Shake Shack, Inc. $SHAK Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its Shake Shack stake by 2.5% in the first quarter, bringing its holdings to 670,111 shares worth approximately $59.3 million. Institutional investors collectively own 86.07% of the company.
• Shake Shack directors reported significant insider buying, with insiders purchasing 50,616 shares valued at about $3.1 million over the past 90 days. Insiders now own 8.32% of the stock.
• The stock opened at $62.65, well below its one-year high of $127.65. Analysts maintain a consensus “Hold” rating with an average price target of $88.52, although recent target reductions reflect mixed sentiment.

Dimensional Fund Advisors LP raised its stake in Shake Shack, Inc. (NYSE:SHAK - Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 670,111 shares of the company's stock after buying an additional 16,439 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.57% of Shake Shack worth $59,276,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC grew its position in Shake Shack by 40.1% in the 4th quarter. Intech Investment Management LLC now owns 77,916 shares of the company's stock worth $6,324,000 after purchasing an additional 22,287 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Shake Shack during the fourth quarter valued at approximately $2,898,000. Madison Asset Management LLC boosted its position in shares of Shake Shack by 37.3% during the fourth quarter. Madison Asset Management LLC now owns 58,404 shares of the company's stock worth $4,741,000 after buying an additional 15,852 shares during the period. Swedbank AB acquired a new position in shares of Shake Shack during the fourth quarter worth approximately $84,092,000. Finally, D.A. Davidson & CO. boosted its position in shares of Shake Shack by 115.5% during the fourth quarter. D.A. Davidson & CO. now owns 24,276 shares of the company's stock worth $1,970,000 after buying an additional 13,013 shares during the period. Institutional investors and hedge funds own 86.07% of the company's stock.

Insider Buying and Selling at Shake Shack

In related news, Director Daniel Harris Meyer purchased 32,258 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average price of $61.88 per share, for a total transaction of $1,996,125.04. Following the transaction, the director directly owned 378,670 shares of the company's stock, valued at $23,432,099.60. This trade represents a 9.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Josh Silverman purchased 8,290 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average cost of $60.38 per share, for a total transaction of $500,550.20. Following the purchase, the director directly owned 8,290 shares in the company, valued at $500,550.20. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 50,616 shares of company stock valued at $3,109,782 over the last 90 days. 8.32% of the stock is owned by insiders.

Shake Shack Price Performance

Shares of NYSE:SHAK opened at $62.65 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.66 and a current ratio of 1.69. The company has a market capitalization of $2.68 billion, a PE ratio of 63.93, a price-to-earnings-growth ratio of 4.85 and a beta of 1.63. The stock has a fifty day moving average of $58.01 and a 200-day moving average of $79.02. Shake Shack, Inc. has a one year low of $51.60 and a one year high of $127.65.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Barclays reduced their price target on Shake Shack from $118.00 to $96.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Oppenheimer set a $82.00 price objective on shares of Shake Shack and gave the company an "outperform" rating in a research note on Tuesday, June 2nd. UBS Group reaffirmed a "neutral" rating and issued a $79.00 price objective on shares of Shake Shack in a report on Wednesday, June 3rd. Robert W. Baird decreased their target price on shares of Shake Shack from $76.00 to $60.00 and set a "neutral" rating for the company in a research report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Shake Shack from $105.00 to $93.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Fifteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Shake Shack currently has an average rating of "Hold" and a consensus price target of $88.52.

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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