Markel Corp raised its position in shares of Shake Shack Inc (NYSE:SHAK) by 6.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,100 shares of the company’s stock after buying an additional 2,000 shares during the period. Markel Corp owned about 0.08% of Shake Shack worth $1,960,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of Shake Shack by 15.2% in the 2nd quarter. BlackRock Inc. now owns 2,914,696 shares of the company’s stock worth $192,895,000 after acquiring an additional 384,867 shares in the last quarter. Renaissance Technologies LLC increased its stake in Shake Shack by 122.4% during the 2nd quarter. Renaissance Technologies LLC now owns 553,200 shares of the company’s stock valued at $36,611,000 after purchasing an additional 304,500 shares in the last quarter. Morgan Stanley increased its stake in Shake Shack by 5.3% during the 2nd quarter. Morgan Stanley now owns 4,130,314 shares of the company’s stock valued at $273,344,000 after purchasing an additional 207,141 shares in the last quarter. Wells Fargo & Company MN increased its stake in Shake Shack by 576.2% during the 3rd quarter. Wells Fargo & Company MN now owns 235,646 shares of the company’s stock valued at $14,848,000 after purchasing an additional 200,799 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Shake Shack during the 2nd quarter valued at about $11,538,000. 87.50% of the stock is owned by institutional investors and hedge funds.
SHAK opened at $47.19 on Monday. The company has a market capitalization of $1.75 billion, a P/E ratio of 82.79, a price-to-earnings-growth ratio of 3.27 and a beta of 1.36. Shake Shack Inc has a 12-month low of $35.56 and a 12-month high of $70.12.
Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, November 1st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The company had revenue of $119.65 million for the quarter, compared to the consensus estimate of $116.81 million. Shake Shack had a net margin of 0.40% and a return on equity of 11.02%. The firm’s revenue was up 26.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share. As a group, analysts expect that Shake Shack Inc will post 0.64 EPS for the current year.
In other Shake Shack news, major shareholder Equity Group L.P. Select sold 69,537 shares of Shake Shack stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $58.25, for a total transaction of $4,050,530.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jonathan D. Sokoloff sold 200,000 shares of Shake Shack stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $59.60, for a total transaction of $11,920,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,284,560 shares of company stock worth $74,700,300. 30.18% of the stock is currently owned by insiders.
SHAK has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on shares of Shake Shack in a research note on Tuesday, October 9th. They set a “hold” rating and a $65.00 price objective for the company. Zacks Investment Research upgraded shares of Shake Shack from a “sell” rating to a “hold” rating in a research note on Tuesday, July 17th. Barclays lifted their price target on shares of Shake Shack from $52.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Monday, August 6th. Cowen reiterated a “hold” rating and issued a $59.00 price target on shares of Shake Shack in a research note on Wednesday, July 25th. Finally, Morgan Stanley lifted their price target on shares of Shake Shack from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $53.90.
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, 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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