Shake Shack CEO Randy Garutti Announces Retirement in 2024, Company Continues Expansion\n\nShake Shack CEO Randy Garutti has announced his retirement for next year, after more than 20 years with the company. The burger and milkshake chain has seen significant growth and momentum under Garutti’s leadership, with plans to open 40 new locations in 2023. Garutti will remain with the company as an advisor until 2024 to assist with the transition to a new CEO.\n\nGarutti’s retirement comes as Shake Shack continues to expand, with over 500 locations in 18 countries and 33 states. The company is expected to surpass $1 billion in revenue this year, with double-digit growth for the past 10 years. Analysts have also upgraded the company, citing potential for increased profit margins and traffic.\n\nThe company’s board has already begun an external search for a new CEO, with the help of Korn Ferry. The transition is not expected to have a significant impact on the company’s financial performance, as they have reaffirmed their guidance for the fourth quarter and fiscal year 2023.\n\nInvestors have responded positively to the news, with shares jumping nearly 10% on Monday. Garutti’s retirement does not come as a surprise, as he has been with the company since its early days as a hot dog cart in 2001. Shake Shack founder Danny Meyer praised Garutti’s contributions, stating that he has more than earned the richly-deserved opportunity to think about his next act.\n\nIn a statement, Garutti expressed his gratitude for his time with Shake Shack and his excitement for the company’s future. He plans to spend more time with his family upon retirement. \n\n Shake Shack CEO Randy Garutti’s retirement marks the end of an era for the company, but also signals its continued success and growth.

ClearBridge Investments Releases Third-Quarter 2023 Investor Letter\n\nClearBridge Investments, an investment management firm, recently released its third-quarter 2023 “Mid Cap Strategy” investor letter. The strategy, which can be downloaded from their website, outperformed its benchmark, the Russell Midcap Index, in the quarter. The strategy gained across two of the 11 sectors in which it was invested on an absolute basis, with financials and energy sectors leading the way. The healthcare sector was the only detractor. Stock selection effects contributed favorably to performance on a relative basis.\n\nClearBridge Mid Cap Strategy's Top Picks for 2023\n\nIn addition, the fund's top five holdings were also highlighted in the investor letter. One of the top performers was Casey’s General Stores, Inc. (NASDAQ:CASY), a convenience store headquartered in Ankeny, Iowa. On December 8, 2023, Casey’s General Stores, Inc. stock closed at $268.01 per share. Over the last month, the stock has seen a return of -3.98%, but has gained 9.23% over the last three months. With a market capitalization of $9.988 billion, Casey’s General Stores, Inc. continues to drive growth and improve internal performance through the expansion of its private label offerings. The company has also seen relief from wage pressures on margins due to a cooling labor market.\n\nClearBridge Mid Cap Strategy's View on Casey’s General Stores, Inc. \n\nIn its third-quarter 2023 investor letter, ClearBridge Mid Cap Strategy commented on Casey’s General Stores, Inc. , stating that the company's consumer staples holdings have fared well. The deliberate focus on smaller communities has given the company high market share and pricing power, which are expected to be long-term earnings drivers.\n\nCasey’s General Stores, Inc. Not on List of Most Popular Stocks Among Hedge Funds\n\nCasey’s General Stores, Inc. is not on the list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 27 hedge fund portfolios held Casey’s General Stores, Inc. at the end of the third quarter, which was an increase from 21 in the previous quarter.\n\nCasey’s General Stores, Inc. to Report Second-Quarter Fiscal 2024 Results\n\nCasey’s General Stores, Inc. is set to report its second-quarter fiscal 2024 results on December 11 after the closing bell. The Zacks Consensus Estimate for revenues is pegged at $4,151 million, indicating an increase of 4.3% from the prior-year reported figure. The bottom line is expected to have declined year over year. The company has a trailing four-quarter earnings surprise of 17.5%, on average.\n\nKey Factors to Consider for Casey’s General Stores, Inc. \n\nCasey’s price and product optimization strategies, increased penetration of private brands, and digital engagements have been commendable. The company's curbside pickup option and reward program have also been gaining traction.\n\nIn a ClearBridge Investments' third-quarter 2023 investor letter highlighted the success of its Mid Cap Strategy, which outperformed its benchmark. The fund's top picks for 2023, including Casey’s General Stores, Inc. , have shown strong performance. Casey’s General Stores, Inc. is not on the list of most popular stocks among hedge funds. The company is set to report its second-quarter fiscal 2024 results, with expected growth in revenues but a decline in the bottom line.