Van Berkom & Associates Inc. Grows Position in Shake Shack, Inc. (NYSE:SHAK)

Key Points

• Van Berkom & Associates Inc. increased its stake in Shake Shack, Inc. by 19% during the first quarter, now owning 785,594 shares worth approximately $69.3 million, making it the 24th largest position in their portfolio.
• Insider selling occurred with CFO Katherine Fogertey and Director Daniel Harris Meyer offloading shares, reducing their positions by 2.02% and 4.03%, respectively, while insiders have sold a total of 87,391 shares valued at nearly $11.9 million in the last three months.
• Equities analysts have varied opinions on Shake Shack, with target prices ranging from $90 to $140, leading to a consensus rating of "Hold" and an average target price of approximately $128.68.

Van Berkom & Associates Inc. lifted its position in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) by 19.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 785,594 shares of the company's stock after purchasing an additional 125,357 shares during the quarter. Shake Shack accounts for 2.2% of Van Berkom & Associates Inc.'s portfolio, making the stock its 24th largest position. Van Berkom & Associates Inc. owned approximately 1.85% of Shake Shack worth $69,266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHAK. Vanguard Group Inc. raised its holdings in shares of Shake Shack by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company's stock worth $574,497,000 after acquiring an additional 49,883 shares during the period. Invesco Ltd. increased its stake in shares of Shake Shack by 30.7% during the 4th quarter. Invesco Ltd. now owns 1,245,093 shares of the company's stock worth $161,613,000 after purchasing an additional 292,348 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in Shake Shack by 17.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company's stock valued at $116,078,000 after buying an additional 134,475 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Shake Shack by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 760,595 shares of the company's stock valued at $98,726,000 after buying an additional 19,320 shares during the last quarter. Finally, Wasatch Advisors LP grew its stake in Shake Shack by 1.8% in the 4th quarter. Wasatch Advisors LP now owns 566,425 shares of the company's stock valued at $73,522,000 after buying an additional 10,147 shares during the last quarter. 86.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SHAK has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Shake Shack from $100.00 to $110.00 and gave the company an "underweight" rating in a report on Wednesday, June 25th. TD Securities reissued a "hold" rating and issued a $105.00 price objective on shares of Shake Shack in a research note on Thursday, June 26th. Loop Capital restated a "hold" rating and issued a $127.00 price target on shares of Shake Shack in a research report on Tuesday, July 8th. UBS Group reissued a "neutral" rating and set a $140.00 target price (up from $100.00) on shares of Shake Shack in a research note on Friday, July 25th. Finally, The Goldman Sachs Group raised their price objective on shares of Shake Shack from $120.00 to $145.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $130.29.

Shake Shack Stock Up 3.1%

NYSE:SHAK traded up $4.28 during mid-day trading on Wednesday, reaching $141.40. The company's stock had a trading volume of 522,441 shares, compared to its average volume of 1,397,210. Shake Shack, Inc. has a 1 year low of $72.93 and a 1 year high of $144.65. The stock has a fifty day moving average of $131.78 and a 200-day moving average of $111.56. The firm has a market capitalization of $6.03 billion, a PE ratio of 504.68, a price-to-earnings-growth ratio of 3.24 and a beta of 1.77. The company has a quick ratio of 1.88, a current ratio of 1.91 and a debt-to-equity ratio of 0.50.

Shake Shack (NYSE:SHAK - Get Free Report) last issued 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 business had revenue of $320.90 million during the quarter, compared to analyst estimates of $330.24 million. Shake Shack had a return on equity of 8.45% and a net margin of 0.97%. Shake Shack's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 EPS. Equities research analysts forecast that Shake Shack, Inc. will post 1.26 earnings per share for the current year.

Insider Buying and Selling at Shake Shack

In other news, Director Daniel Harris Meyer sold 14,200 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $140.31, for a total transaction of $1,992,402.00. Following the completion of the transaction, the director directly owned 337,984 shares of the company's stock, valued at approximately $47,422,535.04. The trade was 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 670 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $140.03, for a total value of $93,820.10. Following the completion of the transaction, the chief financial officer directly owned 32,495 shares of the company's stock, valued at $4,550,274.85. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,391 shares of company stock worth $11,869,925. 9.73% of the stock is currently owned by corporate insiders.

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.