BNP PARIBAS ASSET MANAGEMENT Holding S.A. Purchases 12,807 Shares of Shake Shack, Inc. $SHAK

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. has increased its stake in Shake Shack, Inc. by 2.8%, now owning 475,241 shares valued at approximately $41.9 million.
• Recent analyst reports have set varying price targets for Shake Shack's stock, with JPMorgan raising its target to $110 and Oppenheimer raising it to $160, while the average target price is $131.29.
• Shake Shack reported a quarterly earnings per share of $0.44, exceeding expectations and showing a 12.6% revenue increase compared to the same quarter last year.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Shake Shack, Inc. (NYSE:SHAK - Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 475,241 shares of the company's stock after buying an additional 12,807 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 1.12% of Shake Shack worth $41,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its stake in shares of Shake Shack by 8.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 10,289 shares of the company's stock worth $1,336,000 after acquiring an additional 790 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Shake Shack by 1,136.5% during the 4th quarter. NewEdge Advisors LLC now owns 2,065 shares of the company's stock valued at $268,000 after purchasing an additional 1,898 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Shake Shack by 18.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 94,000 shares of the company's stock worth $12,201,000 after purchasing an additional 14,900 shares during the period. First Trust Advisors LP lifted its stake in Shake Shack by 29.4% in the fourth quarter. First Trust Advisors LP now owns 49,936 shares of the company's stock worth $6,482,000 after purchasing an additional 11,333 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake 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 purchasing an additional 19,320 shares during the last quarter. Institutional investors own 86.07% of the company's stock.

Analysts Set New Price Targets

SHAK has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price objective on Shake Shack from $100.00 to $110.00 and gave the stock an "underweight" rating in a report on Wednesday, June 25th. Loop Capital reaffirmed a "hold" rating and issued a $127.00 price target on shares of Shake Shack in a research note on Tuesday, July 8th. TD Securities reissued a "hold" rating and set a $105.00 price objective on shares of Shake Shack in a research note on Thursday, June 26th. Oppenheimer reissued an "outperform" rating and issued a $160.00 price target (up previously from $125.00) on shares of Shake Shack in a report on Thursday, June 26th. Finally, Jefferies Financial Group downgraded shares of Shake Shack from a "hold" rating to an "underperform" rating and upped their price objective for the company from $100.00 to $120.00 in a research note on Thursday, July 17th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $131.29.

Shake Shack Stock Up 1.1%

NYSE:SHAK opened at $106.77 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.92 and a quick ratio of 1.89. The firm's 50-day moving average price is $129.28 and its 200-day moving average price is $111.17. The company has a market capitalization of $4.56 billion, a PE ratio of 232.11, a P/E/G ratio of 2.43 and a beta of 1.82. Shake Shack, Inc. has a 1-year low of $72.93 and a 1-year high of $144.65.

Shake Shack (NYSE:SHAK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.07. Shake Shack had a net margin of 1.50% and a return on equity of 9.78%. The business had revenue of $356.47 million for the quarter, compared to analysts' expectations of $352.56 million. During the same quarter in the prior year, the company earned $0.27 earnings per share. The business's revenue was up 12.6% compared to the same quarter last year. On average, equities analysts predict that Shake Shack, Inc. will post 1.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Katherine Irene Fogertey sold 3,956 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $127.49, for a total transaction of $504,350.44. Following the sale, the chief financial officer directly owned 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer sold 20,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $140.07, for a total transaction of $2,801,400.00. Following the sale, the director owned 367,984 shares of the company's stock, valued at approximately $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. In the last ninety days, insiders have sold 87,211 shares of company stock valued at $11,849,216. 8.50% of the stock is owned by corporate 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.

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