Shake Shack Inc (SHAK) Shares Bought by Morgan Stanley

Morgan Stanley lifted its stake in shares of Shake Shack Inc (NYSE:SHAK) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,130,314 shares of the company’s stock after purchasing an additional 207,141 shares during the period. Morgan Stanley owned about 11.15% of Shake Shack worth $273,344,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its holdings in Shake Shack by 15.6% in the second quarter. Commonwealth Equity Services LLC now owns 7,283 shares of the company’s stock worth $482,000 after acquiring an additional 981 shares during the last quarter. Comerica Bank grew its position in Shake Shack by 5.5% in the first quarter. Comerica Bank now owns 21,052 shares of the company’s stock worth $908,000 after buying an additional 1,095 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Shake Shack by 13.4% in the first quarter. Thrivent Financial for Lutherans now owns 12,766 shares of the company’s stock worth $531,000 after buying an additional 1,504 shares during the last quarter. Legal & General Group Plc grew its position in Shake Shack by 4.6% in the first quarter. Legal & General Group Plc now owns 35,930 shares of the company’s stock worth $1,485,000 after buying an additional 1,589 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Shake Shack by 5.5% in the first quarter. Prudential Financial Inc. now owns 31,860 shares of the company’s stock worth $1,326,000 after buying an additional 1,650 shares during the last quarter. 87.45% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have issued reports on the stock. Longbow Research lowered shares of Shake Shack from a “buy” rating to a “neutral” rating and set a $57.96 price target on the stock. in a research report on Wednesday, May 23rd. They noted that the move was a valuation call. 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 report on Monday, August 6th. Zacks Investment Research upgraded shares of Shake Shack from a “sell” rating to a “hold” rating in a research report on Tuesday, July 17th. 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 report on Monday, July 16th. Finally, Wedbush reiterated a “hold” rating and set a $62.00 price objective on shares of Shake Shack in a research report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.00.

In other Shake Shack news, major shareholder Equity Group L.P. Select sold 118,645 shares of Shake Shack stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $65.23, for a total transaction of $7,739,213.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Randall J. Garutti sold 30,000 shares of Shake Shack stock in a transaction on Tuesday, June 26th. The shares were sold at an average price of $67.51, for a total transaction of $2,025,300.00. Following the sale, the chief executive officer now directly owns 48,041 shares of the company’s stock, valued at approximately $3,243,247.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,508,790 shares of company stock worth $90,815,295. Corporate insiders own 30.18% of the company’s stock.

NYSE SHAK opened at $57.20 on Friday. Shake Shack Inc has a twelve month low of $31.09 and a twelve month high of $70.12. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 83.32, a PEG ratio of 4.19 and a beta of 1.21.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.11. Shake Shack had a net margin of 0.42% and a return on equity of 10.39%. The firm had revenue of $116.30 million for the quarter, compared to analysts’ expectations of $110.70 million. During the same period in the previous year, the company posted $0.20 EPS. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. equities analysts anticipate that Shake Shack Inc will post 0.61 earnings per share for the current year.

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

Further Reading: Asset Allocation and Your Retirement

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

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