 18.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,577 shares of the company’s stock after buying an additional 1,505 shares during the period. American Century Companies Inc.’s holdings in Shake Shack were worth $862,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Shake Shack in the 1st quarter worth about $25,000. Quest Partners LLC bought a new stake in shares of Shake Shack in the 2nd quarter worth approximately $38,000. Covestor Ltd grew its stake in shares of Shake Shack by 32,150.0% in the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after buying an additional 643 shares during the last quarter. CWM LLC increased its position in Shake Shack by 24.7% during the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after buying an additional 207 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Shake Shack in the first quarter worth $97,000. 86.07% of the stock is owned by institutional investors.

Insider Transactions at Shake Shack

In related news, Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the completion of the transaction, the director now directly owns 470,437 shares of the company’s stock, valued at $51,860,974.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the completion of the transaction, the director now owns 470,437 shares in the company, valued at approximately $51,860,974.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Katherine Irene Fogertey sold 963 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $96.03, for a total value of $92,476.89. Following the sale, the chief financial officer now directly owns 37,464 shares in the company, valued at $3,597,667.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,313 shares of company stock valued at $1,322,180. 9.73% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on SHAK. Barclays raised their price target on shares of Shake Shack from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Truist Financial reiterated a “buy” rating and set a $127.00 target price on shares of Shake Shack in a research note on Wednesday, August 28th. Bank of America increased their price target on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Capital One Financial began coverage on Shake Shack in a research report on Monday, July 29th. They set an “overweight” rating and a $95.00 price objective for the company. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 price target (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Shake Shack presently has a consensus rating of “Hold” and a consensus price target of $107.39.

Shake Shack Trading Down 1.4 %

Shares of SHAK stock opened at $101.73 on Wednesday. The stock has a fifty day simple moving average of $99.69 and a two-hundred day simple moving average of $97.50. Shake Shack Inc. has a 52-week low of $52.79 and a 52-week high of $111.29. The firm has a market capitalization of $4.32 billion, a PE ratio of 184.97, a PEG ratio of 3.14 and a beta of 1.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.06.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $314.37 million. During the same quarter last year, the company earned $0.18 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. On average, analysts predict that Shake Shack Inc. will post 0.73 EPS for the current fiscal year.

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.