Shake Shack, Inc. $SHAK Position Reduced by Wasatch Advisors LP

Key Points

• Wasatch Advisors reduced its Shake Shack stake by 21.8% in the second quarter, selling 88,661 shares and retaining 318,622 shares worth approximately $17.85 million. Institutional investors collectively own 86.07% of the company.
• Analyst sentiment remains moderately positive, with 15 Buy ratings and 12 Holds producing a consensus “Moderate Buy” rating and an average price target of $89.74, despite several recent target-price cuts.
• Shake Shack reported quarterly EPS of $0.43, beating estimates of $0.31, while revenue rose 17.2% year over year to $417.62 million. The stock opened at $72.91, well below its 52-week high of $109.68.

Wasatch Advisors LP trimmed its position in Shake Shack, Inc. (NYSE:SHAK - Free Report) by 21.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 318,622 shares of the company's stock after selling 88,661 shares during the period. Wasatch Advisors LP owned approximately 0.74% of Shake Shack worth $17,849,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SHAK. Glenview Trust co lifted its holdings in shares of Shake Shack by 1.5% in the second quarter. Glenview Trust co now owns 6,925 shares of the company's stock valued at $974,000 after buying an additional 100 shares during the period. UMB Bank n.a. raised its position in Shake Shack by 42.2% in the fourth quarter. UMB Bank n.a. now owns 391 shares of the company's stock worth $32,000 after acquiring an additional 116 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in Shake Shack by 2.1% in the 4th quarter. Maryland State Retirement & Pension System now owns 5,905 shares of the company's stock valued at $479,000 after acquiring an additional 119 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Shake Shack by 18.2% in the 4th quarter. Farther Finance Advisors LLC now owns 935 shares of the company's stock valued at $76,000 after acquiring an additional 144 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Shake Shack by 1.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,186 shares of the company's stock valued at $746,000 after purchasing an additional 150 shares in the last quarter. 86.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on SHAK. DA Davidson increased their target price on shares of Shake Shack from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft cut their price objective on Shake Shack from $105.00 to $93.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Wall Street Zen raised Shake Shack from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. Piper Sandler reduced their target price on Shake Shack from $79.00 to $66.00 and set a "neutral" rating for the company in a report on Tuesday, July 14th. Finally, TD Cowen reissued a "hold" rating on shares of Shake Shack in a research note on Wednesday, August 5th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $89.74.

Shake Shack Trading Up 1.6%

NYSE:SHAK opened at $72.91 on Thursday. The stock has a market cap of $3.12 billion, a PE ratio of 77.56, a price-to-earnings-growth ratio of 7.86 and a beta of 1.63. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.67 and a quick ratio of 1.64. The stock's 50-day moving average is $59.45 and its two-hundred day moving average is $77.35. Shake Shack, Inc. has a fifty-two week low of $51.60 and a fifty-two week high of $109.68.

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

Insider Transactions at Shake Shack

In other Shake Shack news, Director Jeffrey Flug acquired 1,000 shares of the business's stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average price of $61.30 per share, with a total value of $61,300.00. Following the completion of the transaction, the director owned 5,470 shares in the company, valued at $335,311. The trade was a 22.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Lynch acquired 5,000 shares of Shake Shack stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $60.39 per share, with a total value of $301,950.00. Following the purchase, the chief executive officer owned 77,845 shares in the company, valued at $4,701,059.55. The trade was a 6.86% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 50,616 shares of company stock valued at $3,109,782 in the last ninety days. 8.32% of the stock is currently owned by insiders.

About Shake Shack

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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