State of Alaska Department of Revenue Trims Stake in Shake Shack Inc. (NYSE:SHAK)

State of Alaska Department of Revenue trimmed its holdings in shares of Shake Shack Inc. (NYSE:SHAKFree Report) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,844 shares of the company’s stock after selling 207 shares during the quarter. State of Alaska Department of Revenue owned about 0.05% of Shake Shack worth $2,376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SHAK. Allspring Global Investments Holdings LLC bought a new stake in Shake Shack during the first quarter worth about $25,000. Counterpoint Mutual Funds LLC bought a new stake in Shake Shack during the first quarter worth about $291,000. Annex Advisory Services LLC bought a new stake in Shake Shack during the first quarter worth about $633,000. Range Financial Group LLC bought a new stake in Shake Shack during the first quarter worth about $828,000. Finally, RFG Advisory LLC raised its position in Shake Shack by 16.9% in the 1st quarter. RFG Advisory LLC now owns 5,144 shares of the company’s stock worth $535,000 after purchasing an additional 743 shares during the period. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHAK has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price target on shares of Shake Shack from $102.00 to $105.00 and gave the company an “underweight” rating in a research report on Monday, June 3rd. UBS Group upped their price target on shares of Shake Shack from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Truist Financial upped their price target on shares of Shake Shack from $124.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Morgan Stanley upped their price target on shares of Shake Shack from $88.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. Finally, BTIG Research upped their price objective on shares of Shake Shack from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $99.22.

View Our Latest Research Report on Shake Shack

Shake Shack Price Performance

Shares of SHAK opened at $86.35 on Friday. The stock has a market cap of $3.65 billion, a PE ratio of 157.00, a price-to-earnings-growth ratio of 3.41 and a beta of 1.75. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.99 and a current ratio of 2.03. Shake Shack Inc. has a fifty-two week low of $52.79 and a fifty-two week high of $111.29. The firm’s 50-day simple moving average is $95.52 and its two-hundred day simple moving average is $91.22.

Shake Shack (NYSE:SHAKGet Free Report) last announced its quarterly earnings data 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. The business had revenue of $290.50 million for the quarter, compared to analysts’ expectations of $291.00 million. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.01) earnings per share. Analysts anticipate that Shake Shack Inc. will post 0.74 earnings per share for the current fiscal year.

About Shake Shack

(Free Report)

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.

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Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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