Creative Planning Increases Position in Shake Shack Inc. (NYSE:SHAK)

Creative Planning grew its holdings in Shake Shack Inc. (NYSE:SHAK) by 64.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 9,763 shares of the company’s stock after purchasing an additional 3,817 shares during the quarter. Creative Planning’s holdings in Shake Shack were worth $1,008,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SHAK. Dimensional Fund Advisors LP increased its holdings in Shake Shack by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock worth $72,088,000 after purchasing an additional 66,090 shares during the period. Armistice Capital LLC increased its stake in shares of Shake Shack by 69.1% during the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock worth $52,191,000 after buying an additional 236,950 shares during the period. Marshall Wace LLP raised its holdings in Shake Shack by 101.2% in the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock valued at $48,990,000 after acquiring an additional 273,822 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Shake Shack by 41.9% in the second quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock valued at $39,384,000 after acquiring an additional 129,200 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Shake Shack by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 300,539 shares of the company’s stock worth $27,048,000 after acquiring an additional 4,201 shares during the last quarter. 86.07% of the stock is owned by hedge funds and other institutional investors.

Shake Shack Price Performance

Shares of SHAK opened at $121.67 on Friday. 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 Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $130.20. The firm has a 50-day simple moving average of $105.57 and a 200-day simple moving average of $98.49. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 221.93, a price-to-earnings-growth ratio of 3.23 and a beta of 1.83.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $316.92 million during the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the firm earned $0.17 EPS. On average, equities research analysts anticipate that Shake Shack Inc. will post 0.74 earnings per share for the current year.

Insider Activity at Shake Shack

In other news, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $90.39, for a total transaction of $27,478.56. Following the transaction, the director now directly owns 3,347 shares in the company, valued at $302,535.33. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $110.24, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $90.39, for a total transaction of $27,478.56. Following the sale, the director now owns 3,347 shares in the company, valued at $302,535.33. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,367 shares of company stock worth $2,337,213 in the last three months. Insiders own 9.73% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on SHAK. Barclays increased their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday. Robert W. Baird raised their price target on Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Capital One Financial started coverage on Shake Shack in a report on Monday, July 29th. They set an “overweight” rating and a $95.00 price target for the company. Oppenheimer increased their price objective on Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a report on Monday. Finally, TD Cowen restated a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $109.06.

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.