Strs Ohio Takes $2.74 Million Position in Shake Shack Inc. (NYSE:SHAK)

Strs Ohio acquired a new stake in Shake Shack Inc. (NYSE:SHAK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 37,000 shares of the company’s stock, valued at approximately $2,742,000. Strs Ohio owned approximately 0.09% of Shake Shack as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SHAK. Raymond James & Associates lifted its position in shares of Shake Shack by 96.3% in the first quarter. Raymond James & Associates now owns 22,358 shares of the company’s stock valued at $1,518,000 after acquiring an additional 10,967 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Shake Shack by 22.8% in the first quarter. Bank of Montreal Can now owns 16,446 shares of the company’s stock worth $1,118,000 after buying an additional 3,054 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Shake Shack by 54.5% in the first quarter. MetLife Investment Management LLC now owns 20,457 shares of the company’s stock worth $1,389,000 after buying an additional 7,216 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Shake Shack by 6.7% in the first quarter. Rhumbline Advisers now owns 95,267 shares of the company’s stock worth $6,469,000 after buying an additional 5,985 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Shake Shack by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,742 shares of the company’s stock worth $2,291,000 after buying an additional 4,160 shares in the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Shake Shack Trading Down 0.9 %

SHAK opened at $94.39 on Friday. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 205.20, a P/E/G ratio of 3.58 and a beta of 1.80. The stock’s 50 day moving average price is $100.18 and its 200-day moving average price is $77.16. Shake Shack Inc. has a one year low of $52.64 and a one year high of $110.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.01 and a current ratio of 2.04.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, February 15th. The company reported $0.02 EPS for the quarter. The firm had revenue of $286.20 million for the quarter, compared to analysts’ expectations of $280.45 million. Shake Shack had a return on equity of 3.67% and a net margin of 1.82%. The company’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. On average, equities analysts forecast that Shake Shack Inc. will post 0.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SHAK shares. Raymond James boosted their target price on Shake Shack from $90.00 to $115.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 16th. Oppenheimer boosted their target price on Shake Shack from $108.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Truist Financial boosted their target price on Shake Shack from $112.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. BTIG Research boosted their target price on Shake Shack from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, TD Cowen reissued a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $88.67.

Insider Activity

In related news, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $108.05, for a total value of $32,847.20. Following the completion of the sale, the director now owns 4,058 shares in the company, valued at $438,466.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $108.05, for a total value of $32,847.20. Following the completion of the sale, the director now owns 4,058 shares in the company, valued at $438,466.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Harris Meyer sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $106.34, for a total value of $4,253,600.00. Following the completion of the sale, the director now owns 480,437 shares of the company’s stock, valued at approximately $51,089,670.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,912 shares of company stock valued at $10,201,834. 10.06% of the stock is currently owned by 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.