Rhumbline Advisers increased its holdings in shares of Shake Shack, Inc. (NYSE:SHAK) by 24.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,872 shares of the company’s stock after purchasing an additional 7,545 shares during the period. Rhumbline Advisers owned approximately 0.15% of Shake Shack worth $1,356,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in shares of Shake Shack by 4.3% during the 2nd quarter. Arizona State Retirement System now owns 9,700 shares of the company’s stock valued at $338,000 after purchasing an additional 400 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Shake Shack by 43.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 97,226 shares of the company’s stock valued at $3,392,000 after purchasing an additional 29,382 shares in the last quarter. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Shake Shack by 5.8% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,318,882 shares of the company’s stock valued at $80,883,000 after purchasing an additional 128,075 shares in the last quarter. Texas Permanent School Fund lifted its holdings in shares of Shake Shack by 4.2% during the 2nd quarter. Texas Permanent School Fund now owns 13,540 shares of the company’s stock valued at $472,000 after purchasing an additional 549 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Shake Shack by 5.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 27,215 shares of the company’s stock valued at $949,000 after purchasing an additional 1,382 shares in the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.

Shake Shack, Inc. (NYSE:SHAK) opened at 32.52 on Thursday. The firm has a market cap of $844.90 million, a price-to-earnings ratio of 56.66 and a beta of 1.30. The firm’s 50 day moving average price is $31.54 and its 200 day moving average price is $31.54. Shake Shack, Inc. has a 52-week low of $30.52 and a 52-week high of $39.70.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, August 3rd. The company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.04. Shake Shack had a return on equity of 8.71% and a net margin of 4.70%. The company had revenue of $91.30 million for the quarter, compared to analyst estimates of $89.00 million. During the same quarter last year, the company earned $0.14 earnings per share. The company’s revenue for the quarter was up 37.3% on a year-over-year basis. Equities research analysts anticipate that Shake Shack, Inc. will post $0.52 EPS for the current fiscal year.

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SHAK has been the topic of several research reports. SunTrust Banks, Inc. set a $48.00 target price on Shake Shack and gave the company a “buy” rating in a research note on Tuesday, June 27th. Wedbush restated an “outperform” rating and issued a $40.00 target price (down previously from $43.00) on shares of Shake Shack in a research note on Sunday, July 30th. Vetr upgraded Shake Shack from a “buy” rating to a “strong-buy” rating and set a $42.33 target price on the stock in a research note on Tuesday, June 20th. Zacks Investment Research cut Shake Shack from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, BidaskClub cut Shake Shack from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $37.60.

In related news, CEO Randall J. Garutti sold 16,000 shares of Shake Shack stock in a transaction on Monday, June 26th. The stock was sold at an average price of $35.86, for a total transaction of $573,760.00. Following the sale, the chief executive officer now directly owns 26,961 shares in the company, valued at $966,821.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Flug sold 39,619 shares of Shake Shack stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $31.40, for a total value of $1,244,036.60. Following the sale, the director now owns 4,415 shares in the company, valued at $138,631. The disclosure for this sale can be found here. Insiders sold 166,452 shares of company stock worth $5,353,241 in the last 90 days. Corporate insiders own 34.91% of the company’s stock.

Shake Shack 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.

Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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