Principal Financial Group Inc. Buys 5,928 Shares of Shake Shack Inc. (NYSE:SHAK)

Principal Financial Group Inc. raised its position in shares of Shake Shack Inc. (NYSE:SHAK - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 195,157 shares of the company's stock after acquiring an additional 5,928 shares during the period. Principal Financial Group Inc. owned approximately 0.46% of Shake Shack worth $25,331,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SHAK. Rhumbline Advisers raised its stake in shares of Shake Shack by 0.3% in the 4th quarter. Rhumbline Advisers now owns 106,129 shares of the company's stock worth $13,776,000 after buying an additional 278 shares in the last quarter. New York State Teachers Retirement System raised its position in Shake Shack by 0.5% in the 4th quarter. New York State Teachers Retirement System now owns 39,225 shares of the company's stock worth $5,091,000 after purchasing an additional 200 shares during the last quarter. Legato Capital Management LLC grew its position in shares of Shake Shack by 219.5% during the 4th quarter. Legato Capital Management LLC now owns 22,519 shares of the company's stock worth $2,923,000 after buying an additional 15,470 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Shake Shack by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the company's stock valued at $2,518,000 after purchasing an additional 100 shares during the period. Finally, GDS Wealth Management grew its holdings in shares of Shake Shack by 253.6% in the 4th quarter. GDS Wealth Management now owns 14,277 shares of the company's stock valued at $1,853,000 after acquiring an additional 10,239 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Activity

In other Shake Shack news, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction dated Wednesday, December 11th. The shares were 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 owns 30,717 shares in the company, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SHAK. TD Securities restated a "buy" rating and set a $140.00 price objective on shares of Shake Shack in a research note on Friday, February 21st. UBS Group raised their price target on shares of Shake Shack from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Gordon Haskett raised 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. Stifel Nicolaus cut their target price on Shake Shack from $128.00 to $110.00 and set a "hold" rating for the company in a research note on Friday, January 17th. Finally, Oppenheimer upped their price target on shares of Shake Shack from $145.00 to $155.00 and gave the stock an "outperform" rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $125.50.

Shake Shack Stock Performance

NYSE SHAK traded up $0.25 on Wednesday, hitting $110.95. 517,603 shares of the stock were exchanged, compared to its average volume of 1,481,474. The company has a market capitalization of $4.71 billion, a PE ratio of 483.48 and a beta of 1.86. The business's fifty day moving average is $121.10 and its 200 day moving average is $116.68. Shake Shack Inc. has a 52 week low of $77.50 and a 52 week high of $139.89. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Research analysts anticipate that Shake Shack Inc. will post 1.26 EPS for the current fiscal year.

Shake Shack Company 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.