Shake Shack Inc. (NYSE:SHAK) Shares Bought by DAVENPORT & Co LLC

DAVENPORT & Co LLC boosted its position in shares of Shake Shack Inc. (NYSE:SHAKGet Rating) by 17.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,085 shares of the company’s stock after acquiring an additional 907 shares during the period. DAVENPORT & Co LLC’s holdings in Shake Shack were worth $413,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Rhumbline Advisers lifted its position in shares of Shake Shack by 2.1% during the 4th quarter. Rhumbline Advisers now owns 89,282 shares of the company’s stock worth $6,443,000 after buying an additional 1,855 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Shake Shack by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 272,730 shares of the company’s stock worth $19,681,000 after buying an additional 3,743 shares during the last quarter. Inspire Investing LLC purchased a new stake in shares of Shake Shack during the 1st quarter worth approximately $237,000. Envestnet Asset Management Inc. lifted its position in shares of Shake Shack by 23.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 21,412 shares of the company’s stock worth $1,545,000 after buying an additional 4,107 shares during the last quarter. Finally, Franklin Street Capital Partners LLC purchased a new stake in Shake Shack in the 4th quarter valued at $640,000. Hedge funds and other institutional investors own 81.03% of the company’s stock.

Shake Shack Stock Performance

NYSE:SHAK opened at $45.00 on Wednesday. The company has a quick ratio of 3.04, a current ratio of 3.07 and a debt-to-equity ratio of 0.57. Shake Shack Inc. has a fifty-two week low of $37.72 and a fifty-two week high of $104.98. The stock has a market cap of $1.89 billion, a PE ratio of -86.54 and a beta of 1.51. The firm’s fifty day simple moving average is $43.41 and its 200-day simple moving average is $57.51.

Shake Shack (NYSE:SHAKGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.03. The firm had revenue of $203.39 million for the quarter, compared to analysts’ expectations of $200.64 million. Shake Shack had a negative net margin of 2.55% and a negative return on equity of 2.87%. The firm’s revenue was up 31.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.04 EPS. Analysts expect that Shake Shack Inc. will post -0.32 earnings per share for the current fiscal year.

Insider Activity at Shake Shack

In related news, COO Zach Koff sold 5,000 shares of the stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the sale, the chief operating officer now directly owns 31,085 shares of the company’s stock, valued at approximately $1,398,825. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Daniel Harris Meyer bought 21,000 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The shares were acquired at an average cost of $39.58 per share, with a total value of $831,180.00. Following the completion of the transaction, the director now owns 576,364 shares of the company’s stock, valued at $22,812,487.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Zach Koff sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the completion of the sale, the chief operating officer now directly owns 31,085 shares in the company, valued at $1,398,825. The disclosure for this sale can be found here. 9.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on SHAK. Cowen reduced their price target on shares of Shake Shack from $70.00 to $52.00 in a research report on Wednesday, July 13th. Truist Financial reduced their price target on shares of Shake Shack from $86.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, July 1st. Morgan Stanley reduced their price target on shares of Shake Shack from $63.00 to $48.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. BTIG Research reduced their price target on shares of Shake Shack from $85.00 to $70.00 in a research report on Friday, May 6th. Finally, StockNews.com began coverage on shares of Shake Shack in a research report on Thursday, March 31st. They issued a “sell” rating for the company. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Shake Shack presently has a consensus rating of “Hold” and an average price target of $69.22.

Shake Shack Profile

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Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 29, 2021, it operated 369 Shacks, including 218 domestic company-operated Shacks, 25 domestic licensed Shacks, and 126 international licensed Shacks.

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Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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