Shake Shack (NYSE:SHAK) Shares Down 3% – Here’s What Happened

Shake Shack Inc. (NYSE:SHAK) dropped 3% during trading on Friday . The company traded as low as $106.50 and last traded at $106.57. Approximately 564,400 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 923,020 shares. The stock had previously closed at $109.90.

Analysts Set New Price Targets

SHAK has been the topic of a number of research reports. Barclays boosted their target price on shares of Shake Shack from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Wedbush restated a “neutral” rating and set a $90.00 price target on shares of Shake Shack in a report on Thursday, August 1st. Capital One Financial assumed coverage on shares of Shake Shack in a report on Monday, July 29th. They set an “overweight” rating and a $95.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Piper Sandler lowered shares of Shake Shack from an “overweight” rating to a “neutral” rating and cut their price target for the company from $121.00 to $114.00 in a report on Monday, August 19th. Two investment 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $107.39.

Shake Shack Trading Down 1.9 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.06. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 177.26, a price-to-earnings-growth ratio of 3.24 and a beta of 1.83. The company’s 50 day simple moving average is $103.17 and its two-hundred day simple moving average is $97.64.

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

Insiders Place Their Bets

In related news, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction on 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 directly owns 460,337 shares of the company’s stock, valued at approximately $50,673,896.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction on 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 directly owns 460,337 shares of the company’s stock, valued at approximately $50,673,896.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $90.39, for a total transaction of $27,478.56. Following the sale, the director now directly owns 3,347 shares of the company’s stock, valued at approximately $302,535.33. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,482 shares of company stock valued at $2,443,382 over the last ninety days. Corporate insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Shake Shack during the 1st quarter worth about $25,000. Quest Partners LLC acquired a new stake in shares of Shake Shack during the 2nd quarter worth about $38,000. Kimelman & Baird LLC acquired a new stake in shares of Shake Shack during the 2nd quarter worth about $45,000. Covestor Ltd increased its position in shares of Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after purchasing an additional 643 shares in the last quarter. Finally, CWM LLC increased its position in shares of Shake Shack by 24.7% during the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after purchasing an additional 207 shares in the last quarter. 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.