California Public Employees Retirement System Has $6.09 Million Stake in Shake Shack Inc. (NYSE:SHAK)

California Public Employees Retirement System trimmed its position in shares of Shake Shack Inc. (NYSE:SHAK - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,950 shares of the company's stock after selling 4,219 shares during the period. California Public Employees Retirement System owned approximately 0.11% of Shake Shack worth $6,094,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Harvest Fund Management Co. Ltd acquired a new stake in Shake Shack during the 4th quarter worth about $32,000. Transcendent Capital Group LLC purchased a new position in Shake Shack during the fourth quarter valued at approximately $52,000. R Squared Ltd acquired a new position in Shake Shack in the 4th quarter valued at approximately $56,000. Whittier Trust Co. of Nevada Inc. lifted its position in Shake Shack by 200.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 600 shares of the company's stock worth $78,000 after buying an additional 400 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Shake Shack by 619.4% during the 4th quarter. Signaturefd LLC now owns 705 shares of the company's stock valued at $92,000 after buying an additional 607 shares during the period. Institutional investors and hedge funds own 86.07% of the company's stock.

Shake Shack Stock Up 0.5 %

Shares of NYSE SHAK traded up $0.38 during mid-day trading on Friday, reaching $82.59. 1,017,511 shares of the company's stock were exchanged, compared to its average volume of 1,054,210. The business has a fifty day simple moving average of $96.89 and a 200 day simple moving average of $113.45. Shake Shack Inc. has a twelve month low of $72.93 and a twelve month high of $139.89. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 359.07 and a beta of 1.80.

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Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.25 by $0.01. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The firm had revenue of $328.68 million for the quarter, compared to analysts' expectations of $329.02 million. As a group, equities analysts expect that Shake Shack Inc. will post 1.26 EPS for the current fiscal year.

Analysts Set New Price Targets

SHAK has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Shake Shack from $107.00 to $105.00 and set an "underweight" rating for the company in a research note on Thursday, March 20th. UBS Group increased their price objective on Shake Shack from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Loop Capital upgraded Shake Shack from a "hold" rating to a "buy" rating and set a $127.00 target price for the company in a report on Tuesday, April 1st. Wells Fargo & Company started coverage on shares of Shake Shack in a research report on Wednesday, March 26th. They issued an "equal weight" rating and a $95.00 price target on the stock. Finally, Robert W. Baird decreased their price objective on shares of Shake Shack from $98.00 to $85.00 and set a "neutral" rating for the company in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $121.70.

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.