Raymond James Financial Inc. Boosts Position in Shake Shack, Inc. $SHAK

Key Points

• Raymond James Financial Inc. increased its stake in Shake Shack, Inc. by 17.3% during the first quarter, owning approximately 448,310 shares worth around $39.5 million.
• Several hedge funds also added to their stakes, notably Cambridge Investment Research Advisors, which grew holdings by 157.3%, now owning 5,957 shares valued at $525,000.
• Shake Shack's stock has been rated with one strong buy, six buy, thirteen hold, and two sell ratings, with a consensus target price of $132.15.

Raymond James Financial Inc. raised its stake in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) by 17.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 448,310 shares of the company's stock after buying an additional 65,996 shares during the quarter. Raymond James Financial Inc. owned about 1.05% of Shake Shack worth $39,527,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its holdings 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 buying an additional 3,642 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Shake Shack by 6.2% during the 4th quarter. Janus Henderson Group PLC now owns 17,064 shares of the company's stock valued at $2,216,000 after buying an additional 1,000 shares in the last quarter. Bessemer Group Inc. grew its holdings in Shake Shack by 60.7% during the 1st quarter. Bessemer Group Inc. now owns 5,874 shares of the company's stock valued at $518,000 after buying an additional 2,218 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Shake Shack by 53.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,421 shares of the company's stock valued at $566,000 after buying an additional 2,229 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Shake Shack by 13,353.1% during the 1st quarter. GAMMA Investing LLC now owns 99,015 shares of the company's stock valued at $8,730,000 after buying an additional 98,279 shares in the last quarter. Hedge funds and other institutional investors own 86.07% of the company's stock.

Analyst Ratings Changes

SHAK has been the subject of a number of recent analyst reports. TD Securities reaffirmed a "hold" rating and set a $105.00 target price on shares of Shake Shack in a report on Thursday, June 26th. Raymond James Financial reiterated a "strong-buy" rating and set a $160.00 price target (down previously from $165.00) on shares of Shake Shack in a research report on Friday, August 1st. The Goldman Sachs Group lifted their price target on Shake Shack from $120.00 to $145.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Jefferies Financial Group downgraded Shake Shack from a "hold" rating to an "underperform" rating and lifted their price target for the company from $100.00 to $120.00 in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. lifted their price target on Shake Shack from $100.00 to $110.00 and gave the company an "underweight" rating in a research report on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $132.15.

Shake Shack Stock Performance

Shares of SHAK opened at $103.7870 on Friday. The company has a market cap of $4.43 billion, a PE ratio of 225.63, a price-to-earnings-growth ratio of 2.30 and a beta of 1.82. The company has a current ratio of 1.92, a quick ratio of 1.89 and a debt-to-equity ratio of 0.48. Shake Shack, Inc. has a 12-month low of $72.93 and a 12-month high of $144.65. The stock has a 50-day moving average price of $127.01 and a 200-day moving average price of $110.76.

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, beating analysts' consensus estimates of $0.37 by $0.07. The company had revenue of $356.47 million for the quarter, compared to analysts' expectations of $352.56 million. Shake Shack had a return on equity of 9.78% and a net margin of 1.50%.Shake Shack's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $0.27 EPS. Shake Shack has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts forecast that Shake Shack, Inc. will post 1.26 earnings per share for the current fiscal year.

Insider Transactions at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 3,956 shares of the firm'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 transaction, the chief financial officer directly owned 35,750 shares of the company's stock, valued at approximately $4,557,767.50. This trade represents a 9.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $2,801,400.00. Following the transaction, the director directly owned 367,984 shares in the company, 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. Over the last three months, insiders have sold 87,211 shares of company stock worth $11,849,216. 8.50% of the stock is currently owned by insiders.

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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