BKS Advisors LLC Reduces Position in Shake Shack, Inc. (SHAK)
BKS Advisors LLC cut its position in shares of Shake Shack, Inc. (NYSE:SHAK) by 13.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,000 shares of the company’s stock after selling 2,000 shares during the period. BKS Advisors LLC owned approximately 0.05% of Shake Shack worth $453,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. FNY Partners Fund LP bought a new stake in Shake Shack during the first quarter valued at about $100,000. BNP Paribas Arbitrage SA raised its stake in Shake Shack by 206.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,666 shares of the company’s stock valued at $122,000 after buying an additional 2,469 shares during the period. Victory Capital Management Inc. raised its stake in Shake Shack by 109.7% in the first quarter. Victory Capital Management Inc. now owns 3,715 shares of the company’s stock valued at $124,000 after buying an additional 1,943 shares during the period. State of Alaska Department of Revenue raised its stake in Shake Shack by 85.2% in the second quarter. State of Alaska Department of Revenue now owns 3,630 shares of the company’s stock valued at $126,000 after buying an additional 1,670 shares during the period. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Shake Shack during the first quarter valued at about $137,000. 97.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Shake Shack, Inc. (NYSE:SHAK) opened at 30.60 on Thursday. The company’s 50 day moving average price is $33.22 and its 200 day moving average price is $34.61. Shake Shack, Inc. has a 12 month low of $30.31 and a 12 month high of $39.70. The company has a market capitalization of $795.02 million, a P/E ratio of 53.31 and a beta of 1.29.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.04. The business had revenue of $91.30 million during the quarter, compared to the consensus estimate of $89 million. Shake Shack had a net margin of 4.70% and a return on equity of 8.71%. The firm’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. Analysts expect that Shake Shack, Inc. will post $0.52 EPS for the current fiscal year.
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Several research firms have recently issued reports on SHAK. SunTrust Banks, Inc. reissued a “buy” rating on shares of Shake Shack in a report on Monday, August 21st. Wedbush reissued a “buy” rating on shares of Shake Shack in a report on Thursday, August 17th. TheStreet raised Shake Shack from a “d” rating to a “c-” rating in a report on Thursday, August 3rd. Barclays PLC reduced their target price on Shake Shack from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, August 4th. Finally, BidaskClub lowered Shake Shack from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.60.
In other Shake Shack news, Director Jeffrey Flug sold 4,800 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $30.96, for a total value of $148,608.00. Following the completion of the sale, the director now owns 4,415 shares of the company’s stock, valued at $136,688.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Harris Meyer sold 25,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $38.04, for a total transaction of $951,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 96,252 shares of company stock valued at $3,327,297. 34.91% of the stock is owned by insiders.
About Shake Shack
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
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