Shake Shack (NYSE:SHAK – Free Report) had its price target cut by Stifel Nicolaus from $128.00 to $110.00 in a report released on Friday,Benzinga reports. They currently have a hold rating on the stock.
A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $102.00 target price (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $125.00 to $159.00 in a research report on Tuesday, January 7th. Wedbush restated a “neutral” rating and issued a $130.00 target price on shares of Shake Shack in a report on Wednesday, January 15th. UBS Group raised their target price on Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, Truist Financial lowered their price target on shares of Shake Shack from $149.00 to $143.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shake Shack currently has a consensus rating of “Hold” and an average target price of $123.78.
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Shake Shack Stock Down 1.4 %
Shake Shack (NYSE:SHAK – Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Equities research analysts forecast that Shake Shack will post 0.82 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Daniel Harris Meyer sold 30,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the sale, the director now owns 407,646 shares of the company’s stock, valued at approximately $49,647,206.34. This represents a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total value of $88,281.42. Following the completion of the sale, the chief financial officer now owns 30,717 shares in the company, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,333 shares of company stock valued at $6,566,330. 9.73% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC purchased a new position in Shake Shack in the second quarter worth approximately $38,000. American Century Companies Inc. raised its holdings in shares of Shake Shack by 18.6% in the 2nd quarter. American Century Companies Inc. now owns 9,577 shares of the company’s stock valued at $862,000 after purchasing an additional 1,505 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Shake Shack by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock worth $72,088,000 after purchasing an additional 66,090 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Shake Shack by 303.3% during the second quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock worth $1,460,000 after purchasing an additional 12,487 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Shake Shack during the second quarter worth $622,000. 86.07% 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, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.
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