Garde Capital Inc. Acquires New Shares in Shake Shack, Inc. (NYSE:SHAK)

Garde Capital Inc. acquired a new stake in shares of Shake Shack, Inc. (NYSE:SHAK) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 400 shares of the company’s stock, valued at approximately $35,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Shake Shack by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company’s stock valued at $574,497,000 after purchasing an additional 49,883 shares during the period. Invesco Ltd. boosted its position in Shake Shack by 30.7% during the 4th quarter. Invesco Ltd. now owns 1,245,093 shares of the company’s stock valued at $161,613,000 after purchasing an additional 292,348 shares during the period. Balyasny Asset Management L.P. boosted its position in Shake Shack by 17.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company’s stock valued at $116,078,000 after purchasing an additional 134,475 shares during the period. Dimensional Fund Advisors LP boosted its position in Shake Shack by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 760,595 shares of the company’s stock valued at $98,726,000 after purchasing an additional 19,320 shares during the period. Finally, Wasatch Advisors LP boosted its position in Shake Shack by 1.8% during the 4th quarter. Wasatch Advisors LP now owns 566,425 shares of the company’s stock valued at $73,522,000 after purchasing an additional 10,147 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

Insider Activity

In other news, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $130.10, for a total transaction of $1,301,000.00. Following the completion of the sale, the director now directly owns 396,636 shares of the company’s stock, valued at $51,602,343.60. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Katherine Irene Fogertey sold 3,956 shares of the company’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $127.49, for a total value of $504,350.44. Following the sale, the chief financial officer now directly owns 35,750 shares of the company’s stock, valued at approximately $4,557,767.50. This represents a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,698 shares of company stock valued at $4,499,820 over the last three months. Insiders own 9.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Shake Shack from $95.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, May 30th. Robert W. Baird boosted their price target on Shake Shack from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Raymond James Financial reiterated a “strong-buy” rating and set a $140.00 price target (down previously from $145.00) on shares of Shake Shack in a research report on Friday, May 2nd. Oppenheimer reduced their price target on Shake Shack from $155.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, Truist Financial boosted their price target on Shake Shack from $134.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Shake Shack presently has an average rating of “Hold” and an average target price of $115.40.

Shake Shack Trading Up 3.4%

Shares of Shake Shack stock opened at $132.95 on Monday. The company has a quick ratio of 1.88, a current ratio of 1.91 and a debt-to-equity ratio of 0.50. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 474.81, a price-to-earnings-growth ratio of 3.15 and a beta of 1.77. The business has a fifty day simple moving average of $110.12 and a 200-day simple moving average of $110.47. Shake Shack, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $139.89.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). The firm had revenue of $320.90 million during the quarter, compared to analyst estimates of $330.24 million. Shake Shack had a net margin of 0.97% and a return on equity of 8.45%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. On average, equities analysts forecast that Shake Shack, Inc. will post 1.26 EPS for the current fiscal year.

Shake Shack Company Profile

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.