Wells Fargo & Company MN Lowers Position in Shake Shack, Inc. (NYSE:SHAK)
Wells Fargo & Company MN decreased its stake in Shake Shack, Inc. (NYSE:SHAK) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,005 shares of the company’s stock after selling 670 shares during the period. Wells Fargo & Company MN owned 0.06% of Shake Shack worth $501,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in Shake Shack during the fourth quarter valued at $230,000. Dimensional Fund Advisors LP boosted its stake in shares of Shake Shack by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 97,555 shares of the company’s stock worth $3,491,000 after buying an additional 4,092 shares during the period. FMR LLC boosted its stake in shares of Shake Shack by 4.5% in the fourth quarter. FMR LLC now owns 986,500 shares of the company’s stock worth $35,307,000 after buying an additional 42,500 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Shake Shack by 29.5% in the fourth quarter. Guggenheim Capital LLC now owns 8,250 shares of the company’s stock worth $296,000 after buying an additional 1,881 shares during the period. Finally, Teachers Advisors LLC boosted its stake in shares of Shake Shack by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 25,983 shares of the company’s stock worth $930,000 after buying an additional 1,504 shares during the period. 97.46% of the stock is currently owned by institutional investors.
Shake Shack, Inc. (NYSE:SHAK) traded up 2.68% during mid-day trading on Monday, reaching $32.19. The company had a trading volume of 827,636 shares. The stock has a 50 day moving average of $35.48 and a 200 day moving average of $35.01. The stock has a market capitalization of $829.12 million, a price-to-earnings ratio of 59.83 and a beta of 1.29. Shake Shack, Inc. has a 52 week low of $30.36 and a 52 week high of $42.94.
Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. Shake Shack had a return on equity of 8.92% and a net margin of 4.70%. The business had revenue of $91.30 million for the quarter, compared to analysts’ expectations of $89 million. During the same quarter last year, the firm earned $0.14 earnings per share. The business’s revenue was up 37.3% on a year-over-year basis. Analysts anticipate that Shake Shack, Inc. will post $0.52 earnings per share for the current year.
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A number of equities analysts recently issued reports on the stock. ValuEngine upgraded shares of Shake Shack from a “sell” rating to a “hold” rating in a research note on Friday, May 19th. Vetr lowered Shake Shack from a “strong-buy” rating to a “buy” rating and set a $42.33 target price for the company. in a research report on Wednesday, June 7th. Piper Jaffray Companies assumed coverage on Shake Shack in a research report on Wednesday, May 24th. They issued an “overweight” rating and a $44.00 target price for the company. Wedbush raised shares of Shake Shack from a “neutral” rating to an “outperform” rating and upped their price target for the company from $33.00 to $43.00 in a research report on Thursday, May 18th. Finally, Barclays PLC reduced their price target on shares of Shake Shack from $38.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, May 8th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Shake Shack currently has a consensus rating of “Hold” and an average price target of $37.60.
In other news, Director Daniel Harris Meyer sold 25,000 shares of Shake Shack stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $38.04, for a total transaction of $951,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey Flug sold 85,000 shares of Shake Shack stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $37.02, for a total value of $3,146,700.00. The disclosure for this sale can be found here. Insiders have sold 346,011 shares of company stock worth $12,789,611 in the last 90 days. Insiders own 34.91% of the company’s stock.
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’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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