Peggy Rubenzer Sells 7,000 Shares of Shake Shack, Inc. (SHAK) Stock
Shake Shack, Inc. (NYSE:SHAK) SVP Peggy Rubenzer sold 7,000 shares of Shake Shack stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $32.17, for a total transaction of $225,190.00. Following the transaction, the senior vice president now directly owns 24,415 shares in the company, valued at $785,430.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shake Shack, Inc. (NYSE:SHAK) traded down 3.76% on Tuesday, reaching $31.26. 886,479 shares of the company’s stock were exchanged. The company has a market capitalization of $812.17 million, a P/E ratio of 54.46 and a beta of 1.29. The firm has a 50-day moving average price of $34.15 and a 200-day moving average price of $34.85. Shake Shack, Inc. has a 1-year low of $30.36 and a 1-year high of $39.70.
Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, August 3rd. The company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.04. Shake Shack had a net margin of 4.70% and a return on equity of 8.71%. The company had revenue of $91.30 million during the quarter, compared to analysts’ expectations of $89 million. During the same quarter last year, the business earned $0.14 EPS. The business’s revenue was up 37.3% on a year-over-year basis. Equities research analysts expect that Shake Shack, Inc. will post $0.52 earnings per share for the current year.
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Several hedge funds have recently added to or reduced their stakes in the company. Comerica Bank purchased a new stake in Shake Shack during the first quarter valued at approximately $712,000. BNP Paribas Arbitrage SA boosted 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. Bank of New York Mellon Corp boosted its stake in Shake Shack by 140.6% in the first quarter. Bank of New York Mellon Corp now owns 193,171 shares of the company’s stock valued at $6,451,000 after buying an additional 112,899 shares during the period. Great West Life Assurance Co. Can boosted its stake in Shake Shack by 1,259.6% in the first quarter. Great West Life Assurance Co. Can now owns 25,833 shares of the company’s stock valued at $862,000 after buying an additional 23,933 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Shake Shack by 16.6% in the first quarter. Russell Investments Group Ltd. now owns 7,429 shares of the company’s stock valued at $248,000 after buying an additional 1,057 shares during the period. Institutional investors own 97.46% of the company’s stock.
SHAK has been the topic of several research reports. SunTrust Banks, Inc. set a $48.00 price objective on shares of Shake Shack and gave the company a “buy” rating in a report on Tuesday, June 27th. Wedbush restated an “outperform” rating and issued a $40.00 target price (down from $43.00) on shares of Shake Shack in a research note on Sunday, July 30th. Vetr upgraded shares of Shake Shack from a “buy” rating to a “strong-buy” rating and set a $42.33 target price for the company in a research note on Tuesday, June 20th. Zacks Investment Research downgraded shares of Shake Shack from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Piper Jaffray Companies initiated coverage on shares of Shake Shack in a research note on Wednesday, May 24th. They issued an “overweight” rating and a $44.00 target price for the company. Three investment 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 stock currently has an average rating of “Hold” and an average target price of $37.60.
Shake Shack Company Profile
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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