Principal Financial Group Inc. Acquires 4,668 Shares of Shake Shack, Inc. (SHAK)
Principal Financial Group Inc. lifted its holdings in shares of Shake Shack, Inc. (NYSE:SHAK) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,055 shares of the company’s stock after buying an additional 4,668 shares during the period. Principal Financial Group Inc. owned about 0.55% of Shake Shack worth $4,920,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Teachers Advisors LLC raised its stake in shares of Shake Shack by 6.1% during the 4th quarter. Teachers Advisors LLC now owns 25,983 shares of the company’s stock worth $930,000 after purchasing an additional 1,504 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Shake Shack by 16.6% in the 1st quarter. Russell Investments Group Ltd. now owns 7,429 shares of the company’s stock valued at $248,000 after buying an additional 1,057 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Shake Shack by 1,259.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 25,833 shares of the company’s stock valued at $862,000 after buying an additional 23,933 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Shake Shack by 140.6% in the 1st quarter. Bank of New York Mellon Corp now owns 193,171 shares of the company’s stock valued at $6,451,000 after buying an additional 112,899 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Shake Shack by 206.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,666 shares of the company’s stock valued at $122,000 after buying an additional 2,469 shares during the last quarter. Institutional investors own 82.30% of the company’s stock.
Several equities analysts recently weighed in on the stock. Vetr downgraded shares of Shake Shack from a “strong-buy” rating to a “buy” rating and set a $42.33 target price on the stock. in a report on Wednesday, June 7th. SunTrust Banks, Inc. set a $48.00 price target on shares of Shake Shack and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Zacks Investment Research lowered shares of Shake Shack from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Wedbush reiterated an “outperform” rating and issued a $40.00 price target (down previously from $43.00) on shares of Shake Shack in a research note on Sunday, July 30th. Finally, BidaskClub cut shares of Shake Shack from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $37.26.
Shake Shack, Inc. (SHAK) opened at 33.14 on Wednesday. The stock has a 50 day moving average of $32.37 and a 200 day moving average of $32.37. The company has a market capitalization of $861.01 million, a price-to-earnings ratio of 57.74 and a beta of 1.33. Shake Shack, Inc. has a 12 month low of $30.52 and a 12 month high of $39.70.
Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.04. Shake Shack had a net margin of 4.70% and a return on equity of 8.71%. The company had revenue of $91.30 million during the quarter, compared to analyst estimates of $89.00 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. The firm’s revenue for the quarter was up 37.3% on a year-over-year basis. Equities analysts anticipate that Shake Shack, Inc. will post $0.51 EPS for the current fiscal year.
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In other Shake Shack news, CEO Randall J. Garutti sold 8,000 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $31.12, for a total value of $248,960.00. Following the sale, the chief executive officer now directly owns 18,961 shares in the company, valued at $590,066.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey Flug sold 4,800 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $30.96, for a total value of $148,608.00. Following the completion of the sale, the director now owns 4,415 shares in the company, valued at $136,688.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,452 shares of company stock worth $4,779,481. 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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