Shake Shack Inc. (NYSE:SHAK) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lowered its position in Shake Shack Inc. (NYSE:SHAK) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,481 shares of the company’s stock after selling 177 shares during the period. Arizona State Retirement System’s holdings in Shake Shack were worth $777,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Ramirez Asset Management Inc. purchased a new stake in shares of Shake Shack during the third quarter worth about $35,000. Natixis purchased a new stake in shares of Shake Shack during the fourth quarter worth about $53,000. Tower Research Capital LLC TRC increased its stake in shares of Shake Shack by 67.9% during the first quarter. Tower Research Capital LLC TRC now owns 989 shares of the company’s stock worth $55,000 after purchasing an additional 400 shares in the last quarter. C M Bidwell & Associates Ltd. increased its stake in shares of Shake Shack by 122.6% during the third quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock worth $65,000 after purchasing an additional 612 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Shake Shack by 37.4% during the third quarter. CWM LLC now owns 1,349 shares of the company’s stock worth $78,000 after purchasing an additional 367 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SHAK. Truist Financial boosted their target price on shares of Shake Shack from $112.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. BTIG Research boosted their target price on shares of Shake Shack from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. upped their price objective on shares of Shake Shack from $65.00 to $100.00 and gave the company an “underweight” rating in a research note on Monday, March 4th. Wedbush reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Shake Shack in a research note on Wednesday, February 14th. Finally, Morgan Stanley upped their price objective on shares of Shake Shack from $88.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Shake Shack currently has an average rating of “Hold” and a consensus target price of $88.67.

Insider Transactions at Shake Shack

In other news, Director Daniel Harris Meyer sold 23,966 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $100.13, for a total value of $2,399,715.58. Following the transaction, the director now directly owns 526,471 shares in the company, valued at approximately $52,715,541.23. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $108.05, for a total transaction of $32,847.20. Following the sale, the director now directly owns 4,058 shares in the company, valued at approximately $438,466.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Daniel Harris Meyer sold 23,966 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the sale, the director now owns 526,471 shares in the company, valued at $52,715,541.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,912 shares of company stock worth $10,201,834. 10.06% of the stock is currently owned by insiders.

Shake Shack Stock Performance

NYSE:SHAK opened at $94.93 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.04 and a quick ratio of 2.01. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 206.37, a PEG ratio of 3.63 and a beta of 1.80. The company’s 50-day moving average is $99.56 and its two-hundred day moving average is $76.78. Shake Shack Inc. has a 1-year low of $52.64 and a 1-year high of $110.90.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.02 EPS for the quarter. Shake Shack had a net margin of 1.82% and a return on equity of 3.67%. The firm had revenue of $286.20 million for the quarter, compared to analyst estimates of $280.45 million. During the same period in the prior year, the business posted ($0.06) EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. Analysts forecast that Shake Shack Inc. will post 0.71 EPS for the current year.

About Shake Shack

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.