Tcfg Wealth Management LLC Takes $219,000 Position in Shake Shack, Inc. (NYSE:SHAK)

Tcfg Wealth Management LLC purchased a new stake in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,487 shares of the company's stock, valued at approximately $219,000.

A number of other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Shake Shack by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,930 shares of the company's stock valued at $46,979,000 after purchasing an additional 8,429 shares during the period. Janus Henderson Group PLC raised its stake in shares of Shake Shack by 6.2% during the 4th quarter. Janus Henderson Group PLC now owns 17,064 shares of the company's stock valued at $2,216,000 after buying an additional 1,000 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Shake Shack in the 4th quarter valued at about $260,000. GAMMA Investing LLC boosted its stake in shares of Shake Shack by 13,353.1% in the first quarter. GAMMA Investing LLC now owns 99,015 shares of the company's stock worth $8,730,000 after buying an additional 98,279 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Shake Shack during the first quarter worth about $1,167,000. 86.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Katherine Irene Fogertey sold 3,956 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $127.49, for a total transaction of $504,350.44. Following the transaction, the chief financial officer now owns 35,750 shares of the company's stock, valued at approximately $4,557,767.50. This represents a 9.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $130.10, for a total value of $1,301,000.00. Following the completion of the transaction, the director now directly owns 396,636 shares of the company's stock, valued at approximately $51,602,343.60. This represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,698 shares of company stock valued at $4,499,820 in the last quarter. Insiders own 9.73% of the company's stock.

Analysts Set New Price Targets

SHAK has been the subject of a number of analyst reports. Oppenheimer decreased their price target on Shake Shack from $155.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. BTIG Research downgraded shares of Shake Shack from a "buy" rating to a "neutral" rating in a report on Monday, June 2nd. Loop Capital upgraded shares of Shake Shack from a "hold" rating to a "buy" rating and set a $127.00 price target on the stock in a research report on Tuesday, April 1st. Robert W. Baird upped their price objective on shares of Shake Shack from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Finally, Wedbush raised their target price on Shake Shack from $115.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Shake Shack presently has an average rating of "Hold" and an average price target of $115.40.

Shake Shack Trading Up 2.5%

Shake Shack stock traded up $3.07 during midday trading on Thursday, hitting $128.28. 1,572,146 shares of the stock were exchanged, compared to its average volume of 1,186,116. The company has a current ratio of 1.91, a quick ratio of 1.88 and a debt-to-equity ratio of 0.50. The stock's 50-day simple moving average is $108.19 and its 200 day simple moving average is $110.84. Shake Shack, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $139.89. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 458.15, a PEG ratio of 2.97 and a beta of 1.77.

Shake Shack (NYSE:SHAK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.02). Shake Shack had a return on equity of 8.45% and a net margin of 0.97%. The firm had revenue of $320.90 million for the quarter, compared to analyst estimates of $330.24 million. During the same quarter in the prior year, the business earned $0.13 EPS. The firm's quarterly revenue was up 10.5% on a year-over-year basis. On average, equities analysts anticipate that Shake Shack, Inc. will post 1.26 EPS for the current year.

Shake Shack 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.