Shake Shack Inc. (NYSE:SHAK) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its holdings in shares of Shake Shack Inc. (NYSE:SHAK) by 8.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,438 shares of the company’s stock after selling 413 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Shake Shack were worth $399,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in Shake Shack by 1.1% during the 2nd quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock worth $1,612,000 after buying an additional 187 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Shake Shack by 1.9% in the second quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock worth $945,000 after acquiring an additional 196 shares during the last quarter. CWM LLC increased its holdings in shares of Shake Shack by 24.7% during the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after buying an additional 207 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Shake Shack by 5.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,855 shares of the company’s stock worth $347,000 after acquiring an additional 212 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Shake Shack during the 1st quarter worth $25,000. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Trading Down 1.3 %

Shares of Shake Shack stock opened at $104.71 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 business’s 50 day moving average is $99.26 and its 200-day moving average is $97.57. Shake Shack Inc. has a 12-month low of $52.79 and a 12-month high of $111.29. The stock has a market cap of $4.45 billion, a P/E ratio of 190.39, a P/E/G ratio of 3.13 and a beta of 1.83.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data 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 return on equity of 5.63% and a net margin of 2.23%. The company had revenue of $316.50 million during the quarter, compared to analysts’ expectations of $314.37 million. During the same period last year, the firm posted $0.18 earnings per share. The business’s revenue was up 16.4% on a year-over-year basis. Equities research analysts predict that Shake Shack Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Transactions at Shake Shack

In other news, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $90.39, for a total value of $27,478.56. Following the completion of the sale, the director now owns 3,347 shares of the company’s stock, valued at $302,535.33. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the transaction, the director now owns 470,437 shares in the company, valued at approximately $51,860,974.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction on Monday, August 5th. The shares were sold at an average price of $90.39, for a total value of $27,478.56. Following the completion of the transaction, the director now directly owns 3,347 shares of the company’s stock, valued at $302,535.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,213 shares of company stock worth $1,311,175. Company insiders own 9.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SHAK shares. JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 price objective (down from $105.00) on shares of Shake Shack in a report on Tuesday. Capital One Financial began coverage on Shake Shack in a report on Monday, July 29th. They issued an “overweight” rating and a $95.00 price target on the stock. Wedbush restated a “neutral” rating and issued a $90.00 target price on shares of Shake Shack in a research report on Thursday, August 1st. The Goldman Sachs Group increased their price target on Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Robert W. Baird boosted 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. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Shake Shack has an average rating of “Hold” and a consensus price target of $107.39.

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.