Princeton Global Asset Management LLC Buys New Position in Shake Shack Inc. (NYSE:SHAK)

Princeton Global Asset Management LLC bought a new stake in shares of Shake Shack Inc. (NYSE:SHAK) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 500 shares of the company’s stock, valued at approximately $44,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Shake Shack by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company’s stock valued at $574,497,000 after purchasing an additional 49,883 shares in the last quarter. Invesco Ltd. boosted its holdings in Shake Shack by 30.7% in the fourth quarter. Invesco Ltd. now owns 1,245,093 shares of the company’s stock worth $161,613,000 after acquiring an additional 292,348 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in Shake Shack by 17.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company’s stock worth $116,078,000 after acquiring an additional 134,475 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Shake Shack by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 760,595 shares of the company’s stock worth $98,726,000 after acquiring an additional 19,320 shares in the last quarter. Finally, Wasatch Advisors LP boosted its holdings in Shake Shack by 1.8% in the fourth quarter. Wasatch Advisors LP now owns 566,425 shares of the company’s stock worth $73,522,000 after acquiring an additional 10,147 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Performance

Shares of Shake Shack stock opened at $129.16 on Friday. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50. The company has a market cap of $5.51 billion, a PE ratio of 561.58 and a beta of 1.77. The business has a 50 day moving average price of $101.27 and a 200-day moving average price of $110.89. Shake Shack Inc. has a 52 week low of $72.93 and a 52 week high of $139.89.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The business had revenue of $320.90 million for the quarter, compared to analysts’ expectations of $330.24 million. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 earnings per share. Equities analysts anticipate that Shake Shack Inc. will post 1.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on SHAK. Wells Fargo & Company increased their price target on Shake Shack from $95.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, May 30th. Raymond James reiterated a “strong-buy” rating and issued a $140.00 price target (down previously from $145.00) on shares of Shake Shack in a report on Friday, May 2nd. Oppenheimer cut their price target on Shake Shack from $155.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Loop Capital upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $127.00 price target on the stock in a report on Tuesday, April 1st. Finally, Wedbush increased their price target on Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Shake Shack has an average rating of “Hold” and an average target price of $115.40.

Insider Activity at Shake Shack

In related news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $130.10, for a total transaction of $1,301,000.00. Following the completion of the sale, the director now directly owns 396,636 shares of the company’s stock, valued at approximately $51,602,343.60. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 20,180 shares of company stock valued at $2,622,709. 9.73% of the stock is owned by insiders.

Shake Shack Company Profile

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.