Voya Investment Management LLC Buys 2,934 Shares of Shake Shack, Inc. (SHAK)
Voya Investment Management LLC lifted its stake in Shake Shack, Inc. (NYSE:SHAK) by 46.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,277 shares of the company’s stock after purchasing an additional 2,934 shares during the quarter. Voya Investment Management LLC’s holdings in Shake Shack were worth $324,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of SHAK. UBS Asset Management Americas Inc. acquired a new stake in shares of Shake Shack in the second quarter valued at approximately $8,681,000. Vanguard Group Inc. increased its holdings in shares of Shake Shack by 9.5% in the second quarter. Vanguard Group Inc. now owns 1,641,799 shares of the company’s stock valued at $57,266,000 after purchasing an additional 143,027 shares during the last quarter. FMR LLC increased its holdings in shares of Shake Shack by 5.7% in the second quarter. FMR LLC now owns 2,615,287 shares of the company’s stock valued at $91,221,000 after purchasing an additional 142,140 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Shake Shack in the first quarter valued at approximately $4,555,000. Finally, Gilder Gagnon Howe & Co. LLC increased its holdings in shares of 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 valued at $80,883,000 after purchasing an additional 128,075 shares during the last quarter. 81.87% of the stock is owned by hedge funds and other institutional investors.
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Shares of Shake Shack, Inc. (NYSE:SHAK) opened at $37.78 on Tuesday. Shake Shack, Inc. has a one year low of $30.12 and a one year high of $39.70. The firm has a market capitalization of $1,408.56, a price-to-earnings ratio of 68.48, a PEG ratio of 3.32 and a beta of 1.39.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. Shake Shack had a return on equity of 9.42% and a net margin of 4.78%. The business had revenue of $94.60 million during the quarter, compared to analysts’ expectations of $94.17 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The company’s revenue was up 26.8% on a year-over-year basis. research analysts predict that Shake Shack, Inc. will post 0.52 EPS for the current fiscal year.
SHAK has been the subject of several recent analyst reports. BidaskClub raised Shake Shack from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Wedbush reissued an “outperform” rating and set a $40.00 target price (down previously from $43.00) on shares of Shake Shack in a research note on Sunday, July 30th. Barclays PLC raised their target price on Shake Shack from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. Cowen and Company reissued a “hold” rating and set a $35.00 target price on shares of Shake Shack in a research note on Tuesday, September 12th. Finally, Morgan Stanley raised their target price on Shake Shack from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Shake Shack presently has an average rating of “Hold” and an average target price of $37.33.
In related news, major shareholder Equity Group L.P. Select sold 50,630 shares of Shake Shack stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $36.57, for a total value of $1,851,539.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Flug sold 4,800 shares of Shake Shack stock in a transaction on 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 transaction, the director now owns 4,415 shares of the company’s stock, valued at $136,688.40. The disclosure for this sale can be found here. Insiders sold 266,630 shares of company stock valued at $9,150,062 over the last ninety days. Insiders own 34.91% of the company’s stock.
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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