Brighton Jones LLC Grows Stake in Shake Shack Inc. (NYSE:SHAK)

Brighton Jones LLC raised its stake in Shake Shack Inc. (NYSE:SHAK) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,909 shares of the company’s stock after purchasing an additional 187 shares during the quarter. Brighton Jones LLC’s holdings in Shake Shack were worth $1,612,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SHAK. Allspring Global Investments Holdings LLC purchased a new position in Shake Shack in the first quarter valued at about $25,000. Quest Partners LLC acquired a new stake in shares of Shake Shack during the second quarter valued at about $38,000. Covestor Ltd grew its stake in shares of Shake Shack by 32,150.0% during the first quarter. Covestor Ltd now owns 645 shares of the company’s stock valued at $67,000 after acquiring an additional 643 shares in the last quarter. CWM LLC grew 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 acquiring an additional 207 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Shake Shack during the first quarter valued at about $97,000. 86.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction that occurred on Monday, August 5th. The stock was 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 $3,532,299.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction that occurred on Monday, August 5th. The stock was 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 $3,532,299.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel Harris Meyer sold 10,000 shares of the business’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 value of $1,102,400.00. Following the sale, the director now directly owns 470,437 shares in the company, valued at approximately $51,860,974.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,213 shares of company stock valued at $1,311,175. Insiders own 9.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Truist Financial restated a “buy” rating and set a $127.00 target price on shares of Shake Shack in a research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $115.00 target price on shares of Shake Shack in a research note on Wednesday, August 28th. Wedbush restated a “neutral” rating and set a $90.00 target price on shares of Shake Shack in a research note on Thursday, August 1st. TD Cowen reiterated a “buy” rating and issued a $125.00 price target on shares of Shake Shack in a research note on Wednesday. Finally, Barclays lifted their price target on Shake Shack from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $107.56.

Shake Shack Stock Performance

SHAK opened at $106.94 on Friday. The business’s 50 day moving average is $97.29 and its 200-day moving average is $97.45. The stock has a market cap of $4.54 billion, a PE ratio of 194.44, a price-to-earnings-growth ratio of 3.02 and a beta of 1.83. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51. Shake Shack Inc. has a twelve month low of $52.79 and a twelve month high of $111.29.

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