Cannell & Spears LLC Boosts Stake in Shake Shack, Inc. $SHAK

Cannell & Spears LLC boosted its holdings in Shake Shack, Inc. (NYSE:SHAK) by 27.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 452,694 shares of the company’s stock after acquiring an additional 97,446 shares during the quarter. Cannell & Spears LLC owned 1.06% of Shake Shack worth $40,022,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SHAK. Swedbank AB purchased a new position in shares of Shake Shack during the fourth quarter worth about $84,092,000. Adage Capital Partners GP L.L.C. purchased a new stake in Shake Shack in the fourth quarter valued at approximately $40,829,000. Wellington Management Group LLP lifted its position in Shake Shack by 21.0% during the third quarter. Wellington Management Group LLP now owns 2,590,911 shares of the company’s stock valued at $242,535,000 after purchasing an additional 450,406 shares during the last quarter. Marshall Wace LLP lifted its position in Shake Shack by 285.2% during the third quarter. Marshall Wace LLP now owns 586,999 shares of the company’s stock valued at $54,949,000 after purchasing an additional 434,625 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Shake Shack in the 4th quarter worth approximately $20,455,000. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Price Performance

SHAK stock opened at $57.09 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.66 and a current ratio of 1.69. Shake Shack, Inc. has a 52 week low of $51.60 and a 52 week high of $142.20. The firm’s fifty day moving average is $57.99 and its 200 day moving average is $79.96. The firm has a market cap of $2.44 billion, a P/E ratio of 58.25, a P/E/G ratio of 4.33 and a beta of 1.63.

Insiders Place Their Bets

In other Shake Shack news, Director Jeffrey Flug purchased 1,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was acquired at an average cost of $61.30 per share, for a total transaction of $61,300.00. Following the completion of the transaction, the director directly owned 5,470 shares in the company, valued at approximately $335,311. This represents a 22.37% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Josh Silverman acquired 8,290 shares of Shake Shack stock in a transaction dated Friday, May 15th. The shares were bought at an average cost of $60.38 per share, for a total transaction of $500,550.20. Following the completion of the purchase, the director directly owned 8,290 shares of the company’s stock, valued at approximately $500,550.20. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 50,616 shares of company stock valued at $3,109,782 over the last three months. 8.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SHAK. Robert W. Baird lowered their price objective on shares of Shake Shack from $76.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Mizuho set a $100.00 price target on Shake Shack in a research report on Friday, May 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $66.00 price target on shares of Shake Shack in a research note on Tuesday, June 2nd. Stifel Nicolaus upgraded Shake Shack from a “hold” rating to a “buy” rating and cut their price objective for the stock from $105.00 to $85.00 in a report on Friday, May 8th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $76.00 price objective (down from $115.00) on shares of Shake Shack in a research report on Wednesday, June 3rd. Fifteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $89.39.

Shake Shack Profile

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.