Banque Pictet & Cie SA Purchases New Holdings in Shake Shack, Inc. (NYSE:SHAK)

Banque Pictet & Cie SA acquired a new position in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,222 shares of the company's stock, valued at approximately $372,000.

Several other large investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its position in shares of Shake Shack by 5.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,870 shares of the company's stock worth $243,000 after buying an additional 100 shares during the period. Summit Financial LLC lifted its stake in Shake Shack by 1.1% in the 4th quarter. Summit Financial LLC now owns 13,083 shares of the company's stock worth $1,698,000 after acquiring an additional 139 shares in the last quarter. Arizona State Retirement System boosted its position in Shake Shack by 1.7% during the 4th quarter. Arizona State Retirement System now owns 11,024 shares of the company's stock worth $1,431,000 after acquiring an additional 182 shares during the period. Summit Investment Advisors Inc. boosted its position in Shake Shack by 5.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,978 shares of the company's stock worth $516,000 after acquiring an additional 209 shares during the period. Finally, Xponance Inc. grew its stake in Shake Shack by 8.6% during the 4th quarter. Xponance Inc. now owns 2,709 shares of the company's stock valued at $352,000 after acquiring an additional 215 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 670 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $140.03, for a total transaction of $93,820.10. Following the completion of the sale, the chief financial officer owned 32,495 shares in the company, valued at $4,550,274.85. This represents a 2.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel Harris Meyer sold 14,200 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $140.31, for a total value of $1,992,402.00. Following the completion of the sale, the director directly owned 337,984 shares in the company, valued at $47,422,535.04. This trade represents a 4.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 87,391 shares of company stock valued at $11,869,925 over the last 90 days. Corporate insiders own 9.73% of the company's stock.

Shake Shack Stock Up 0.9%

SHAK opened at $142.02 on Friday. The business has a 50 day moving average price of $124.93 and a 200 day moving average price of $111.43. Shake Shack, Inc. has a twelve month low of $72.93 and a twelve month high of $144.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.88 and a current ratio of 1.91. The firm has a market cap of $6.06 billion, a P/E ratio of 507.23, a price-to-earnings-growth ratio of 3.33 and a beta of 1.77.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.14 earnings per share 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 during the quarter, compared to analyst estimates of $330.24 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Shake Shack's quarterly revenue was up 10.5% compared to the same quarter last year. Research analysts forecast that Shake Shack, Inc. will post 1.26 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. TD Cowen lowered shares of Shake Shack from a "buy" rating to a "hold" rating and set a $105.00 price target for the company. in a research report on Monday, May 19th. BTIG Research lowered shares of Shake Shack from a "buy" rating to a "neutral" rating in a research note on Monday, June 2nd. The Goldman Sachs Group increased their target price on shares of Shake Shack from $120.00 to $145.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. lifted their target price on shares of Shake Shack from $100.00 to $110.00 and gave the company an "underweight" rating in a research note on Wednesday, June 25th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $140.00 price target (down from $145.00) on shares of Shake Shack in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Shake Shack has an average rating of "Hold" and a consensus price target of $124.90.

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.

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