Banque Pictet & Cie SA Acquires Shares of 4,222 Shake Shack, Inc. (NYSE:SHAK)

Banque Pictet & Cie SA purchased a new position in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,222 shares of the company's stock, valued at approximately $372,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Shake Shack by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 361,930 shares of the company's stock worth $46,979,000 after acquiring an additional 8,429 shares during the period. Proficio Capital Partners LLC acquired a new stake in Shake Shack during the 4th quarter worth approximately $5,105,000. Arizona State Retirement System lifted 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. Amundi lifted its position in Shake Shack by 141.0% during the 4th quarter. Amundi now owns 23,896 shares of the company's stock worth $3,174,000 after acquiring an additional 13,982 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Shake Shack by 18.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,234 shares of the company's stock worth $1,328,000 after acquiring an additional 1,561 shares during the period. Hedge funds and other institutional investors own 86.07% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on SHAK shares. KeyCorp started coverage on Shake Shack in a research report on Monday, June 2nd. They set a "sector weight" rating for the company. Robert W. Baird increased their price objective on Shake Shack from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. The Goldman Sachs Group raised their price target on Shake Shack from $120.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. TD Cowen cut Shake Shack from a "buy" rating to a "hold" rating and set a $105.00 price target for the company. in a report on Monday, May 19th. Finally, BTIG Research cut Shake Shack from a "buy" rating to a "neutral" rating in a report on Monday, June 2nd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Shake Shack presently has an average rating of "Hold" and a consensus target price of $124.90.

Shake Shack Price Performance

Shares of NYSE SHAK traded down $2.12 during trading on Friday, reaching $139.91. The company had a trading volume of 910,384 shares, compared to its average volume of 1,207,187. Shake Shack, Inc. has a twelve month low of $72.93 and a twelve month high of $144.65. The stock has a market capitalization of $5.97 billion, a PE ratio of 499.68, a price-to-earnings-growth ratio of 3.35 and a beta of 1.77. The stock has a 50-day moving average price of $125.84 and a two-hundred day moving average price of $111.48. The company has a current ratio of 1.91, a quick ratio of 1.88 and a debt-to-equity ratio of 0.50.

Shake Shack (NYSE:SHAK - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business had revenue of $320.90 million during the quarter, compared to analyst estimates of $330.24 million. Shake Shack had a net margin of 0.97% and a return on equity of 8.45%. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. As a group, sell-side analysts predict that Shake Shack, Inc. will post 1.26 earnings per share for the current year.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 3,956 shares of the company's 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 completion of the sale, the chief financial officer directly owned 35,750 shares in the company, valued at $4,557,767.50. This represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel Harris Meyer sold 20,000 shares of the company's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $140.07, for a total value of $2,801,400.00. Following the sale, the director owned 367,984 shares of the company's stock, valued at $51,543,518.88. This represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,391 shares of company stock valued at $11,869,925 over the last quarter. Insiders own 9.73% of the company's stock.

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.