Key Points
- Shake Shack director Jeffrey Flug bought 1,000 shares at $61.30 each, spending $61,300 and increasing his stake by 22.37% to 5,470 shares.
- The stock was down 1.2% and opened near its 52-week low at $59.66, versus a 52-week high of $144.65.
- Shake Shack’s latest earnings missed expectations, reporting $0.00 EPS versus $0.11 expected, while revenue of $366.74 million also came in below estimates.
Shake Shack, Inc. (NYSE:SHAK - Get Free Report) Director Jeffrey Flug bought 1,000 shares of the business's stock in a transaction on Friday, May 15th. The stock was bought at an average price of $61.30 per share, with a total value of $61,300.00. Following the purchase, the director owned 5,470 shares in the company, valued at $335,311. This trade represents a 22.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shake Shack Stock Down 1.2%
Shares of NYSE SHAK opened at $59.66 on Tuesday. Shake Shack, Inc. has a 52 week low of $59.49 and a 52 week high of $144.65. The business has a 50-day simple moving average of $89.62 and a two-hundred day simple moving average of $89.60. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.45. The company has a market cap of $2.55 billion, a P/E ratio of 60.88, a P/E/G ratio of 2.50 and a beta of 1.78.
Shake Shack (NYSE:SHAK - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.00 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.11). Shake Shack had a return on equity of 9.62% and a net margin of 2.76%.The company had revenue of $366.74 million during the quarter, compared to the consensus estimate of $372.43 million. During the same quarter in the prior year, the business earned $0.14 EPS. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. Research analysts anticipate that Shake Shack, Inc. will post 1.24 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have commented on SHAK. Morgan Stanley restated an "overweight" rating on shares of Shake Shack in a research note on Friday, May 8th. Truist Financial raised their target price on Shake Shack from $144.00 to $148.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Mizuho set a $100.00 target price on Shake Shack in a research note on Friday, May 8th. TD Cowen cut their target price on Shake Shack from $105.00 to $76.00 and set a "hold" rating for the company in a research note on Thursday, May 7th. Finally, Barclays cut their target price on Shake Shack from $118.00 to $96.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.08.
Read Our Latest Stock Analysis on Shake Shack
Institutional Trading of Shake Shack
A number of hedge funds have recently bought and sold shares of SHAK. Swedbank AB bought a new stake in Shake Shack in the 4th quarter worth approximately $84,092,000. Adage Capital Partners GP L.L.C. bought a new stake in Shake Shack in the 4th quarter worth approximately $40,829,000. Wellington Management Group LLP lifted its position in Shake Shack by 21.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,590,911 shares of the company's stock worth $242,535,000 after buying an additional 450,406 shares during the last quarter. Marshall Wace LLP lifted its position in Shake Shack by 285.2% in the 3rd quarter. Marshall Wace LLP now owns 586,999 shares of the company's stock worth $54,949,000 after buying an additional 434,625 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Shake Shack in the 4th quarter worth approximately $20,455,000. Institutional investors own 86.07% of the company's stock.
Shake Shack Company Profile
(
Get Free Report)
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.
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