State of New Jersey Common Pension Fund D Has $2.59 Million Stock Position in Shake Shack Inc. (NYSE:SHAK)

State of New Jersey Common Pension Fund D increased its holdings in shares of Shake Shack Inc. (NYSE:SHAKGet Rating) by 11.3% in the 1st quarter, HoldingsChannel reports. The firm owned 38,140 shares of the company’s stock after acquiring an additional 3,859 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Shake Shack were worth $2,590,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Ellis Investment Partners LLC grew its stake in Shake Shack by 100.0% in the fourth quarter. Ellis Investment Partners LLC now owns 460 shares of the company’s stock valued at $33,000 after acquiring an additional 230 shares during the period. HM Payson & Co. acquired a new stake in Shake Shack in the fourth quarter valued at approximately $37,000. CWM LLC acquired a new stake in Shake Shack in the fourth quarter valued at approximately $42,000. Pinebridge Investments L.P. acquired a new stake in Shake Shack in the fourth quarter valued at approximately $43,000. Finally, Parkside Investments LLC acquired a new stake in Shake Shack in the first quarter valued at approximately $47,000. Institutional investors and hedge funds own 81.03% of the company’s stock.

Shake Shack Trading Up 1.3 %

NYSE SHAK opened at $51.46 on Monday. Shake Shack Inc. has a 1-year low of $37.72 and a 1-year high of $103.54. The company has a current ratio of 3.07, a quick ratio of 3.04 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average of $43.86 and a 200-day moving average of $56.91. The firm has a market cap of $2.16 billion, a PE ratio of -98.96 and a beta of 1.51.

Shake Shack (NYSE:SHAKGet Rating) last announced its earnings results on Thursday, May 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.03. Shake Shack had a negative return on equity of 2.87% and a negative net margin of 2.55%. The firm had revenue of $203.39 million during the quarter, compared to analyst estimates of $200.64 million. During the same quarter in the prior year, the company earned $0.04 EPS. The business’s revenue was up 31.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Shake Shack Inc. will post -0.32 EPS for the current year.

Insider Buying and Selling

In related news, COO Zach Koff sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the sale, the chief operating officer now owns 31,085 shares in the company, valued at approximately $1,398,825. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Daniel Harris Meyer purchased 21,000 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The shares were bought at an average price of $39.58 per share, for a total transaction of $831,180.00. Following the purchase, the director now directly owns 576,364 shares of the company’s stock, valued at approximately $22,812,487.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Zach Koff sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the sale, the chief operating officer now owns 31,085 shares in the company, valued at approximately $1,398,825. The disclosure for this sale can be found here. 9.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SHAK. Truist Financial reduced their price objective on Shake Shack from $86.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, July 1st. Barclays cut their target price on Shake Shack from $57.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 9th. Oppenheimer cut their target price on Shake Shack from $90.00 to $75.00 in a research report on Friday, May 6th. Northcoast Research raised Shake Shack from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Monday, May 16th. Finally, Wedbush cut their target price on Shake Shack from $83.00 to $75.00 in a research report on Friday, May 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $69.22.

Shake Shack Profile

(Get Rating)

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 29, 2021, it operated 369 Shacks, including 218 domestic company-operated Shacks, 25 domestic licensed Shacks, and 126 international licensed Shacks.

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

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