Sylebra HK Co Ltd grew its holdings in Shake Shack, Inc. (NYSE:SHAK) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,001,849 shares of the company’s stock after acquiring an additional 25,546 shares during the period. Shake Shack accounts for approximately 2.9% of Sylebra HK Co Ltd’s holdings, making the stock its 9th largest position. Sylebra HK Co Ltd owned about 2.73% of Shake Shack worth $33,291,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Shake Shack during the 1st quarter worth $137,000. US Bancorp DE boosted its holdings in shares of Shake Shack by 34.1% during the 2nd quarter. US Bancorp DE now owns 4,111 shares of the company’s stock worth $143,000 after buying an additional 1,046 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Shake Shack by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,371 shares of the company’s stock worth $152,000 after buying an additional 656 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Shake Shack by 6.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,380 shares of the company’s stock worth $153,000 after buying an additional 280 shares during the period. Finally, Pacad Investment Ltd. boosted its holdings in shares of Shake Shack by 1,225.0% during the 2nd quarter. Pacad Investment Ltd. now owns 5,300 shares of the company’s stock worth $185,000 after buying an additional 4,900 shares during the period. 83.51% of the stock is owned by institutional investors.
SHAK has been the subject of several recent analyst reports. BidaskClub raised shares of Shake Shack from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Morgan Stanley upgraded shares of Shake Shack from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $43.04 to $34.00 in a research note on Thursday. Barclays upped their target price on shares of Shake Shack from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Cowen reiterated a “hold” rating and set a $35.00 target price on shares of Shake Shack in a research note on Tuesday, September 12th. Finally, Wedbush reiterated a “hold” rating and set a $36.00 target price on shares of Shake Shack in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $37.33.
Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, November 1st. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Shake Shack had a net margin of 4.78% and a return on equity of 9.42%. The firm had revenue of $94.60 million during the quarter, compared to analysts’ expectations of $94.17 million. During the same period in the prior year, the company earned $0.15 EPS. The business’s quarterly revenue was up 26.8% compared to the same quarter last year. equities research analysts anticipate that Shake Shack, Inc. will post 0.52 earnings per share for the current fiscal year.
In other news, CEO Randall J. Garutti sold 8,000 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $35.62, for a total value of $284,960.00. Following the completion of the transaction, the chief executive officer now owns 18,961 shares in the company, valued at approximately $675,390.82. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Zach Koff sold 5,000 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $37.00, for a total transaction of $185,000.00. Following the completion of the transaction, the chief operating officer now owns 8,978 shares of the company’s stock, valued at approximately $332,186. The disclosure for this sale can be found here. In the last 90 days, insiders sold 748,566 shares of company stock valued at $29,047,300. Corporate insiders own 34.91% of the company’s stock.
About Shake Shack
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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