Shake Shack Inc. (NYSE:SHAK) Shares Bought by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System raised its position in Shake Shack Inc. (NYSE:SHAK) by 6.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,382 shares of the company’s stock after purchasing an additional 660 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Shake Shack were worth $1,284,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SHAK. BlackRock Inc. boosted its stake in shares of Shake Shack by 9.9% during the fourth quarter. BlackRock Inc. now owns 5,563,174 shares of the company’s stock valued at $471,646,000 after acquiring an additional 500,504 shares during the last quarter. Norges Bank acquired a new stake in shares of Shake Shack during the fourth quarter valued at $29,946,000. Principal Financial Group Inc. boosted its stake in shares of Shake Shack by 70.7% during the first quarter. Principal Financial Group Inc. now owns 433,726 shares of the company’s stock valued at $48,911,000 after acquiring an additional 179,621 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Shake Shack by 1,022.0% during the fourth quarter. JPMorgan Chase & Co. now owns 148,392 shares of the company’s stock valued at $12,580,000 after acquiring an additional 135,166 shares during the last quarter. Finally, Pier Capital LLC purchased a new position in Shake Shack during the fourth quarter worth about $11,307,000. 84.76% of the stock is currently owned by institutional investors.

Shares of NYSE SHAK opened at $97.88 on Friday. The company has a market cap of $4.11 billion, a P/E ratio of -91.48 and a beta of 1.73. Shake Shack Inc. has a 12-month low of $47.12 and a 12-month high of $138.38. The company has a current ratio of 3.67, a quick ratio of 3.64 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average of $100.76.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.13. The business had revenue of $155.30 million for the quarter, compared to the consensus estimate of $160.89 million. Shake Shack had a negative return on equity of 5.01% and a negative net margin of 7.46%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $0.02 EPS. Equities research analysts forecast that Shake Shack Inc. will post -0.05 earnings per share for the current year.

Several equities analysts recently weighed in on SHAK shares. Zacks Investment Research upgraded Shake Shack from a “sell” rating to a “hold” rating in a research report on Thursday, March 25th. Piper Sandler raised their price objective on Shake Shack from $122.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, March 4th. Cowen cut their price objective on Shake Shack from $97.00 to $93.00 and set a “market perform” rating on the stock in a report on Friday, May 7th. Loop Capital raised their price objective on Shake Shack from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 26th. Finally, Truist raised their price objective on Shake Shack from $99.00 to $105.00 in a report on Thursday, March 18th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $95.83.

In other Shake Shack news, Director Jenna Lyons sold 1,548 shares of Shake Shack stock in a transaction on Friday, April 16th. The stock was sold at an average price of $118.78, for a total transaction of $183,871.44. Following the sale, the director now owns 2,249 shares of the company’s stock, valued at approximately $267,136.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.00% of the stock is owned by 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, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 30, 2020, it operated 311 Shacks, including 183 domestic company-operated Shacks, 22 domestic licensed Shacks, and 106 international licensed Shacks.

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

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