Shake Shack, Inc. (SHAK) CEO Randall J. Garutti Sells 8,000 Shares
Shake Shack, Inc. (NYSE:SHAK) CEO Randall J. Garutti sold 8,000 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $31.12, for a total transaction of $248,960.00. Following the completion of the transaction, the chief executive officer now directly owns 18,961 shares of the company’s stock, valued at approximately $590,066.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shake Shack, Inc. (NYSE:SHAK) opened at 30.78 on Wednesday. Shake Shack, Inc. has a 52 week low of $30.36 and a 52 week high of $39.70. The company has a 50-day moving average of $33.22 and a 200-day moving average of $34.61. The firm has a market capitalization of $799.70 million, a price-to-earnings ratio of 53.62 and a beta of 1.29.
Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, August 3rd. The company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.04. The firm had revenue of $91.30 million for 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 company’s revenue was up 37.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 EPS. On average, equities analysts forecast that Shake Shack, Inc. will post $0.52 earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on the stock. Wedbush reissued a “buy” rating on shares of Shake Shack in a report on Thursday, August 17th. SunTrust Banks, Inc. reissued a “buy” rating on shares of Shake Shack in a report on Monday, August 21st. Vetr lowered shares of Shake Shack from a “strong-buy” rating to a “buy” rating and set a $42.33 price target for the company. in a report on Wednesday, June 7th. TheStreet raised shares of Shake Shack from a “d” rating to a “c-” rating in a report on Thursday, August 3rd. Finally, Barclays PLC decreased their price target on shares of Shake Shack from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $37.60.
Hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in Shake Shack by 30.7% in the first quarter. Morgan Stanley now owns 3,179,116 shares of the company’s stock worth $106,183,000 after buying an additional 747,486 shares in the last quarter. FMR LLC increased its stake in Shake Shack by 5.7% in the second quarter. FMR LLC now owns 2,615,287 shares of the company’s stock worth $91,221,000 after buying an additional 142,140 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in Shake Shack by 5.8% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,318,882 shares of the company’s stock worth $80,883,000 after buying an additional 128,075 shares in the last quarter. Vanguard Group Inc. increased its stake in Shake Shack by 9.5% in the second quarter. Vanguard Group Inc. now owns 1,641,799 shares of the company’s stock worth $57,266,000 after buying an additional 143,027 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in Shake Shack by 18.9% in the second quarter. Macquarie Group Ltd. now owns 844,390 shares of the company’s stock worth $29,452,000 after buying an additional 134,386 shares in the last quarter. 97.46% of the stock is currently owned by hedge funds and other institutional investors.
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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