Hsbc Holdings PLC Reduces Holdings in Shake Shack Inc (SHAK)

Hsbc Holdings PLC cut its position in Shake Shack Inc (NYSE:SHAK) by 24.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,413 shares of the company’s stock after selling 19,984 shares during the quarter. Hsbc Holdings PLC’s holdings in Shake Shack were worth $2,515,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Swiss National Bank grew its stake in Shake Shack by 6.6% during the fourth quarter. Swiss National Bank now owns 35,400 shares of the company’s stock worth $1,529,000 after purchasing an additional 2,200 shares during the period. Maverick Capital Ltd. acquired a new stake in Shake Shack during the fourth quarter worth approximately $7,601,000. OppenheimerFunds Inc. grew its stake in Shake Shack by 39.1% during the fourth quarter. OppenheimerFunds Inc. now owns 1,005,241 shares of the company’s stock worth $43,427,000 after purchasing an additional 282,404 shares during the period. BlackRock Inc. grew its stake in Shake Shack by 3.3% during the fourth quarter. BlackRock Inc. now owns 2,429,663 shares of the company’s stock worth $104,963,000 after purchasing an additional 77,844 shares during the period. Finally, Ellington Management Group LLC grew its stake in Shake Shack by 16.1% during the fourth quarter. Ellington Management Group LLC now owns 46,800 shares of the company’s stock worth $2,022,000 after purchasing an additional 6,500 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

In other news, Director Robert T. Vivian sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $65.00, for a total value of $1,300,000.00. Following the transaction, the director now owns 8,720 shares in the company, valued at $566,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Zach Koff sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $59.00, for a total value of $177,000.00. Following the completion of the transaction, the chief operating officer now owns 9,809 shares in the company, valued at approximately $578,731. The disclosure for this sale can be found here. Insiders sold 955,440 shares of company stock valued at $55,560,796 in the last three months. Insiders own 30.18% of the company’s stock.

Shares of Shake Shack opened at $65.18 on Monday, MarketBeat.com reports. Shake Shack Inc has a 52 week low of $30.12 and a 52 week high of $65.47. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 114.35, a PEG ratio of 5.36 and a beta of 1.36.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, May 3rd. The company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.07. Shake Shack had a positive return on equity of 9.17% and a negative net margin of 0.27%. The firm had revenue of $99.20 million during the quarter, compared to analysts’ expectations of $96.77 million. During the same quarter last year, the firm posted $0.10 earnings per share. The company’s revenue for the quarter was up 29.3% compared to the same quarter last year. equities research analysts expect that Shake Shack Inc will post 0.54 EPS for the current fiscal year.

SHAK has been the subject of several recent analyst reports. Wedbush reaffirmed a “hold” rating and set a $38.00 target price on shares of Shake Shack in a research note on Friday, February 16th. SunTrust Banks set a $54.00 target price on Shake Shack and gave the stock a “buy” rating in a research note on Friday, February 16th. Barclays decreased their target price on Shake Shack from $49.00 to $45.00 and set an “equal weight” rating for the company in a research note on Friday, February 16th. TheStreet cut Shake Shack from a “c” rating to a “d+” rating in a research note on Friday, March 16th. Finally, ValuEngine raised Shake Shack from a “hold” rating to a “buy” rating in a research note on Saturday, April 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and three have issued a strong buy rating to the stock. Shake Shack currently has a consensus rating of “Hold” and a consensus price target of $47.03.

Shake Shack Profile

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 December 27, 2017, it had 159 Shacks, including 90 domestic company-operated Shacks, 10 domestic licensed Shacks, and 59 international licensed Shacks.

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

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