Arizona State Retirement System Sells 116 Shares of Shake Shack, Inc. (NYSE:SHAK)

Arizona State Retirement System reduced its stake in shares of Shake Shack, Inc. (NYSE:SHAK) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,908 shares of the company’s stock after selling 116 shares during the quarter. Arizona State Retirement System’s holdings in Shake Shack were worth $962,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Xponance Inc. increased its position in Shake Shack by 5.9% during the first quarter. Xponance Inc. now owns 2,868 shares of the company’s stock valued at $253,000 after acquiring an additional 159 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Shake Shack by 36.2% during the 1st quarter. Cerity Partners LLC now owns 3,741 shares of the company’s stock worth $330,000 after purchasing an additional 994 shares during the period. Banque Pictet & Cie SA purchased a new position in shares of Shake Shack during the 1st quarter worth about $372,000. Stratos Wealth Partners LTD. grew its holdings in Shake Shack by 74.3% during the 1st quarter. Stratos Wealth Partners LTD. now owns 4,660 shares of the company’s stock valued at $411,000 after purchasing an additional 1,986 shares during the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new stake in Shake Shack in the 1st quarter worth about $346,000. 86.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SHAK shares. Raymond James Financial reiterated a “strong-buy” rating and set a $140.00 target price (down from $145.00) on shares of Shake Shack in a research report on Friday, May 2nd. The Goldman Sachs Group lifted their price objective on shares of Shake Shack from $120.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Truist Financial boosted their price objective on shares of Shake Shack from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Morgan Stanley raised their target price on shares of Shake Shack from $109.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Finally, Barclays boosted their price target on Shake Shack from $166.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $126.86.

Shake Shack Stock Down 0.0%

Shake Shack stock opened at $134.87 on Monday. Shake Shack, Inc. has a 1-year low of $72.93 and a 1-year high of $144.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.91 and a quick ratio of 1.88. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 481.68, a PEG ratio of 3.10 and a beta of 1.77. The business has a fifty day moving average price of $129.40 and a 200-day moving average price of $111.39.

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

Insider Activity at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 3,956 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $127.49, for a total transaction of $504,350.44. Following the completion of the transaction, the chief financial officer owned 35,750 shares of the company’s stock, valued at $4,557,767.50. This trade represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel Harris Meyer sold 20,000 shares of the business’s stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $140.07, for a total transaction of $2,801,400.00. Following the transaction, the director owned 367,984 shares of the company’s stock, valued at $51,543,518.88. This represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,391 shares of company stock worth $11,869,925. 9.73% 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.