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

Creative Planning increased its stake in Shake Shack Inc. (NYSE:SHAK) by 15.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,946 shares of the company’s stock after acquiring an additional 804 shares during the quarter. Creative Planning’s holdings in Shake Shack were worth $535,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SHAK. Allspring Global Investments Holdings LLC purchased a new stake in shares of Shake Shack in the 1st quarter worth $25,000. Quest Partners LLC purchased a new stake in Shake Shack in the second quarter worth about $38,000. Covestor Ltd grew its holdings in Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after acquiring an additional 643 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Shake Shack during the 1st quarter valued at about $97,000. Finally, CWM LLC raised its holdings in shares of Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after purchasing an additional 207 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SHAK. Barclays lifted their price objective on shares of Shake Shack from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Wedbush reissued a “neutral” rating and issued a $90.00 price target on shares of Shake Shack in a research report on Thursday, August 1st. The Goldman Sachs Group raised their price objective on Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 target price (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $115.00 price target on shares of Shake Shack in a report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $107.39.

Shake Shack Trading Down 0.1 %

Shares of NYSE:SHAK opened at $107.67 on Tuesday. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51. Shake Shack Inc. has a 52-week low of $53.12 and a 52-week high of $113.50. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 173.66, a PEG ratio of 3.29 and a beta of 1.83. The business has a 50-day moving average price of $103.67 and a 200-day moving average price of $97.62.

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

Insiders Place Their Bets

In other Shake Shack news, 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 completion of the transaction, the director now directly owns 470,437 shares of the company’s stock, valued at approximately $51,860,974.88. 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 can be accessed through this link. In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.10, for a total value of $30,527.10. Following the sale, the chief financial officer now owns 37,143 shares in the company, valued at $3,532,299.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,482 shares of company stock valued at $2,443,382. Company insiders own 9.73% of the company’s stock.

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.