Shake Shack, Inc. (NYSE:SHAK) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in Shake Shack, Inc. (NYSE:SHAK) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,179 shares of the company’s stock after selling 502 shares during the period. State of Alaska Department of Revenue owned approximately 0.05% of Shake Shack worth $1,955,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Driehaus Capital Management LLC purchased a new position in shares of Shake Shack during the fourth quarter worth about $66,349,000. Invesco Ltd. boosted its holdings in Shake Shack by 30.7% in the 4th quarter. Invesco Ltd. now owns 1,245,093 shares of the company’s stock valued at $161,613,000 after purchasing an additional 292,348 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Shake Shack by 204.0% in the 4th quarter. Ameriprise Financial Inc. now owns 324,109 shares of the company’s stock valued at $42,064,000 after purchasing an additional 217,493 shares in the last quarter. Cookson Peirce & Co. Inc. purchased a new stake in shares of Shake Shack during the 4th quarter worth approximately $26,756,000. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Shake Shack by 17.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company’s stock worth $116,078,000 after acquiring an additional 134,475 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Raymond James Financial reissued a “strong-buy” rating and set a $140.00 price target (down previously from $145.00) on shares of Shake Shack in a research note on Friday, May 2nd. Oppenheimer cut their price objective on Shake Shack from $155.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Barclays cut their price objective on Shake Shack from $155.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group lifted their price objective on Shake Shack from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Finally, Stifel Nicolaus cut their price objective on Shake Shack from $120.00 to $97.00 and set a “hold” rating for the company in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shake Shack has a consensus rating of “Hold” and an average target price of $115.40.

Insider Buying and Selling at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 3,956 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $127.49, for a total value of $504,350.44. Following the completion of the transaction, the chief financial officer now directly owns 35,750 shares in the company, valued at $4,557,767.50. This trade represents a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $130.10, for a total transaction of $1,301,000.00. Following the completion of the transaction, the director now owns 396,636 shares of the company’s stock, valued at $51,602,343.60. This trade represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,698 shares of company stock worth $4,499,820. 9.73% of the stock is owned by company insiders.

Shake Shack Price Performance

SHAK opened at $135.60 on Tuesday. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 484.29, a price-to-earnings-growth ratio of 3.15 and a beta of 1.77. Shake Shack, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $139.89. The company’s 50-day moving average price is $111.17 and its 200 day moving average price is $110.45. The company has a quick ratio of 1.88, a current ratio of 1.91 and a debt-to-equity ratio of 0.50.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). Shake Shack had a return on equity of 8.45% and a net margin of 0.97%. The business had revenue of $320.90 million for the quarter, compared to analyst estimates of $330.24 million. During the same quarter last year, the company earned $0.13 EPS. Shake Shack’s revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts expect that Shake Shack, Inc. will post 1.26 earnings per share for the current year.

Shake Shack Company 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.