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Shake Shack's director now holds 407,646 shares valued at approximately $49.6 million after a 6.85% ownership decrease. Insiders sold 53,333 shares worth $6.57 million last quarter, while institutional investors own 86.07% of the stock. UBS Group raised its price target for Shake Shack from $130 to $140, indicating a potential 6% upside.
Shake Shack Inc. reported quarterly sales that exceeded Wall Street expectations, driven by a new workforce model that boosted labor productivity to its highest level since 2019. Same-store sales rose 4.4% for the three months ending September 25, surpassing analyst estimates of 3.6% and significantly improving from 2.3% growth in the same period last year.
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