Tara Comonte Sells 2,985 Shares of Shake Shack Inc (NYSE:SHAK) Stock

Shake Shack Inc (NYSE:SHAK) CFO Tara Comonte sold 2,985 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $70.02, for a total transaction of $209,009.70. Following the sale, the chief financial officer now directly owns 54,046 shares of the company’s stock, valued at approximately $3,784,300.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Tara Comonte also recently made the following trade(s):

  • On Tuesday, September 8th, Tara Comonte sold 8,957 shares of Shake Shack stock. The stock was sold at an average price of $66.14, for a total transaction of $592,415.98.

NYSE SHAK opened at $72.16 on Wednesday. The company has a market capitalization of $2.98 billion, a PE ratio of -343.62 and a beta of 1.72. Shake Shack Inc has a 1-year low of $30.01 and a 1-year high of $104.86. The firm’s fifty day simple moving average is $58.62 and its 200-day simple moving average is $51.64.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.08). Shake Shack had a negative return on equity of 1.40% and a negative net margin of 1.64%. The firm had revenue of $91.79 million for the quarter, compared to the consensus estimate of $93.29 million. Analysts anticipate that Shake Shack Inc will post -0.77 EPS for the current fiscal year.

Several equities research analysts recently commented on SHAK shares. Credit Suisse Group boosted their price objective on shares of Shake Shack from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Zacks Investment Research downgraded shares of Shake Shack from a “hold” rating to a “sell” rating in a research note on Tuesday, August 4th. Jefferies Financial Group increased their price objective on shares of Shake Shack from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Shake Shack from $47.00 to $51.00 and gave the stock an “underweight” rating in a report on Wednesday, June 24th. Finally, Wedbush raised shares of Shake Shack from a “neutral” rating to an “outperform” rating and raised their price target for the company from $53.00 to $77.00 in a research report on Thursday, August 20th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $57.94.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Shake Shack by 20.8% in the second quarter. Vanguard Group Inc. now owns 3,743,135 shares of the company’s stock worth $198,312,000 after purchasing an additional 644,910 shares during the period. Gilder Gagnon Howe & Co. LLC grew its position in shares of Shake Shack by 35.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,990,065 shares of the company’s stock worth $158,414,000 after buying an additional 787,387 shares during the period. Eminence Capital LP lifted its stake in Shake Shack by 137.9% during the 1st quarter. Eminence Capital LP now owns 2,592,957 shares of the company’s stock valued at $97,858,000 after acquiring an additional 1,502,957 shares during the period. Lord Abbett & CO. LLC increased its holdings in Shake Shack by 51.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,962,436 shares of the company’s stock worth $74,063,000 after acquiring an additional 664,733 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Shake Shack by 1.0% in the first quarter. Invesco Ltd. now owns 1,044,081 shares of the company’s stock worth $39,404,000 after buying an additional 10,035 shares during the last quarter. 92.25% of the stock is owned by institutional investors and hedge funds.

About Shake Shack

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 December 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.

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