Shake Shack Inc. (NYSE:SHAK) Position Trimmed by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,627 shares of the company’s stock after selling 181 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Shake Shack were worth $1,010,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Shake Shack in the third quarter worth $1,700,000. Raymond James Financial Services Advisors Inc. raised its position in Shake Shack by 60.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 77,901 shares of the company’s stock valued at $5,774,000 after acquiring an additional 29,431 shares in the last quarter. California Public Employees Retirement System lifted its stake in Shake Shack by 14.6% in the third quarter. California Public Employees Retirement System now owns 67,466 shares of the company’s stock valued at $3,918,000 after acquiring an additional 8,615 shares during the last quarter. Aigen Investment Management LP bought a new stake in Shake Shack in the third quarter worth approximately $216,000. Finally, Campbell & CO Investment Adviser LLC raised its holdings in shares of Shake Shack by 1,816.5% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 80,339 shares of the company’s stock valued at $4,665,000 after purchasing an additional 76,147 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

Insider Transactions at Shake Shack

In other news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $103.01, for a total value of $31,315.04. Following the transaction, the director now owns 3,754 shares of the company’s stock, valued at approximately $386,699.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Daniel Harris Meyer sold 40,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $106.34, for a total transaction of $4,253,600.00. Following the completion of the transaction, the director now directly owns 480,437 shares in the company, valued at approximately $51,089,670.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Flug sold 304 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $103.01, for a total transaction of $31,315.04. Following the completion of the sale, the director now owns 3,754 shares in the company, valued at $386,699.54. The disclosure for this sale can be found here. Insiders sold a total of 100,608 shares of company stock worth $10,178,861 over the last 90 days. 10.06% of the stock is owned by insiders.

Shake Shack Trading Up 2.3 %

Shares of Shake Shack stock opened at $105.10 on Friday. The stock has a market capitalization of $4.45 billion, a P/E ratio of 191.09, a price-to-earnings-growth ratio of 3.79 and a beta of 1.78. Shake Shack Inc. has a 12-month low of $52.79 and a 12-month high of $111.29. The company has a quick ratio of 1.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.52. The company has a 50-day simple moving average of $102.48 and a 200 day simple moving average of $81.78.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. Shake Shack had a return on equity of 4.86% and a net margin of 2.08%. The business had revenue of $290.50 million for the quarter, compared to the consensus estimate of $291.00 million. During the same period in the previous year, the business earned ($0.01) EPS. Shake Shack’s revenue was up 14.7% compared to the same quarter last year. Research analysts expect that Shake Shack Inc. will post 0.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SHAK shares. Morgan Stanley raised their target price on Shake Shack from $88.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Barclays lifted their price target on shares of Shake Shack from $92.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. lifted their target price on shares of Shake Shack from $65.00 to $100.00 and gave the stock an “underweight” rating in a report on Monday, March 4th. Wedbush upped their price target on shares of Shake Shack from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Raymond James increased their target price on Shake Shack from $90.00 to $115.00 and gave the company a “strong-buy” rating in a research note on Friday, February 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $98.24.

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.