New York State Common Retirement Fund lifted its stake in shares of Shake Shack Inc. (NYSE:SHAK - Free Report) by 58.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,709 shares of the company's stock after acquiring an additional 10,970 shares during the period. New York State Common Retirement Fund owned 0.07% of Shake Shack worth $3,856,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Pittenger & Anderson Inc. acquired a new position in shares of Shake Shack during the 4th quarter valued at $199,000. Catalyst Capital Advisors LLC purchased a new position in Shake Shack in the 4th quarter worth approximately $2,531,000. Principal Financial Group Inc. grew its position in Shake Shack by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 195,157 shares of the company's stock valued at $25,331,000 after acquiring an additional 5,928 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Shake Shack by 0.3% during the fourth quarter. Rhumbline Advisers now owns 106,129 shares of the company's stock valued at $13,776,000 after purchasing an additional 278 shares during the period. Finally, New York State Teachers Retirement System increased its position in shares of Shake Shack by 0.5% during the fourth quarter. New York State Teachers Retirement System now owns 39,225 shares of the company's stock worth $5,091,000 after acquiring an additional 200 shares during the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.
Shake Shack Stock Performance
Shares of NYSE SHAK traded up $0.19 during trading hours on Tuesday, hitting $102.97. 1,131,074 shares of the stock were exchanged, compared to its average volume of 1,453,269. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98. The company's 50 day moving average is $119.38 and its 200 day moving average is $116.74. The firm has a market capitalization of $4.38 billion, a P/E ratio of 447.66 and a beta of 1.89. Shake Shack Inc. has a one year low of $77.50 and a one year high of $139.89.
Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.01. The firm had revenue of $328.68 million during the quarter, compared to the consensus estimate of $329.02 million. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. On average, research analysts expect that Shake Shack Inc. will post 1.26 EPS for the current year.
Analysts Set New Price Targets
Several brokerages recently weighed in on SHAK. Wedbush boosted their price objective on Shake Shack from $115.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Stifel Nicolaus reduced their price objective on Shake Shack from $128.00 to $110.00 and set a "hold" rating for the company in a research report on Friday, January 17th. Barclays raised Shake Shack from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $125.00 to $159.00 in a report on Tuesday, January 7th. Gordon Haskett upgraded shares of Shake Shack from a "hold" rating to a "buy" rating and set a $154.00 price objective for the company in a report on Wednesday, January 8th. Finally, UBS Group upped their target price on Shake Shack from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $125.50.
Read Our Latest Analysis on SHAK
Insider Transactions at Shake Shack
In other news, CFO Katherine Irene Fogertey sold 642 shares of the firm's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the completion of the sale, the chief financial officer now directly owns 30,717 shares in the company, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 9.73% of the stock is owned by insiders.
Shake Shack Company Profile
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Free Report)
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.
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