Hedeker Wealth LLC Invests $2.84 Million in Shake Shack, Inc. $SHAK

Key Points

• Hedeker Wealth LLC purchased 50,752 Shake Shack shares worth approximately $2.84 million in the second quarter, representing about 0.12% of the company. Institutional investors and hedge funds collectively own 86.07% of SHAK.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $89.71, despite several recent target reductions.
• Shake Shack reported quarterly EPS of $0.43, exceeding the $0.31 estimate, while revenue rose 17.2% year over year to $417.62 million. Shares opened at $67.41, down 2.9%, and remain well below the 52-week high of $107.46.

Hedeker Wealth LLC purchased a new position in Shake Shack, Inc. (NYSE:SHAK - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 50,752 shares of the company's stock, valued at approximately $2,843,000. Hedeker Wealth LLC owned about 0.12% of Shake Shack as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Glenview Trust co increased its position in shares of Shake Shack by 1.5% in the 2nd quarter. Glenview Trust co now owns 6,925 shares of the company's stock valued at $974,000 after purchasing an additional 100 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Shake Shack by 42.2% during the 4th quarter. UMB Bank n.a. now owns 391 shares of the company's stock worth $32,000 after purchasing an additional 116 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Shake Shack by 2.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 5,905 shares of the company's stock worth $479,000 after purchasing an additional 119 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Shake Shack by 1.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,186 shares of the company's stock worth $746,000 after purchasing an additional 150 shares in the last quarter. Finally, Hilton Head Capital Partners LLC increased its holdings in Shake Shack by 65.0% in the first quarter. Hilton Head Capital Partners LLC now owns 513 shares of the company's stock valued at $45,000 after buying an additional 202 shares during the last quarter. Institutional investors and hedge funds own 86.07% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on SHAK shares. Gordon Haskett cut their price target on Shake Shack from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, June 3rd. TD Cowen reiterated a "hold" rating on shares of Shake Shack in a report on Wednesday, August 5th. Zacks Research raised Shake Shack from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft decreased their target price on Shake Shack from $105.00 to $93.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Finally, Morgan Stanley set a $74.00 price target on shares of Shake Shack in a research note on Thursday, August 6th. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $89.71.

Shake Shack Stock Down 2.9%

Shares of NYSE SHAK opened at $67.41 on Wednesday. The business has a 50-day moving average price of $65.31 and a 200 day moving average price of $74.61. The stock has a market cap of $2.89 billion, a PE ratio of 71.71, a price-to-earnings-growth ratio of 7.59 and a beta of 1.66. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.43. Shake Shack, Inc. has a 52-week low of $51.60 and a 52-week high of $107.46.

Shake Shack (NYSE:SHAK - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.31 by $0.12. The company had revenue of $417.62 million for the quarter, compared to analyst estimates of $417.18 million. Shake Shack had a return on equity of 9.29% and a net margin of 2.56%.The firm's revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. Equities research analysts forecast that Shake Shack, Inc. will post 1.13 earnings per share for the current year.

Shake Shack Profile

Shake Shack, Inc NYSE: SHAK is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City's Madison Square Park in 2001 by Danny Meyer's Union Square Hospitality Group.

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