Daniel Harris Meyer Sells 15,800 Shares of Shake Shack, Inc. (NYSE:SHAK) Stock

Shake Shack, Inc. (NYSE:SHAK - Get Free Report) Director Daniel Harris Meyer sold 15,800 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $139.03, for a total transaction of $2,196,674.00. Following the completion of the sale, the director directly owned 352,184 shares of the company's stock, valued at approximately $48,964,141.52. This trade represents a 4.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Daniel Harris Meyer also recently made the following trade(s):

• On Wednesday, July 2nd, Daniel Harris Meyer sold 14,200 shares of Shake Shack stock. The shares were sold at an average price of $140.31, for a total transaction of $1,992,402.00.
• On Thursday, June 26th, Daniel Harris Meyer sold 20,000 shares of Shake Shack stock. The shares were sold at an average price of $140.07, for a total transaction of $2,801,400.00.
• On Thursday, June 5th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The stock was sold at an average price of $130.26, for a total value of $1,302,600.00.
• On Friday, May 30th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The stock was sold at an average price of $130.10, for a total transaction of $1,301,000.00.
• On Friday, May 30th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The stock was sold at an average price of $130.10, for a total transaction of $1,301,000.00.

Shake Shack Stock Performance

NYSE:SHAK traded down $0.14 during trading hours on Friday, hitting $141.12. 525,429 shares of the company traded hands, compared to its average volume of 1,201,546. The firm has a 50-day moving average of $120.79 and a 200 day moving average of $111.10. Shake Shack, Inc. has a twelve month low of $72.93 and a twelve month high of $142.51. The company has a current ratio of 1.91, a quick ratio of 1.88 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 504.00, a P/E/G ratio of 3.36 and a beta of 1.77.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Oppenheimer restated an "outperform" rating and set a $160.00 target price (up from $125.00) on shares of Shake Shack in a research report on Thursday, June 26th. KeyCorp assumed coverage on shares of Shake Shack in a research report on Monday, June 2nd. They set a "sector weight" rating for the company. TD Cowen downgraded Shake Shack from a "buy" rating to a "hold" rating and set a $105.00 price objective on the stock. in a research report on Monday, May 19th. Stifel Nicolaus cut their target price on shares of Shake Shack from $120.00 to $97.00 and set a "hold" rating for the company in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. upped their target price 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. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $124.43.

Institutional Investors Weigh In On Shake Shack

Institutional investors and hedge funds have recently made changes to their positions in the company. Nemes Rush Group LLC acquired a new position in Shake Shack during the fourth quarter valued at approximately $29,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Shake Shack in the 4th quarter valued at approximately $32,000. Farther Finance Advisors LLC increased its stake in Shake Shack by 939.3% during the 1st quarter. Farther Finance Advisors LLC now owns 291 shares of the company's stock worth $26,000 after purchasing an additional 263 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Shake Shack in the first quarter valued at approximately $26,000. Finally, Garde Capital Inc. bought a new position in Shake Shack during the 1st quarter worth about $35,000. Institutional investors own 86.07% of the company's stock.

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.