Shake Shack Inc. (NYSE:SHAK) Director Daniel Harris Meyer Sells 10,000 Shares

Shake Shack Inc. (NYSE:SHAK) Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $110.08, for a total transaction of $1,100,800.00. Following the completion of the sale, the director now owns 460,337 shares of the company’s stock, valued at $50,673,896.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Daniel Harris Meyer also recently made the following trade(s):

• On Thursday, September 26th, Daniel Harris Meyer sold 100 shares of Shake Shack stock. The shares were sold at an average price of $110.05, for a total transaction of $11,005.00.
• On Thursday, August 15th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The stock was sold at an average price of $110.24, for a total transaction of $1,102,400.00.

Shake Shack Stock Up 0.2 %

Shares of Shake Shack stock opened at $108.47 on Wednesday. Shake Shack Inc. has a 52-week low of $52.79 and a 52-week high of $111.29. The company has a 50 day moving average of $102.61 and a 200 day moving average of $97.48. 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 has a market capitalization of $4.59 billion, a P/E ratio of 197.22, a P/E/G ratio of 3.14 and a beta of 1.83.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.27. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The company had revenue of $316.50 million during the quarter, compared to the consensus estimate of $314.37 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, research analysts forecast that Shake Shack Inc. will post 0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SHAK shares. Truist Financial restated a “buy” rating and set a $127.00 price objective on shares of Shake Shack in a research report on Wednesday, August 28th. Barclays raised their price objective on shares of Shake Shack from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. TD Cowen restated a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a research report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $115.00 price target on shares of Shake Shack in a research report on Wednesday, August 28th. Finally, Morgan Stanley dropped their price target on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Shake Shack presently has an average rating of “Hold” and an average target price of $107.39.

Institutional Trading of Shake Shack

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHAK. Allspring Global Investments Holdings LLC acquired a new stake in Shake Shack during the first quarter worth approximately $25,000. Quest Partners LLC acquired a new position in shares of Shake Shack in the 2nd quarter valued at $38,000. Kimelman & Baird LLC acquired a new position in shares of Shake Shack in the 2nd quarter valued at $45,000. Covestor Ltd increased its holdings in shares of Shake Shack by 32,150.0% in the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock valued at $67,000 after acquiring an additional 643 shares during the period. Finally, CWM LLC increased its stake in Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after buying an additional 207 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

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.