ProShare Advisors LLC Decreases Position in Shake Shack Inc. (NYSE:SHAK)

ProShare Advisors LLC reduced its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 23.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,814 shares of the company’s stock after selling 1,795 shares during the quarter. ProShare Advisors LLC’s holdings in Shake Shack were worth $523,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SHAK. Sei Investments Co. raised its stake in shares of Shake Shack by 142.4% during the second quarter. Sei Investments Co. now owns 31,133 shares of the company’s stock valued at $2,802,000 after purchasing an additional 18,287 shares during the period. Canada Pension Plan Investment Board increased its stake in Shake Shack by 1.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 26,900 shares of the company’s stock worth $2,421,000 after buying an additional 400 shares during the period. Brighton Jones LLC lifted its holdings in Shake Shack by 1.1% in the 2nd quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock worth $1,612,000 after buying an additional 187 shares in the last quarter. Intech Investment Management LLC acquired a new position in Shake Shack in the 2nd quarter worth $622,000. Finally, Hsbc Holdings PLC boosted its position in Shake Shack by 303.3% in the 2nd quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock valued at $1,460,000 after buying an additional 12,487 shares during the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SHAK has been the topic of several recent analyst reports. Capital One Financial began coverage on Shake Shack in a research note on Monday, July 29th. They issued an “overweight” rating and a $95.00 price target on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $115.00 target price on shares of Shake Shack in a research note on Wednesday, August 28th. The Goldman Sachs Group lifted their price target on shares of Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Wedbush reiterated a “neutral” rating and set a $90.00 price objective on shares of Shake Shack in a research note on Thursday, August 1st. Finally, TD Cowen reissued a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $107.39.

Insider Transactions at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $98.57, for a total transaction of $31,640.97. Following the transaction, the chief financial officer now directly owns 36,822 shares of the company’s stock, valued at $3,629,544.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $98.57, for a total transaction of $31,640.97. Following the transaction, the chief financial officer now owns 36,822 shares in the company, valued at $3,629,544.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $110.24, for a total value of $1,102,400.00. Following the sale, the director now directly owns 470,437 shares in the company, valued at approximately $51,860,974.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,313 shares of company stock valued at $1,322,180. 9.73% of the stock is currently owned by corporate insiders.

Shake Shack Trading Down 1.4 %

Shares of NYSE:SHAK opened at $103.21 on Tuesday. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $99.69 and its 200 day moving average price is $97.50. The company has a market cap of $4.38 billion, a PE ratio of 187.66, a P/E/G ratio of 3.13 and a beta of 1.83. Shake Shack Inc. has a fifty-two week low of $52.79 and a fifty-two week high of $111.29.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The company had revenue of $316.50 million for the quarter, compared to analysts’ expectations of $314.37 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. Sell-side analysts anticipate that Shake Shack Inc. will post 0.73 earnings per share for the current year.

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.