Bessemer Group Inc. Grows Holdings in Shake Shack, Inc. (NYSE:SHAK)

Bessemer Group Inc. grew its position in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) by 60.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,874 shares of the company's stock after purchasing an additional 2,218 shares during the quarter. Bessemer Group Inc.'s holdings in Shake Shack were worth $518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Spire Wealth Management increased its holdings in Shake Shack by 881.2% in the first quarter. Spire Wealth Management now owns 1,982 shares of the company's stock worth $175,000 after purchasing an additional 1,780 shares in the last quarter. Cooper Investors PTY Ltd. bought a new position in Shake Shack during the first quarter worth $44,000. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Shake Shack by 157.3% during the first 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 during the period. Garde Capital Inc. bought a new position in shares of Shake Shack during the 1st quarter worth about $35,000. Finally, Janney Montgomery Scott LLC increased its position in Shake Shack by 74.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,636 shares of the company's stock valued at $1,202,000 after buying an additional 5,840 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company's stock.

Insider Activity

In other news, Director Daniel Harris Meyer sold 14,200 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $140.31, for a total value of $1,992,402.00. Following the sale, the director directly owned 337,984 shares of the company's stock, valued at approximately $47,422,535.04. This represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Katherine Irene Fogertey sold 562 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $124.84, for a total transaction of $70,160.08. Following the transaction, the chief financial officer directly owned 35,188 shares of the company's stock, valued at approximately $4,392,869.92. This represents a 1.57% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,698 shares of company stock worth $11,490,296. Company insiders own 9.73% of the company's stock.

Shake Shack Stock Performance

SHAK stock traded down $0.14 during midday trading on Friday, reaching $141.12. 525,429 shares of the company's stock traded hands, compared to its average volume of 1,201,546. The firm has a market capitalization of $6.02 billion, a PE ratio of 504.00, a price-to-earnings-growth ratio of 3.34 and a beta of 1.77. The company has a 50-day moving average price of $119.79 and a two-hundred day moving average price of $111.02. Shake Shack, Inc. has a 52 week low of $72.93 and a 52 week high of $142.51. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.88 and a current ratio of 1.91.

Shake Shack (NYSE:SHAK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $320.90 million during the quarter, compared to analysts' expectations of $330.24 million. Shake Shack had a net margin of 0.97% and a return on equity of 8.45%. Shake Shack's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. As a group, equities analysts anticipate that Shake Shack, Inc. will post 1.26 EPS for the current year.

Analyst Upgrades and Downgrades

SHAK has been the topic of a number of research reports. Loop Capital raised Shake Shack from a "hold" rating to a "buy" rating and set a $127.00 target price on the stock in a research report on Tuesday, April 1st. The Goldman Sachs Group upped their price objective on shares of Shake Shack from $120.00 to $145.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Truist Financial lifted their price objective on shares of Shake Shack from $140.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $140.00 price target (down previously from $145.00) on shares of Shake Shack in a research report on Friday, May 2nd. Finally, Bank of America boosted their price objective on Shake Shack from $112.00 to $134.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $124.43.

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.