New York State Common Retirement Fund Decreases Stake in Shake Shack Inc. (NYSE:SHAK)

New York State Common Retirement Fund cut its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,934 shares of the company’s stock after selling 202 shares during the quarter. New York State Common Retirement Fund’s holdings in Shake Shack were worth $1,774,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC increased its stake in Shake Shack by 6.9% in the third quarter. SG Americas Securities LLC now owns 3,747 shares of the company’s stock valued at $218,000 after purchasing an additional 243 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Shake Shack by 5.7% in the third quarter. Commonwealth Equity Services LLC now owns 4,560 shares of the company’s stock valued at $265,000 after acquiring an additional 247 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Shake Shack by 1.4% during the third quarter. Los Angeles Capital Management LLC now owns 19,679 shares of the company’s stock worth $1,143,000 after purchasing an additional 274 shares during the last quarter. Natixis Advisors L.P. increased its position in shares of Shake Shack by 3.8% during the third quarter. Natixis Advisors L.P. now owns 10,695 shares of the company’s stock worth $621,000 after purchasing an additional 388 shares in the last quarter. Finally, RFG Advisory LLC lifted its holdings in shares of Shake Shack by 10.3% in the 4th quarter. RFG Advisory LLC now owns 4,401 shares of the company’s stock valued at $326,000 after purchasing an additional 412 shares during the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on SHAK. Oppenheimer raised their target price on Shake Shack from $108.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. UBS Group raised their target price on shares of Shake Shack from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Wedbush upped their target price on shares of Shake Shack from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Truist Financial boosted their price objective on shares of Shake Shack from $115.00 to $124.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, Raymond James boosted their price target on Shake Shack from $90.00 to $115.00 and gave the company a “strong-buy” rating in a report on Friday, February 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $98.24.

Shake Shack Stock Performance

Shake Shack stock opened at $102.70 on Thursday. Shake Shack Inc. has a 12 month low of $52.79 and a 12 month high of $111.29. The stock’s 50-day moving average is $102.50 and its 200-day moving average is $81.62. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.03 and a quick ratio of 1.99. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 186.73, a price-to-earnings-growth ratio of 3.79 and a beta of 1.78.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The firm had revenue of $290.50 million during the quarter, compared to analysts’ expectations of $291.00 million. During the same period in the prior year, the company earned ($0.01) EPS. The firm’s revenue was up 14.7% on a year-over-year basis. Equities analysts anticipate that Shake Shack Inc. will post 0.72 earnings per share for the current year.

Insider Buying and Selling at Shake Shack

In related news, Director Jeffrey Flug sold 304 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $108.05, for a total transaction of $32,847.20. Following the sale, the director now owns 4,058 shares in the company, valued at $438,466.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $108.05, for a total value of $32,847.20. Following the transaction, the director now owns 4,058 shares of the company’s stock, valued at approximately $438,466.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 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 disclosure for this sale can be found here. Insiders sold 100,608 shares of company stock valued at $10,178,861 over the last 90 days. 10.06% of the stock is owned by corporate insiders.

Shake Shack Profile

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.