Driehaus Capital Management LLC Sells 299,082 Shares of Shake Shack, Inc. $SHAK

Key Points

• Driehaus Capital Management LLC reduced its stake in Shake Shack by 58.5%, selling 299,082 shares and leaving them with 212,084 shares valued at approximately $18.7 million.
• Shake Shack's stock has seen price targets adjusted by several analysts, with Wells Fargo increasing theirs from $115 to $125 and UBS raising theirs from $100 to $140.
• The company reported a 12.6% year-over-year increase in revenue, with earnings of $0.44 EPS for the quarter, surpassing analysts' expectations of $0.37 EPS.

Driehaus Capital Management LLC lowered its stake in Shake Shack, Inc. (NYSE:SHAK - Free Report) by 58.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 212,084 shares of the company's stock after selling 299,082 shares during the quarter. Driehaus Capital Management LLC owned 0.50% of Shake Shack worth $18,699,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its stake in Shake Shack by 157.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,957 shares of the company's stock valued at $525,000 after purchasing an additional 3,642 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Shake Shack by 6.2% in the fourth quarter. Janus Henderson Group PLC now owns 17,064 shares of the company's stock valued at $2,216,000 after purchasing an additional 1,000 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Shake Shack by 60.7% in the first quarter. Bessemer Group Inc. now owns 5,874 shares of the company's stock valued at $518,000 after purchasing an additional 2,218 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Shake Shack by 53.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,421 shares of the company's stock valued at $566,000 after purchasing an additional 2,229 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings 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 valued at $8,730,000 after purchasing an additional 98,279 shares during the last quarter. Institutional investors own 86.07% of the company's stock.

Analysts Set New Price Targets

SHAK has been the subject of several research reports. Oppenheimer restated an "outperform" rating and set a $160.00 price target (up previously from $125.00) on shares of Shake Shack in a research report on Thursday, June 26th. The Goldman Sachs Group increased their price target on shares of Shake Shack from $120.00 to $145.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Sanford C. Bernstein set a $166.00 price target on shares of Shake Shack and gave the company an "overweight" rating in a research report on Thursday, June 26th. TD Securities restated a "hold" rating and set a $105.00 price target on shares of Shake Shack in a research report on Thursday, June 26th. Finally, Wells Fargo & Company increased their price target on shares of Shake Shack from $115.00 to $125.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $133.05.

Insider Activity at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 3,956 shares of Shake Shack stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $127.49, for a total value of $504,350.44. Following the sale, the chief financial officer owned 35,750 shares in the company, valued at $4,557,767.50. The trade was a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel Harris Meyer sold 20,000 shares of Shake Shack stock in a transaction on 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 completion of the sale, the director owned 367,984 shares in the company, valued at approximately $51,543,518.88. This trade represents a 5.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 57,211 shares of company stock worth $7,944,616 in the last 90 days. Company insiders own 8.50% of the company's stock.

Shake Shack Stock Performance

NYSE:SHAK traded down $1.73 on Thursday, reaching $103.45. 381,824 shares of the company's stock were exchanged, compared to its average volume of 1,441,332. 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 has a market cap of $4.42 billion, a price-to-earnings ratio of 225.80, a P/E/G ratio of 2.42 and a beta of 1.68. Shake Shack, Inc. has a 52 week low of $72.93 and a 52 week high of $144.65. The stock has a fifty day simple moving average of $123.03 and a 200-day simple moving average of $110.49.

Shake Shack (NYSE:SHAK - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.07. The business had revenue of $356.47 million for the quarter, compared to the consensus estimate of $352.56 million. Shake Shack had a net margin of 1.50% and a return on equity of 9.78%. Shake Shack's quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the firm posted $0.27 earnings per share. Shake Shack has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts predict that Shake Shack, Inc. will post 1.26 earnings per share 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.