Fred Alger Management LLC Buys 8,046 Shares of Shake Shack, Inc. $SHAK

Key Points

• Fred Alger Management LLC increased its stake in Shake Shack by 7.0%, acquiring an additional 8,046 shares to own a total of 123,544 shares valued at approximately $10.89 million.
• Several hedge funds, including Ameriprise Financial Inc. and Nuveen LLC, also significantly boosted their stakes in Shake Shack, highlighting increased institutional interest with 86.07% of the stock owned by institutional investors.
• Shake Shack reported better-than-expected earnings with an EPS of $0.44, surpassing analysts' estimates of $0.37, and its revenue rose by 12.6% year-over-year to $356.47 million.

Fred Alger Management LLC grew its stake in Shake Shack, Inc. (NYSE:SHAK - Free Report) by 7.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,544 shares of the company's stock after acquiring an additional 8,046 shares during the quarter. Fred Alger Management LLC owned 0.29% of Shake Shack worth $10,893,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SHAK. Nuveen LLC bought a new stake in Shake Shack in the first quarter worth $42,802,000. Ameriprise Financial Inc. boosted its holdings in Shake Shack by 144.3% in the first quarter. Ameriprise Financial Inc. now owns 791,857 shares of the company's stock worth $69,805,000 after acquiring an additional 467,748 shares in the last quarter. Jump Financial LLC bought a new position in Shake Shack in the 1st quarter valued at approximately $17,064,000. Champlain Investment Partners LLC lifted its position in Shake Shack by 59.5% in the 1st quarter. Champlain Investment Partners LLC now owns 357,776 shares of the company's stock valued at $31,545,000 after acquiring an additional 133,440 shares in the last quarter. Finally, Van Berkom & Associates Inc. lifted its position in Shake Shack by 19.0% in the 1st quarter. Van Berkom & Associates Inc. now owns 785,594 shares of the company's stock valued at $69,266,000 after acquiring an additional 125,357 shares in the last quarter. 86.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Shake Shack news, Director Daniel Harris Meyer sold 14,200 shares of the stock in a transaction on Wednesday, July 2nd. The stock was 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 owned 337,984 shares in the company, valued at approximately $47,422,535.04. This represents a 4.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Katherine Irene Fogertey sold 670 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $140.03, for a total value of $93,820.10. Following the completion of the sale, the chief financial officer owned 32,495 shares of the company's stock, valued at $4,550,274.85. The trade was a 2.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,211 shares of company stock valued at $7,944,616 in the last quarter. 8.50% of the stock is currently owned by company insiders.

Shake Shack Price Performance

Shares of Shake Shack stock opened at $97.48 on Tuesday. Shake Shack, Inc. has a one year low of $72.93 and a one year high of $144.65. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.89 and a current ratio of 1.92. The stock has a market cap of $4.16 billion, a P/E ratio of 211.92, a P/E/G ratio of 2.29 and a beta of 1.68. The stock's fifty day moving average is $120.66 and its 200 day moving average is $110.15.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. TD Cowen upped their price objective on Shake Shack from $105.00 to $110.00 and gave the company a "hold" rating in a research report on Thursday, July 31st. Sanford C. Bernstein set a $166.00 price objective on Shake Shack and gave the company an "overweight" rating in a research report on Thursday, June 26th. Wells Fargo & Company upped their price objective on Shake Shack from $115.00 to $125.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Loop Capital reaffirmed a "hold" rating and issued a $127.00 price objective on shares of Shake Shack in a research report on Tuesday, July 8th. Finally, Bank of America upped their price objective on Shake Shack from $134.00 to $148.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Shake Shack presently has a consensus rating of "Hold" and an average price target of $133.05.

About Shake Shack

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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