Great West Life Assurance Co. Can increased its position in Shake Shack, Inc. (NYSE:SHAK) by 1,259.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,833 shares of the company’s stock after buying an additional 23,933 shares during the period. Great West Life Assurance Co. Can owned approximately 0.10% of Shake Shack worth $862,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of Shake Shack during the fourth quarter worth about $230,000. Louisiana State Employees Retirement System acquired a new position in shares of Shake Shack during the first quarter valued at $244,000. Guggenheim Capital LLC raised its position in shares of Shake Shack by 29.5% in the fourth quarter. Guggenheim Capital LLC now owns 8,250 shares of the company’s stock valued at $296,000 after buying an additional 1,881 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Shake Shack during the fourth quarter valued at $363,000. Finally, Creative Planning raised its position in shares of Shake Shack by 714.8% in the first quarter. Creative Planning now owns 11,285 shares of the company’s stock valued at $377,000 after buying an additional 9,900 shares in the last quarter. Institutional investors own 97.02% of the company’s stock.
Shares of Shake Shack, Inc. (SHAK) opened at 37.90 on Friday. The company has a market cap of $976.19 million, a P/E ratio of 70.45 and a beta of 1.31. Shake Shack, Inc. has a 12 month low of $30.36 and a 12 month high of $42.94. The stock’s 50 day moving average is $36.89 and its 200 day moving average is $35.41.
Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, May 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.02. Shake Shack had a net margin of 4.55% and a return on equity of 7.15%. The company had revenue of $76.70 million for the quarter, compared to the consensus estimate of $74.71 million. During the same quarter in the previous year, the company earned $0.08 EPS. Shake Shack’s quarterly revenue was up 41.5% compared to the same quarter last year. On average, analysts anticipate that Shake Shack, Inc. will post $0.50 EPS for the current fiscal year.
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SHAK has been the topic of several analyst reports. Buckingham Research restated a “neutral” rating and issued a $40.00 price objective on shares of Shake Shack in a report on Monday, February 27th. Stifel Nicolaus cut their price objective on shares of Shake Shack from $35.00 to $33.00 and set a “hold” rating on the stock in a report on Thursday, March 2nd. Wedbush restated an “underperform” rating and issued a $30.00 price objective on shares of Shake Shack in a report on Friday, March 3rd. Morgan Stanley restated an “underweight” rating and issued a $34.00 price objective on shares of Shake Shack in a report on Friday, March 3rd. Finally, SunTrust Banks, Inc. restated a “buy” rating and issued a $49.00 price objective on shares of Shake Shack in a report on Sunday, March 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $37.95.
In other Shake Shack news, CEO Randall J. Garutti sold 8,000 shares of the company’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $32.23, for a total transaction of $257,840.00. Following the transaction, the chief executive officer now owns 20,213 shares in the company, valued at $651,464.99. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Peggy Rubenzer sold 10,719 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $36.68, for a total transaction of $393,172.92. Following the transaction, the senior vice president now owns 28,134 shares in the company, valued at approximately $1,031,955.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 470,307 shares of company stock worth $16,979,214. Corporate insiders own 44.69% 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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