Sound Income Strategies LLC Invests $153,000 in Shake Shack Inc. (NYSE:SHAK)

Sound Income Strategies LLC bought a new position in shares of Shake Shack Inc. (NYSE:SHAK) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 1,698 shares of the company’s stock, valued at approximately $153,000.

Other hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Shake Shack by 7.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,606 shares of the company’s stock worth $1,305,000 after purchasing an additional 1,251 shares during the period. RFG Advisory LLC increased its position in shares of Shake Shack by 10.3% in the fourth quarter. RFG Advisory LLC now owns 4,401 shares of the company’s stock worth $326,000 after purchasing an additional 412 shares during the period. RPG Investment Advisory LLC raised its stake in Shake Shack by 1.2% in the fourth quarter. RPG Investment Advisory LLC now owns 121,301 shares of the company’s stock valued at $8,991,000 after purchasing an additional 1,411 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Shake Shack during the fourth quarter worth about $1,393,000. Finally, Vontobel Holding Ltd. acquired a new stake in Shake Shack during the fourth quarter worth about $426,000. 86.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SHAK shares. Bank of America cut their price target on shares of Shake Shack from $116.00 to $96.00 and set a “neutral” rating for the company in a report on Wednesday, July 17th. Capital One Financial began coverage on Shake Shack in a report on Monday, July 29th. They issued an “overweight” rating and a $95.00 target price on the stock. TD Cowen reissued a “buy” rating and set a $125.00 price target on shares of Shake Shack in a report on Thursday, August 1st. Barclays raised their price objective on Shake Shack from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Wedbush reissued a “neutral” rating and set a $90.00 target price on shares of Shake Shack in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $104.83.

Shake Shack Stock 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. Shake Shack Inc. has a 12 month low of $52.79 and a 12 month high of $111.29. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51. The company has a market cap of $4.33 billion, a PE ratio of 186.17, a PEG ratio of 3.02 and a beta of 1.75. The stock has a fifty day moving average of $89.20 and a 200-day moving average of $94.30.

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

Insider Buying and Selling

In related news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $90.39, for a total value of $27,478.56. Following the transaction, the director now owns 3,347 shares of the company’s stock, valued at approximately $302,535.33. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $90.39, for a total transaction of $27,478.56. Following the transaction, the director now directly owns 3,347 shares in the company, valued at approximately $302,535.33. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $95.10, for a total transaction of $30,527.10. Following the completion of the sale, the chief financial officer now owns 37,143 shares of the company’s stock, valued at approximately $3,532,299.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,892 shares of company stock worth $177,134 in the last ninety days. Corporate insiders own 9.73% of the company’s stock.

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.