Shake Shack Inc. (NYSE:SHAK) Shares Sold by Arizona State Retirement System

Arizona State Retirement System decreased its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,481 shares of the company’s stock after selling 177 shares during the period. Arizona State Retirement System’s holdings in Shake Shack were worth $777,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHAK. Ramirez Asset Management Inc. acquired a new stake in shares of Shake Shack in the third quarter worth $35,000. Natixis acquired a new stake in shares of Shake Shack in the fourth quarter worth $53,000. Tower Research Capital LLC TRC increased its position in shares of Shake Shack by 67.9% in the first quarter. Tower Research Capital LLC TRC now owns 989 shares of the company’s stock worth $55,000 after acquiring an additional 400 shares in the last quarter. C M Bidwell & Associates Ltd. increased its position in shares of Shake Shack by 122.6% in the third quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock worth $65,000 after acquiring an additional 612 shares in the last quarter. Finally, CWM LLC increased its position in shares of Shake Shack by 37.4% in the third quarter. CWM LLC now owns 1,349 shares of the company’s stock worth $78,000 after acquiring an additional 367 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Trading Down 1.7 %

NYSE SHAK opened at $94.93 on Thursday. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 206.37, a price-to-earnings-growth ratio of 3.63 and a beta of 1.80. Shake Shack Inc. has a 12 month low of $52.64 and a 12 month high of $110.90. The company’s fifty day moving average price is $99.56 and its two-hundred day moving average price is $76.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.04 and a quick ratio of 2.01.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, February 15th. The company reported $0.02 earnings per share for the quarter. The company had revenue of $286.20 million for the quarter, compared to analysts’ expectations of $280.45 million. Shake Shack had a net margin of 1.82% and a return on equity of 3.67%. The firm’s revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) earnings per share. As a group, research analysts predict that Shake Shack Inc. will post 0.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $95.25, for a total transaction of $2,857,500.00. Following the sale, the director now directly owns 550,437 shares of the company’s stock, valued at $52,429,124.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jeffrey Flug sold 304 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $103.01, for a total value of $31,315.04. Following the sale, the director now owns 3,754 shares of the company’s stock, valued at approximately $386,699.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $95.25, for a total transaction of $2,857,500.00. Following the completion of the sale, the director now directly owns 550,437 shares in the company, valued at approximately $52,429,124.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,912 shares of company stock valued at $10,201,834. Company insiders own 10.06% of the company’s stock.

Analyst Upgrades and Downgrades

SHAK has been the subject of several recent research reports. Robert W. Baird increased their price objective on shares of Shake Shack from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Truist Financial upped their target price on shares of Shake Shack from $112.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. TD Cowen restated a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a research note on Wednesday, April 10th. JPMorgan Chase & Co. upped their target price on shares of Shake Shack from $65.00 to $100.00 and gave the company an “underweight” rating in a research note on Monday, March 4th. Finally, Raymond James upped their target price on shares of Shake Shack from $90.00 to $115.00 and gave the company a “strong-buy” rating in a research note on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $88.67.

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.