State of Alaska Department of Revenue Grows Holdings in Shake Shack Inc. (NYSE:SHAK)

State of Alaska Department of Revenue boosted its position in Shake Shack Inc. (NYSE:SHAK) by 3.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 22,816 shares of the company’s stock after acquiring an additional 708 shares during the quarter. State of Alaska Department of Revenue’s holdings in Shake Shack were worth $2,354,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Shake Shack by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock worth $72,088,000 after acquiring an additional 66,090 shares during the last quarter. Armistice Capital LLC increased its holdings in Shake Shack by 69.1% during the 2nd quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock worth $52,191,000 after purchasing an additional 236,950 shares during the last quarter. Marshall Wace LLP increased its holdings in Shake Shack by 101.2% during the 2nd quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after purchasing an additional 273,822 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Shake Shack by 41.9% in the 2nd quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock valued at $39,384,000 after purchasing an additional 129,200 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Shake Shack by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 300,539 shares of the company’s stock valued at $27,048,000 after buying an additional 4,201 shares during the last quarter. 86.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on SHAK shares. The Goldman Sachs Group upped their price target on shares of Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $115.00 price target on shares of Shake Shack in a research report on Wednesday, August 28th. Oppenheimer boosted their price objective on Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Piper Sandler downgraded Shake Shack from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $121.00 to $114.00 in a report on Monday, August 19th. Finally, Capital One Financial initiated coverage on Shake Shack in a report on Monday, July 29th. They issued an “overweight” rating and a $95.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Shake Shack has a consensus rating of “Hold” and an average target price of $110.00.

Insider Activity at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 22,691 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total value of $2,824,348.77. Following the transaction, the director now owns 437,646 shares of the company’s stock, valued at approximately $54,473,797.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Shake Shack news, Director Daniel Harris Meyer sold 22,691 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total value of $2,824,348.77. Following the completion of the transaction, the director now directly owns 437,646 shares in the company, valued at $54,473,797.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $90.39, for a total transaction of $27,478.56. Following the transaction, the director now owns 3,347 shares in the company, valued at approximately $302,535.33. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,058 shares of company stock valued at $5,161,562 over the last ninety days. Insiders own 9.73% of the company’s stock.

Shake Shack Price Performance

Shares of SHAK opened at $124.10 on Friday. Shake Shack Inc. has a one year low of $54.06 and a one year high of $130.20. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 728.76, a price-to-earnings-growth ratio of 3.58 and a beta of 1.83. The stock’s fifty day moving average is $105.87 and its 200-day moving average is $98.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.01.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The business had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. Equities analysts anticipate that Shake Shack Inc. will post 0.74 EPS for the current year.

Shake Shack 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.