Wealth Enhancement Advisory Services LLC Boosts Stock Position in Shake Shack, Inc. (NYSE:SHAK)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) by 53.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,421 shares of the company's stock after acquiring an additional 2,229 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Shake Shack were worth $566,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Shake Shack by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,930 shares of the company's stock worth $46,979,000 after acquiring an additional 8,429 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Shake Shack by 6.2% during the fourth quarter. Janus Henderson Group PLC now owns 17,064 shares of the company's stock worth $2,216,000 after acquiring an additional 1,000 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Shake Shack during the fourth quarter worth $260,000. GAMMA Investing LLC lifted its position in shares of Shake Shack by 13,353.1% during the first quarter. GAMMA Investing LLC now owns 99,015 shares of the company's stock worth $8,730,000 after acquiring an additional 98,279 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Shake Shack during the first quarter worth $1,167,000. Hedge funds and other institutional investors own 86.07% of the company's stock.

Shake Shack Stock Down 0.1%

SHAK opened at $141.12 on Friday. The stock has a market cap of $6.02 billion, a PE ratio of 504.00, a P/E/G ratio of 3.36 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, Inc. has a 52 week low of $72.93 and a 52 week high of $142.51. The business's fifty day simple moving average is $120.79 and its 200 day simple moving average is $111.10.

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

Insider Transactions at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 14,200 shares of the firm's 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 completion of the sale, the director directly owned 337,984 shares in the company, valued at $47,422,535.04. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Katherine Irene Fogertey sold 562 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $124.84, for a total transaction of $70,160.08. Following the completion of the sale, the chief financial officer owned 35,188 shares of the company's stock, valued at $4,392,869.92. This trade represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,698 shares of company stock valued at $11,490,296. 9.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on SHAK. TD Cowen downgraded Shake Shack from a "buy" rating to a "hold" rating and set a $105.00 target price on the stock. in a research report on Monday, May 19th. The Goldman Sachs Group increased their target price on Shake Shack from $120.00 to $145.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Truist Financial increased their target price on Shake Shack from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday. Oppenheimer reaffirmed an "outperform" rating and issued a $160.00 price target (up previously from $125.00) on shares of Shake Shack in a report on Thursday, June 26th. Finally, Robert W. Baird upped their price target on shares of Shake Shack from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $124.43.

About Shake Shack

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.

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