Sound Income Strategies LLC Buys New Shares in Shake Shack Inc. (NYSE:SHAK)

Sound Income Strategies LLC purchased a new stake in Shake Shack Inc. (NYSE:SHAK) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,698 shares of the company’s stock, valued at approximately $153,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SHAK. Madison Asset Management LLC increased its stake in Shake Shack by 52.6% during the fourth quarter. Madison Asset Management LLC now owns 84,062 shares of the company’s stock worth $6,231,000 after acquiring an additional 28,975 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Shake Shack in the 1st quarter valued at approximately $653,000. Lisanti Capital Growth LLC purchased a new position in shares of Shake Shack during the 4th quarter valued at approximately $2,784,000. Janney Montgomery Scott LLC acquired a new stake in shares of Shake Shack during the first quarter worth approximately $853,000. Finally, Jennison Associates LLC acquired a new stake in shares of Shake Shack during the first quarter worth approximately $16,365,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on SHAK shares. BTIG Research lifted their target price on Shake Shack from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. boosted their target price on shares of Shake Shack from $102.00 to $105.00 and gave the company an “underweight” rating in a research note on Monday, June 3rd. The Goldman Sachs Group raised their price target on shares of Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their price objective on shares of Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Capital One Financial began coverage on shares of Shake Shack in a research note on Monday, July 29th. They set an “overweight” rating and a $95.00 price objective on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $104.83.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 963 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $96.03, for a total value of $92,476.89. Following the transaction, the chief financial officer now owns 37,464 shares in the company, valued at $3,597,667.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Shake Shack news, CFO Katherine Irene Fogertey sold 963 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $96.03, for a total value of $92,476.89. Following the completion of the sale, the chief financial officer now directly owns 37,464 shares of the company’s stock, valued at $3,597,667.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $90.39, for a total transaction of $27,478.56. Following the transaction, the director now owns 3,347 shares in the company, valued at approximately $302,535.33. The disclosure for this sale can be found here. Insiders sold 1,892 shares of company stock valued at $177,134 in the last quarter. Company insiders own 9.73% of the company’s stock.

Shake Shack Trading Up 1.1 %

NYSE SHAK traded up $1.07 on Friday, hitting $102.39. 773,636 shares of the company were exchanged, compared to its average volume of 953,107. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.06 and a quick ratio of 2.03. Shake Shack Inc. has a twelve month low of $52.79 and a twelve month high of $111.29. The firm has a market capitalization of $4.33 billion, a P/E ratio of 186.17, a price-to-earnings-growth ratio of 3.02 and a beta of 1.75. The company’s 50 day moving average price is $89.20 and its 200-day moving average price is $94.30.

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

About Shake Shack

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.