Shake Shack (SHAK)
Operates burger-and-shake restaurants and licenses the brand across international and nontraditional venues.
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Operates and develops U.S. fast-casual restaurants serving burgers, chicken, fries, shakes, frozen custard and beverages, while licensing the brand internationally and in nontraditional venues. Most revenue comes from company-operated Shack sales; licensed partners contribute percentage-based licensing revenue and fees rather than their full restaurant sales.
Operates fast-casual restaurants serving made-to-order Angus beef burgers, crispy chicken, crinkle-cut fries, shakes, frozen custard, lemonade, beer and wine. Company-operated Shacks generate restaurant sales across a growing U.S. footprint, while licensed partners extend the network abroad and through airports, travel plazas and entertainment venues.
Builds the brand around premium ingredients, hospitality, locally tailored restaurant design, culinary launches and digital ordering. Growth execution combines urban stores, suburban drive-thrus, small formats and flagships, supported by site selection, standardized construction, labor scheduling, supply-chain controls and food-safety systems.
Restaurant economics depend on guest traffic, menu pricing, labor and commodity costs, successful site development and consistent licensee execution. U.S. distribution is concentrated with a single broadline distributor, and operations are subject to food-safety, employment, labeling, licensing, zoning and other restaurant regulations.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 15, 2026 | Seaport Global | Initiate | Rating: — | |
| Sep 8, 2026 | RBC Capital | Initiate | Rating: —Target: — | Target: $89 |
| Aug 6, 2026 | Morgan Stanley | Target | Target: $76 | Target: $74 |
| Aug 6, 2026 | Mizuho Securities | Target | Target: $80 | Target: $90 |
| Aug 5, 2026 | Robert W. Baird | Target | Target: $60 | Target: $72 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jul 1, 2026Cash & short-term investments $308.0M · Total debt $263.2M · Total assets $1.95B · Shareholders' equity $544.3M
- Revenue
- $417.6M
- Operating income
- $20.7M
- Net income
- $15.7M
No dividends on record.
| Institutions | ≈ 90.15% | 36.38M shares | |
|---|---|---|---|
| 376 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 11.52% | 4.65M shares | |
| 15 holders · as of Jul 17, 2026 | |||
| Strategic holders | 10.12% | 4.08M shares | |
| 2 holders · as of Mar 4, 2026 | |||
| Adds to | 111.79% | ||
40.35M company shares as of Sep 18, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 111.79%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 15.31% | 6.18M | as of Jun 30, 2026 |
Alger Associates, Inc.Strategic | 10.11% | 4.08M | filed May 10, 2022 |
Daniel Harris Meyer1Insiderdirector, 10 percent owner | 8.45% | 5.71M · 386,462 | filed Sep 9, 2019 |
Gagnon, Howe & Co. LLCInstitution | 6.57% | 2.65M | filed Feb 14, 2022 |
Vanguard Portfolio Management LLCInstitution | 5.95% | 2.40M | as of Jun 30, 2026 |
- Daniel Harris Meyer's transaction reports restate only vehicles that traded; the 2017 ownership statement (5.71M) less the 2.69M net shares sold since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 15, 2026 | Daniel Harris Meyer | director, 10 percent owner: | +32,258 | $61.88 |
| May 15, 2026 | Robert Lynch | director, officer: Chief Executive Officer | +5,000 | $60.39 |
| May 15, 2026 | Sumaiya Balbale | director | +4,068 | $61.42 |
| May 15, 2026 | Charles J. III Chapman | director | +2,000 | $61.36 |
| May 15, 2026 | Jeffrey Flug | director, 10 percent owner: | +1,000 | $61.30 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Shake Shack | $57.80 | +1.47% | $2.30B | 60.4 | 46.9 | 1.5 | +17.2% |
| McDonald's | $250.94 | +1.23% | $176.12B | 20.1 | 18.9 | 6.4 | +3.7% |
| Restaurant Brands International | $71.85 | −0.98% | $25.17B | 21.4 | 16.9 | 2.6 | +4.6% |
| Wendy's | $6.82 | +1.72% | $1.28B | 10.2 | 13.9 | 0.6 | +1.7% |
| Chipotle Mexican Grill | $32.95 | −0.57% | $42.48B | 30.4 | 26.0 | 3.4 | +9.3% |
| CAVA | $52.89 | +1.71% | $6.06B | 94.3 | 86.0 | 4.4 | +31.3% |
| Wingstop | $103.05 | −3.99% | $2.92B | 25.5 | 21.7 | 4.1 | +6.4% |
| Median | 23.4 | 20.3 | 3.7 | +5.5% |