Swedbank AB Has $82.91 Million Position in Shake Shack, Inc. $SHAK

Swedbank AB cut its holdings in shares of Shake Shack, Inc. (NYSE:SHAK) by 9.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 937,200 shares of the company’s stock after selling 98,800 shares during the period. Swedbank AB’s holdings in Shake Shack were worth $82,914,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Glenview Trust co increased its position in Shake Shack by 1.5% in the 2nd quarter. Glenview Trust co now owns 6,925 shares of the company’s stock valued at $974,000 after acquiring an additional 100 shares during the period. UMB Bank n.a. lifted its holdings in shares of Shake Shack by 42.2% during the fourth quarter. UMB Bank n.a. now owns 391 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the period. Maryland State Retirement & Pension System grew its stake in shares of Shake Shack by 2.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 5,905 shares of the company’s stock worth $479,000 after purchasing an additional 119 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Shake Shack by 18.2% in the fourth quarter. Farther Finance Advisors LLC now owns 935 shares of the company’s stock worth $76,000 after purchasing an additional 144 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Shake Shack by 1.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,186 shares of the company’s stock valued at $746,000 after purchasing an additional 150 shares during the period. 86.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Shake Shack

In other news, Director Daniel Harris Meyer acquired 32,258 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was purchased at an average price of $61.88 per share, for a total transaction of $1,996,125.04. Following the completion of the acquisition, the director directly owned 378,670 shares in the company, valued at $23,432,099.60. The trade was a 9.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Robert Lynch bought 5,000 shares of the stock in a transaction dated Friday, May 15th. The shares were purchased at an average cost of $60.39 per share, for a total transaction of $301,950.00. Following the completion of the transaction, the chief executive officer directly owned 77,845 shares of the company’s stock, valued at $4,701,059.55. This trade represents a 6.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 50,616 shares of company stock worth $3,109,782 in the last quarter. Company insiders own 8.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on SHAK. Stifel Nicolaus raised Shake Shack from a “hold” rating to a “buy” rating and cut their target price for the stock from $105.00 to $85.00 in a report on Friday, May 8th. Barclays decreased their price target 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. DA Davidson reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Shake Shack in a research note on Monday, June 29th. Morgan Stanley reiterated an “equal weight” rating and issued a $76.00 target price (down from $115.00) on shares of Shake Shack in a report on Wednesday, June 3rd. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Shake Shack in a research report on Friday, May 8th. Fifteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.00.

Shake Shack Price Performance

SHAK stock opened at $54.98 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.69 and a quick ratio of 1.66. The company’s 50-day moving average is $64.06 and its 200-day moving average is $82.28. The stock has a market capitalization of $2.35 billion, a PE ratio of 56.10, a price-to-earnings-growth ratio of 2.40 and a beta of 1.63. Shake Shack, Inc. has a 1 year low of $51.60 and a 1 year high of $144.65.

About Shake Shack

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.