Strs Ohio Invests $2.74 Million in Shake Shack Inc. (NYSE:SHAK)

Strs Ohio bought a new stake in Shake Shack Inc. (NYSE:SHAK) in the 4th quarter, Holdings Channel.com reports. The fund bought 37,000 shares of the company’s stock, valued at approximately $2,742,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 48,614 shares during the last quarter. 12 West Capital Management LP increased its holdings in Shake Shack by 82.2% in the 3rd quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company’s stock valued at $96,373,000 after purchasing an additional 748,789 shares during the last quarter. State Street Corp grew its stake in shares of Shake Shack by 2.4% in the second quarter. State Street Corp now owns 1,318,230 shares of the company’s stock worth $102,453,000 after acquiring an additional 30,401 shares in the last quarter. Van Berkom & Associates Inc. grew its stake in shares of Shake Shack by 19.3% in the third quarter. Van Berkom & Associates Inc. now owns 1,046,339 shares of the company’s stock worth $60,761,000 after acquiring an additional 168,947 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Shake Shack by 4.5% in the first quarter. Geode Capital Management LLC now owns 692,530 shares of the company’s stock worth $38,429,000 after acquiring an additional 30,086 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

Insider Activity

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

Shake Shack Price Performance

Shares of SHAK opened at $94.39 on Friday. Shake Shack Inc. has a 1-year low of $52.64 and a 1-year high of $110.90. The stock has a market cap of $3.99 billion, a PE ratio of 205.20, a price-to-earnings-growth ratio of 3.58 and a beta of 1.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.04 and a quick ratio of 2.01. The firm has a fifty day moving average price of $100.18 and a 200 day moving average price of $77.16.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com downgraded shares of Shake Shack from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. Morgan Stanley boosted their price target on shares of Shake Shack from $88.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. BTIG Research boosted their price target on shares of Shake Shack from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Truist Financial boosted their price target on shares of Shake Shack from $112.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, UBS Group lifted their price objective on shares of Shake Shack from $80.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus 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.