Shake Shack, Inc. $SHAK Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in shares of Shake Shack, Inc. (NYSE:SHAK) by 20.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,515 shares of the company’s stock after selling 49,888 shares during the quarter. Principal Financial Group Inc. owned about 0.46% of Shake Shack worth $18,209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AlphaQuest LLC grew its holdings in shares of Shake Shack by 90.9% during the third quarter. AlphaQuest LLC now owns 2,474 shares of the company’s stock valued at $232,000 after buying an additional 1,178 shares during the last quarter. Arizona State Retirement System grew its stake in Shake Shack by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 11,307 shares of the company’s stock valued at $1,058,000 after purchasing an additional 195 shares during the last quarter. Knights of Columbus Asset Advisors LLC grew its stake in Shake Shack by 4.3% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 21,753 shares of the company’s stock valued at $2,036,000 after purchasing an additional 905 shares during the last quarter. Great Lakes Advisors LLC increased its holdings in shares of Shake Shack by 25.1% in the third quarter. Great Lakes Advisors LLC now owns 5,730 shares of the company’s stock valued at $536,000 after purchasing an additional 1,151 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Shake Shack by 20.2% in the third quarter. Federated Hermes Inc. now owns 17,253 shares of the company’s stock worth $1,615,000 after purchasing an additional 2,902 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Trading Up 5.5%

Shares of SHAK stock opened at $98.16 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 market cap of $4.19 billion, a price-to-earnings ratio of 96.24, a PEG ratio of 3.01 and a beta of 1.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.84 and a quick ratio of 1.81. The stock has a 50 day simple moving average of $87.81 and a 200-day simple moving average of $95.49.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Mizuho upgraded Shake Shack to a “hold” rating in a research report on Tuesday, October 28th. Jefferies Financial Group restated a “hold” rating on shares of Shake Shack in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a report on Tuesday, January 6th. UBS Group decreased their target price on shares of Shake Shack from $140.00 to $104.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Finally, Stifel Nicolaus cut their price target on Shake Shack from $110.00 to $105.00 and set a “hold” rating on the stock in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $116.52.

Insiders Place Their Bets

In related news, insider Stephanie Ann Sentell sold 1,100 shares of Shake Shack stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $85.14, for a total value of $93,654.00. Following the sale, the insider directly owned 9,907 shares in the company, valued at approximately $843,481.98. The trade was a 9.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 1,500 shares of company stock valued at $130,648. Company insiders own 8.50% of the company’s stock.

Shake Shack Company Profile

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.