Van Berkom & Associates Inc. Has $65.69 Million Stock Holdings in Shake Shack Inc. (NYSE:SHAK)

Van Berkom & Associates Inc. trimmed its holdings in shares of Shake Shack Inc. (NYSE:SHAK) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 729,834 shares of the company’s stock after selling 16,999 shares during the period. Van Berkom & Associates Inc. owned approximately 1.72% of Shake Shack worth $65,685,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Quest Partners LLC acquired a new stake in shares of Shake Shack during the second quarter worth approximately $38,000. Arizona State Retirement System grew its holdings in shares of Shake Shack by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock valued at $945,000 after acquiring an additional 196 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Shake Shack by 6.1% in the second quarter. TD Asset Management Inc now owns 21,000 shares of the company’s stock worth $1,890,000 after acquiring an additional 1,200 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Shake Shack by 2.3% during the second quarter. Larson Financial Group LLC now owns 37,946 shares of the company’s stock worth $3,415,000 after acquiring an additional 866 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Shake Shack by 1.5% during the second quarter. Rhumbline Advisers now owns 106,272 shares of the company’s stock valued at $9,564,000 after purchasing an additional 1,523 shares during the last quarter. 86.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Morgan Stanley cut their price target on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $115.00 target price on shares of Shake Shack in a research report on Wednesday, August 28th. JPMorgan Chase & Co. upped their price target on Shake Shack from $102.00 to $105.00 and gave the stock an “underweight” rating in a research note on Monday, June 3rd. Capital One Financial began coverage on Shake Shack in a research note on Monday, July 29th. They issued an “overweight” rating and a $95.00 price objective on the stock. Finally, Bank of America increased their price target on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $106.37.

Insider Transactions at Shake Shack

In other news, Director Jeffrey Flug sold 304 shares of the company’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 owns 3,347 shares of the company’s stock, valued at $302,535.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 3,347 shares of the company’s stock, valued at $302,535.33. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.10, for a total transaction of $30,527.10. Following the completion of the transaction, the chief financial officer now owns 37,143 shares in the company, valued at $3,532,299.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,213 shares of company stock worth $1,311,175. Corporate insiders own 9.73% of the company’s stock.

Shake Shack Price Performance

Shares of SHAK traded up $5.30 during trading hours on Monday, hitting $98.65. The stock had a trading volume of 81,839 shares, compared to its average volume of 937,014. Shake Shack Inc. has a 52 week low of $52.79 and a 52 week high of $111.29. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 169.73, a P/E/G ratio of 2.77 and a beta of 1.83. The company’s fifty day moving average is $94.03 and its two-hundred day moving average is $97.42. 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 (NYSE:SHAK) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The business had revenue of $316.50 million for the quarter, compared to analyst estimates of $314.37 million. During the same period in the prior year, the company earned $0.18 EPS. Shake Shack’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, analysts anticipate that Shake Shack Inc. will post 0.73 EPS for the current 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.