Illinois Municipal Retirement Fund Reduces Stake in Shake Shack Inc. (NYSE:SHAK)

Illinois Municipal Retirement Fund lessened its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,337 shares of the company’s stock after selling 1,105 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of Shake Shack worth $1,581,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ramirez Asset Management Inc. purchased a new position in Shake Shack during the third quarter worth about $35,000. C M Bidwell & Associates Ltd. raised its position in shares of Shake Shack by 122.6% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock valued at $65,000 after buying an additional 612 shares during the period. CWM LLC lifted its holdings in Shake Shack by 37.4% in the third quarter. CWM LLC now owns 1,349 shares of the company’s stock valued at $78,000 after acquiring an additional 367 shares during the last quarter. QRG Capital Management Inc. acquired a new position in Shake Shack in the third quarter valued at approximately $206,000. Finally, Aigen Investment Management LP purchased a new position in Shake Shack in the third quarter worth approximately $216,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SHAK shares. TD Cowen reaffirmed a “buy” rating and issued a $125.00 price target on shares of Shake Shack in a research note on Wednesday, April 10th. JPMorgan Chase & Co. upped their target price on shares of Shake Shack from $65.00 to $100.00 and gave the company an “underweight” rating in a research report on Monday, March 4th. StockNews.com lowered shares of Shake Shack from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. Oppenheimer boosted their price target on shares of Shake Shack from $108.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, Raymond James upped their price objective on shares of Shake Shack from $90.00 to $115.00 and gave the stock a “strong-buy” rating in a report on Friday, February 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Shake Shack has a consensus rating of “Hold” and an average price target of $88.67.

Shake Shack Trading Up 3.5 %

SHAK opened at $104.94 on Friday. The business has a fifty day moving average price of $101.42 and a 200 day moving average price of $78.34. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.04 and a quick ratio of 2.01. Shake Shack Inc. has a 12 month low of $52.64 and a 12 month high of $110.90. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 228.13, a PEG ratio of 3.65 and a beta of 1.80.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.02 earnings per share (EPS) for the quarter. Shake Shack had a return on equity of 3.67% and a net margin of 1.82%. The business had revenue of $286.20 million during the quarter, compared to analysts’ expectations of $280.45 million. During the same quarter last year, the business posted ($0.06) EPS. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. Sell-side analysts expect that Shake Shack Inc. will post 0.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $103.01, for a total value of $31,315.04. Following the sale, the director now directly owns 3,754 shares in the company, valued at approximately $386,699.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $95.25, for a total transaction of $2,857,500.00. Following the sale, the director now owns 550,437 shares of the company’s stock, valued at approximately $52,429,124.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $103.01, for a total value of $31,315.04. Following the completion of the transaction, the director now directly owns 3,754 shares of the company’s stock, valued at $386,699.54. The disclosure for this sale can be found here. Insiders sold 100,912 shares of company stock worth $10,201,834 in the last 90 days. Corporate insiders own 10.06% of the company’s stock.

Shake Shack Company 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.