State of New Jersey Common Pension Fund D Sells 221 Shares of Shake Shack Inc. (NYSE:SHAK)

State of New Jersey Common Pension Fund D lowered its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 18,423 shares of the company’s stock after selling 221 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Shake Shack were worth $1,901,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SHAK. Allspring Global Investments Holdings LLC bought a new position in shares of Shake Shack during the 1st quarter valued at approximately $25,000. SG Americas Securities LLC boosted its holdings in Shake Shack by 43.6% during the 1st quarter. SG Americas Securities LLC now owns 3,389 shares of the company’s stock valued at $353,000 after acquiring an additional 1,029 shares during the period. Russell Investments Group Ltd. boosted its holdings in Shake Shack by 61,625.0% during the 1st quarter. Russell Investments Group Ltd. now owns 2,469 shares of the company’s stock valued at $257,000 after acquiring an additional 2,465 shares during the period. ProShare Advisors LLC boosted its holdings in Shake Shack by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 7,609 shares of the company’s stock valued at $792,000 after acquiring an additional 522 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Shake Shack by 20.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,997 shares of the company’s stock valued at $1,352,000 after acquiring an additional 2,210 shares during the period. Institutional investors own 86.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SHAK. 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. Truist Financial boosted their price objective on Shake Shack from $127.00 to $144.00 and gave the company a “buy” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $115.00 target price on shares of Shake Shack in a report on Wednesday, August 28th. Robert W. Baird upped their target price on Shake Shack from $93.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Wedbush reiterated a “neutral” rating and issued a $90.00 target price on shares of Shake Shack in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $112.94.

Insider Activity at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $98.57, for a total value of $31,640.97. Following the transaction, the chief financial officer now directly owns 36,822 shares of the company’s stock, valued at approximately $3,629,544.54. This represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $110.08, for a total value of $1,100,800.00. Following the completion of the transaction, the director now directly owns 460,337 shares in the company, valued at $50,673,896.96. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,433 shares of company stock valued at $7,654,856 in the last ninety days. Corporate insiders own 9.73% of the company’s stock.

Shake Shack Trading Down 2.0 %

Shares of NYSE:SHAK opened at $121.53 on Monday. The business’s 50-day moving average is $111.66 and its 200 day moving average is $100.82. Shake Shack Inc. has a 1 year low of $59.51 and a 1 year high of $134.90. The firm has a market capitalization of $5.16 billion, a P/E ratio of 714.88, a P/E/G ratio of 2.78 and a beta of 1.81. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98.

Shake Shack (NYSE:SHAK) last announced its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) 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 company had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. During the same period in the prior year, the company posted $0.17 EPS. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, research analysts predict that Shake Shack Inc. will post 0.82 earnings per share for the current fiscal 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.