Jonathan D. Sokoloff Sells 150,000 Shares of Shake Shack Inc. (SHAK) Stock
Shake Shack Inc. (NYSE:SHAK) Director Jonathan D. Sokoloff sold 150,000 shares of the stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $37.91, for a total transaction of $5,686,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shake Shack Inc. (NYSE:SHAK) opened at 36.41 on Friday. The stock has a market cap of $907.37 million, a PE ratio of 80.02 and a beta of 1.20. The firm has a 50-day moving average of $33.42 and a 200 day moving average of $35.81. Shake Shack Inc. has a 12 month low of $30.00 and a 12 month high of $47.00.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Shake Shack had a net margin of 3.97% and a return on equity of 7.12%. The company had revenue of $74.60 million for the quarter, compared to the consensus estimate of $69.18 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The company’s revenue for the quarter was up 40.0% compared to the same quarter last year. Analysts anticipate that Shake Shack Inc. will post $0.46 EPS for the current year.
A number of analysts have commented on SHAK shares. Zacks Investment Research upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Wednesday, October 5th. Buckingham Research reiterated a “buy” rating and issued a $45.00 price objective on shares of Shake Shack in a report on Saturday, August 13th. Vetr upgraded shares of Shake Shack from a “buy” rating to a “strong-buy” rating and set a $39.64 price target for the company in a report on Monday, September 5th. JPMorgan Chase & Co. restated a “neutral” rating and set a $38.00 price target (up previously from $35.00) on shares of Shake Shack in a report on Thursday, August 11th. Finally, Jefferies Group restated a “hold” rating and set a $38.00 price target (up previously from $36.00) on shares of Shake Shack in a report on Thursday, November 10th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Shake Shack currently has an average rating of “Hold” and an average target price of $38.88.
Several hedge funds have recently made changes to their positions in the stock. USA Mutuals Advisors Inc. acquired a new stake in shares of Shake Shack during the second quarter valued at about $182,000. UBS Asset Management Americas Inc. raised its position in Shake Shack by 5.3% in the second quarter. UBS Asset Management Americas Inc. now owns 6,000 shares of the company’s stock worth $219,000 after buying an additional 300 shares in the last quarter. BlackRock Group LTD raised its position in Shake Shack by 16.3% in the third quarter. BlackRock Group LTD now owns 6,472 shares of the company’s stock worth $224,000 after buying an additional 906 shares in the last quarter. BlackRock Advisors LLC raised its position in Shake Shack by 121.1% in the second quarter. BlackRock Advisors LLC now owns 6,245 shares of the company’s stock worth $228,000 after buying an additional 3,420 shares in the last quarter. Finally, US Bancorp DE purchased a new position in Shake Shack during the third quarter worth $248,000. 96.00% of the stock is currently owned by institutional investors.
Shake Shack Company Profile
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company has approximately 84 Shacks in over 10 countries and approximately 45 cities. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
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