Public Sector Pension Investment Board Acquires 5,976 Shares of Shake Shack Inc. (NYSE:SHAK)

Public Sector Pension Investment Board raised its holdings in shares of Shake Shack Inc. (NYSE:SHAK) by 7.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,831 shares of the company’s stock after buying an additional 5,976 shares during the period. Public Sector Pension Investment Board owned about 0.20% of Shake Shack worth $7,455,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Shake Shack in the 4th quarter worth $12,238,000. Capstone Investment Advisors LLC increased its position in Shake Shack by 52.0% in the fourth quarter. Capstone Investment Advisors LLC now owns 16,993 shares of the company’s stock worth $1,260,000 after buying an additional 5,817 shares in the last quarter. Madison Asset Management LLC raised its stake in shares of Shake Shack by 52.6% in the fourth quarter. Madison Asset Management LLC now owns 84,062 shares of the company’s stock worth $6,231,000 after buying an additional 28,975 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of Shake Shack during the 4th quarter valued at about $408,000. Finally, Armistice Capital LLC bought a new position in shares of Shake Shack during the 4th quarter valued at approximately $11,213,000. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Stock Down 2.4 %

Shares of SHAK opened at $104.06 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.06 and a quick ratio of 2.03. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 189.20, a price-to-earnings-growth ratio of 3.20 and a beta of 1.83. Shake Shack Inc. has a 1 year low of $52.79 and a 1 year high of $111.29. The business’s 50 day simple moving average is $98.02 and its 200-day simple moving average is $97.42.

Shake Shack (NYSE:SHAK) last released 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 company had revenue of $316.50 million for the quarter, compared to the consensus estimate of $314.37 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Shake Shack’s revenue was up 16.4% on a year-over-year basis. As a group, equities analysts expect that Shake Shack Inc. will post 0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Robert W. Baird raised their target price on shares of Shake Shack from $93.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. TD Cowen restated a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. Wedbush reaffirmed a “neutral” rating and issued a $90.00 target price on shares of Shake Shack in a report on Thursday, August 1st. Bank of America raised their price target on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Finally, Capital One Financial initiated coverage on Shake Shack in a research report on Monday, July 29th. They issued an “overweight” rating and a $95.00 price objective on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shake Shack presently has a consensus rating of “Hold” and an average target price of $107.39.

Insider Activity

In related news, CFO Katherine Irene Fogertey sold 963 shares of Shake Shack stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $96.03, for a total value of $92,476.89. Following the completion of the transaction, the chief financial officer now owns 37,464 shares in the company, valued at $3,597,667.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Katherine Irene Fogertey sold 963 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $96.03, for a total value of $92,476.89. Following the completion of the sale, the chief financial officer now directly owns 37,464 shares in the company, valued at $3,597,667.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel Harris Meyer sold 10,000 shares of the business’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 transaction, the director now owns 470,437 shares in the company, valued at approximately $51,860,974.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,213 shares of company stock worth $1,311,175. 9.73% of the stock is currently 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.