Lord Abbett & CO. LLC Trims Stake in Shake Shack Inc (SHAK)

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Lord Abbett & CO. LLC reduced its position in Shake Shack Inc (NYSE:SHAK) by 4.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 874,895 shares of the company’s stock after selling 36,697 shares during the period. Lord Abbett & CO. LLC’s holdings in Shake Shack were worth $39,738,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Shake Shack by 30.4% during the 3rd quarter. BlackRock Inc. now owns 3,800,912 shares of the company’s stock worth $239,495,000 after buying an additional 886,216 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Shake Shack by 28.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,878,119 shares of the company’s stock worth $181,350,000 after buying an additional 638,875 shares in the last quarter. Vanguard Group Inc raised its stake in shares of Shake Shack by 28.5% during the 3rd quarter. Vanguard Group Inc now owns 2,878,119 shares of the company’s stock worth $181,350,000 after buying an additional 638,875 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Shake Shack by 48.0% during the 3rd quarter. Renaissance Technologies LLC now owns 818,566 shares of the company’s stock worth $51,578,000 after buying an additional 265,366 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of Shake Shack by 15.0% during the 3rd quarter. Macquarie Group Ltd. now owns 621,204 shares of the company’s stock worth $39,142,000 after buying an additional 81,186 shares in the last quarter. 83.39% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on SHAK shares. Jefferies Financial Group raised Shake Shack from an “underperform” rating to a “hold” rating and set a $45.08 target price for the company in a research note on Wednesday, December 19th. They noted that the move was a valuation call. Stifel Nicolaus cut their target price on Shake Shack from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, December 12th. Wedbush lowered their price target on Shake Shack from $56.00 to $54.00 and set a “neutral” rating on the stock in a report on Tuesday, February 26th. Finally, Zacks Investment Research cut Shake Shack from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Shake Shack currently has a consensus rating of “Hold” and an average price target of $54.21.

SHAK opened at $54.77 on Friday. The company has a market capitalization of $1.97 billion, a P/E ratio of 77.14, a PEG ratio of 3.80 and a beta of 1.44. Shake Shack Inc has a 1-year low of $39.77 and a 1-year high of $70.12.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Monday, February 25th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $124.30 million for the quarter, compared to analysts’ expectations of $119.08 million. Shake Shack had a return on equity of 9.57% and a net margin of 3.30%. The company’s revenue was up 29.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 EPS. Analysts expect that Shake Shack Inc will post 0.62 earnings per share for the current year.

In other Shake Shack news, COO Zach Koff sold 10,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $54.25, for a total transaction of $542,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jonathan D. Sokoloff sold 185,847 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $53.10, for a total value of $9,868,475.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 455,606 shares of company stock worth $23,871,286. Insiders own 30.18% of the company’s stock.

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About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of October 9, 2018, it operated 180 locations in 26 U.S.

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Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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