Mirae Asset Global Investments Co. Ltd. grew its position in Shake Shack Inc. (NYSE:SHAK – Get Rating) by 12.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,749 shares of the company's stock after buying an additional 5,329 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Shake Shack were worth $3,310,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Shake Shack by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 4,071,207 shares of the company's stock valued at $276,435,000 after buying an additional 48,614 shares in the last quarter. State Street Corp boosted its stake in Shake Shack by 3.5% in the 1st quarter. State Street Corp now owns 1,267,146 shares of the company's stock worth $86,039,000 after purchasing an additional 43,087 shares in the last quarter. Van Berkom & Associates Inc. boosted its stake in Shake Shack by 5.4% in the 1st quarter. Van Berkom & Associates Inc. now owns 728,850 shares of the company's stock worth $49,489,000 after purchasing an additional 37,482 shares in the last quarter. Royal Bank of Canada boosted its stake in Shake Shack by 4.4% in the 1st quarter. Royal Bank of Canada now owns 368,613 shares of the company's stock worth $25,027,000 after purchasing an additional 15,473 shares in the last quarter. Finally, Pertento Partners LLP boosted its stake in Shake Shack by 49.5% in the 1st quarter. Pertento Partners LLP now owns 284,386 shares of the company's stock worth $19,310,000 after purchasing an additional 94,176 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Daniel Harris Meyer purchased 21,000 shares of the business's stock in a transaction that occurred on Monday, July 11th. The stock was bought at an average price of $39.58 per share, with a total value of $831,180.00. Following the acquisition, the director now owns 576,364 shares in the company, valued at $22,812,487.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Daniel Harris Meyer purchased 21,000 shares of the business's stock in a transaction that occurred on Monday, July 11th. The stock was bought at an average price of $39.58 per share, with a total value of $831,180.00. Following the acquisition, the director now owns 576,364 shares in the company, valued at $22,812,487.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Zach Koff sold 5,000 shares of the business's stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the completion of the sale, the chief operating officer now directly owns 31,085 shares of the company's stock, valued at approximately $1,398,825. The disclosure for this sale can be found here. 9.98% of the stock is owned by insiders.

Shake Shack Price Performance

Analysts Set New Price Targets

A number of research firms recently commented on SHAK. Credit Suisse Group lowered their target price on shares of Shake Shack from $72.00 to $61.00 and set a "neutral" rating for the company in a research note on Monday, August 8th. Oppenheimer lowered their target price on shares of Shake Shack from $75.00 to $69.00 and set an "outperform" rating for the company in a research note on Monday, August 8th. Barclays reduced their price target on shares of Shake Shack to $44.00 in a research report on Tuesday, August 9th. Gordon Haskett began coverage on shares of Shake Shack in a research report on Tuesday, July 19th. They set a "hold" rating and a $50.00 price target for the company. Finally, Truist Financial reduced their price target on shares of Shake Shack from $86.00 to $67.00 and set a "buy" rating for the company in a research report on Friday, July 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $66.39.

Shake Shack Company Profile

(Get Rating)

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 29, 2021, it operated 369 Shacks, including 218 domestic company-operated Shacks, 25 domestic licensed Shacks, and 126 international licensed Shacks.

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