Shake Shack (SHAK) Stock Price Down 6.4%

Shares of Shake Shack Inc (NYSE:SHAK) traded down 6.4% on Friday . The company traded as low as $53.86 and last traded at $54.62. 921,456 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 892,943 shares. The stock had previously closed at $58.38.

A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Shake Shack from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. Barclays raised their price target on shares of Shake Shack from $52.00 to $59.00 and gave the company an “equal weight” rating in a report on Monday, August 6th. Stifel Nicolaus assumed coverage on shares of Shake Shack in a report on Tuesday, October 9th. They issued a “hold” rating and a $65.00 price target for the company. Wedbush reissued a “hold” rating and issued a $62.00 price target on shares of Shake Shack in a report on Friday, August 3rd. Finally, Morgan Stanley raised their price target on shares of Shake Shack from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, July 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $54.20.

The firm has a market capitalization of $2.24 billion, a P/E ratio of 101.54, a price-to-earnings-growth ratio of 4.41 and a beta of 1.21.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, August 2nd. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.11. Shake Shack had a net margin of 0.42% and a return on equity of 10.39%. The firm had revenue of $116.30 million during the quarter, compared to analyst estimates of $110.70 million. During the same quarter in the previous year, the business earned $0.20 EPS. The business’s quarterly revenue was up 27.4% compared to the same quarter last year. Equities research analysts anticipate that Shake Shack Inc will post 0.61 EPS for the current year.

In other news, CEO Randall J. Garutti sold 30,000 shares of Shake Shack stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $64.83, for a total transaction of $1,944,900.00. Following the transaction, the chief executive officer now directly owns 48,041 shares of the company’s stock, valued at $3,114,498.03. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Equity Group L.P. Select sold 42,600 shares of Shake Shack stock in a transaction on Wednesday, October 10th. The stock was sold at an average price of $58.70, for a total transaction of $2,500,620.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,302,520 shares of company stock valued at $76,491,918 in the last ninety days. Company insiders own 30.18% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SHAK. Schwab Charles Investment Management Inc. boosted its position in shares of Shake Shack by 18.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 98,501 shares of the company’s stock worth $4,101,000 after purchasing an additional 15,328 shares in the last quarter. BlackRock Inc. boosted its position in shares of Shake Shack by 4.1% during the first quarter. BlackRock Inc. now owns 2,529,829 shares of the company’s stock worth $105,318,000 after purchasing an additional 100,166 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Shake Shack by 7.2% during the first quarter. New York State Common Retirement Fund now owns 25,200 shares of the company’s stock worth $1,049,000 after purchasing an additional 1,700 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Shake Shack by 12.7% during the first quarter. Dimensional Fund Advisors LP now owns 115,486 shares of the company’s stock worth $4,808,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Shake Shack by 5.9% during the first quarter. Principal Financial Group Inc. now owns 145,283 shares of the company’s stock worth $6,048,000 after purchasing an additional 8,066 shares in the last quarter. 87.46% of the stock is currently owned by institutional investors.

Shake Shack Company Profile (NYSE:SHAK)

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of October 9, 2018, it operated 180 locations in 26 U.S.

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