Shares of Shake Shack, Inc. (NYSE:SHAK – Get Free Report) have earned an average recommendation of “Hold” from the twenty-seven analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $89.3913.
A number of research firms have issued reports on SHAK. JPMorgan Chase & Co. decreased their price objective on shares of Shake Shack from $100.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. BTIG Research reissued a “neutral” rating on shares of Shake Shack in a research note on Wednesday, May 20th. Oppenheimer set a $82.00 target price on Shake Shack and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Wells Fargo & Company lowered their price target on Shake Shack from $80.00 to $65.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 3rd. Finally, Raymond James Financial lowered Shake Shack from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $125.00 to $85.00 in a research report on Wednesday, June 3rd.
Check Out Our Latest Research Report on SHAK
Shake Shack Trading Up 2.0%
Insider Buying and Selling
In other news, Director Daniel Harris Meyer acquired 32,258 shares of the stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $61.88 per share, with a total value of $1,996,125.04. Following the completion of the transaction, the director owned 378,670 shares of the company’s stock, valued at $23,432,099.60. This represents a 9.31% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey Flug bought 1,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of $61.30 per share, for a total transaction of $61,300.00. Following the acquisition, the director owned 5,470 shares in the company, valued at approximately $335,311. This represents a 22.37% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 50,616 shares of company stock valued at $3,109,782 over the last quarter. 8.32% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Shake Shack
Institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Shake Shack by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,627 shares of the company’s stock worth $1,995,000 after buying an additional 976 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Shake Shack by 4,210.3% during the first quarter. Jones Financial Companies Lllp now owns 2,500 shares of the company’s stock valued at $220,000 after buying an additional 2,442 shares during the last quarter. United Services Automobile Association purchased a new stake in shares of Shake Shack during the first quarter valued at approximately $219,000. Geneos Wealth Management Inc. bought a new stake in shares of Shake Shack during the first quarter valued at approximately $26,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Shake Shack by 159.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 748 shares of the company’s stock valued at $105,000 after acquiring an additional 460 shares in the last quarter. 86.07% of the stock is owned by hedge funds and other institutional investors.
About Shake Shack
Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.
Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.
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