Teacher Retirement System of Texas Invests $490,000 in Shake Shack, Inc. (NYSE:SHAK)

Teacher Retirement System of Texas acquired a new position in Shake Shack, Inc. (NYSE:SHAK) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,558 shares of the company’s stock, valued at approximately $490,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nemes Rush Group LLC bought a new position in shares of Shake Shack in the fourth quarter valued at $29,000. Harvest Fund Management Co. Ltd bought a new position in Shake Shack in the 4th quarter worth $32,000. Farther Finance Advisors LLC increased its position in Shake Shack by 939.3% during the first quarter. Farther Finance Advisors LLC now owns 291 shares of the company’s stock worth $26,000 after acquiring an additional 263 shares during the period. Garde Capital Inc. acquired a new position in shares of Shake Shack in the first quarter valued at $35,000. Finally, Princeton Global Asset Management LLC acquired a new position in Shake Shack in the first quarter worth about $44,000. 86.07% of the stock is currently owned by institutional investors.

Insider Transactions at Shake Shack

In other news, Director Daniel Harris Meyer sold 14,200 shares of the business’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $140.31, for a total value of $1,992,402.00. Following the completion of the transaction, the director owned 337,984 shares of the company’s stock, valued at $47,422,535.04. The trade was a 4.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Katherine Irene Fogertey sold 670 shares of the firm’s stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $140.03, for a total value of $93,820.10. Following the sale, the chief financial officer directly owned 32,495 shares in the company, valued at $4,550,274.85. The trade was a 2.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,391 shares of company stock valued at $11,869,925. 9.73% of the stock is currently owned by company insiders.

Shake Shack Stock Performance

Shares of Shake Shack stock opened at $136.75 on Thursday. The firm has a fifty day moving average of $128.17 and a two-hundred day moving average of $111.60. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.88 and a current ratio of 1.91. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 488.40, a PEG ratio of 3.22 and a beta of 1.77. Shake Shack, Inc. has a 52 week low of $72.93 and a 52 week high of $144.65.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SHAK shares. Bank of America raised their price target on Shake Shack from $112.00 to $134.00 and gave the company a “neutral” rating in a report on Wednesday, June 25th. Oppenheimer restated an “outperform” rating and set a $160.00 target price (up previously from $125.00) on shares of Shake Shack in a report on Thursday, June 26th. TD Securities restated a “hold” rating and issued a $105.00 target price on shares of Shake Shack in a research note on Thursday, June 26th. Wells Fargo & Company upped their price target on shares of Shake Shack from $95.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, May 30th. Finally, UBS Group decreased their price objective on shares of Shake Shack from $140.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $125.95.

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.