Louisiana State Employees Retirement System Raises Stock Position in Shake Shack Inc. (NYSE:SHAK)

Louisiana State Employees Retirement System grew its holdings in Shake Shack Inc. (NYSE:SHAK) by 1.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 18,900 shares of the company’s stock after acquiring an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Shake Shack were worth $1,701,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Shake Shack in the 1st quarter worth $25,000. GAMMA Investing LLC purchased a new position in shares of Shake Shack during the 4th quarter worth about $32,000. Covestor Ltd boosted its position in Shake Shack by 32,150.0% in the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock valued at $67,000 after buying an additional 643 shares during the period. CWM LLC boosted its position in Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after buying an additional 207 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Shake Shack in the 1st quarter valued at about $97,000. 86.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SHAK. Barclays boosted their price objective on shares of Shake Shack from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. UBS Group boosted their price target on shares of Shake Shack from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Bank of America boosted their price target on shares of Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Morgan Stanley reduced their price target on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Finally, Truist Financial boosted their price target on shares of Shake Shack from $125.00 to $127.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $106.37.

Shake Shack Trading Up 2.0 %

NYSE SHAK opened at $108.97 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51. The firm has a market cap of $4.63 billion, a PE ratio of 198.13, a price-to-earnings-growth ratio of 3.28 and a beta of 1.75. The company has a 50 day moving average price of $91.85 and a 200 day moving average price of $96.41. Shake Shack Inc. has a 52 week low of $52.79 and a 52 week high of $111.29.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The business had revenue of $316.50 million for the quarter, compared to analyst estimates of $314.37 million. During the same quarter in the prior year, the business posted $0.18 EPS. Shake Shack’s revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Shake Shack Inc. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 963 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $96.03, for a total transaction of $92,476.89. Following the transaction, the chief financial officer now owns 37,464 shares in the company, valued at approximately $3,597,667.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Shake Shack news, CFO Katherine Irene Fogertey sold 963 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $96.03, for a total transaction of $92,476.89. Following the transaction, the chief financial officer now owns 37,464 shares in the company, valued at approximately $3,597,667.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the completion of the sale, the director now directly owns 470,437 shares in the company, valued at $51,860,974.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,892 shares of company stock worth $1,279,534. 9.73% of the stock is owned by corporate insiders.

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.