Shake Shack, Inc. $SHAK Shares Acquired by 12 West Capital Management LP

Key Points

• 12 West Capital Management LP increased its Shake Shack stake by 12.0% in the fourth quarter, buying 210,000 additional shares and bringing its total to 1,963,595 shares. The position is now the fund’s largest holding, worth about $159.4 million.
• Shake Shack shares were down 3.0%, opening at $58.60, well below the stock’s 12-month high of $144.65. The company also trades at a market cap of $2.51 billion with a P/E ratio of 59.80.
• There has been notable insider buying, with directors Sumaiya Balbale and Daniel Harris Meyer purchasing shares in May. Analysts remain mixed but generally constructive, with an average rating of Moderate Buy and a consensus price target of $94.56.

12 West Capital Management LP increased its stake in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) by 12.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,963,595 shares of the company's stock after purchasing an additional 210,000 shares during the period. Shake Shack makes up approximately 19.0% of 12 West Capital Management LP's investment portfolio, making the stock its largest position. 12 West Capital Management LP owned 4.60% of Shake Shack worth $159,385,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Glenview Trust co boosted 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 acquiring an additional 100 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Shake Shack by 42.2% in the fourth quarter. UMB Bank n.a. now owns 391 shares of the company's stock valued at $32,000 after purchasing an additional 116 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Shake Shack by 2.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 5,905 shares of the company's stock valued at $479,000 after purchasing an additional 119 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Shake Shack by 18.2% in the fourth quarter. Farther Finance Advisors LLC now owns 935 shares of the company's stock valued at $76,000 after purchasing an additional 144 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Shake Shack by 1.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,186 shares of the company's stock valued at $746,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company's stock.

Shake Shack Trading Down 3.0%

NYSE SHAK opened at $58.60 on Thursday. Shake Shack, Inc. has a 12 month low of $51.60 and a 12 month high of $144.65. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.69 and a quick ratio of 1.66. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 59.80, a price-to-earnings-growth ratio of 2.68 and a beta of 1.63. The company's fifty day moving average price is $76.39 and its two-hundred day moving average price is $84.81.

Insider Activity

In other Shake Shack news, Director Sumaiya Balbale bought 4,068 shares of the company's stock in a transaction on Friday, May 15th. The shares were bought at an average cost of $61.42 per share, with a total value of $249,856.56. Following the completion of the acquisition, the director owned 13,407 shares of the company's stock, valued at approximately $823,457.94. This trade represents a 43.56% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel Harris Meyer acquired 32,258 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of $61.88 per share, for a total transaction of $1,996,125.04. Following the acquisition, the director owned 378,670 shares in the company, valued at approximately $23,432,099.60. This trade represents a 9.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 50,616 shares of company stock worth $3,109,782 over the last ninety days. Insiders own 8.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SHAK. Oppenheimer set a $82.00 price objective on shares of Shake Shack and gave the company an "outperform" rating in a research report on Tuesday, June 2nd. Truist Financial boosted their price objective on shares of Shake Shack from $144.00 to $148.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Mizuho set a $100.00 price target on shares of Shake Shack in a research report on Friday, May 8th. BTIG Research reaffirmed a "neutral" rating on shares of Shake Shack in a research report on Wednesday, May 20th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $76.00 price target (down from $115.00) on shares of Shake Shack in a research report on Wednesday, June 3rd. Sixteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $94.56.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.