Public Sector Pension Investment Board Increases Stock Holdings in Shake Shack, Inc. $SHAK

Public Sector Pension Investment Board raised its stake in shares of Shake Shack, Inc. (NYSE:SHAK) by 14.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 156,998 shares of the company’s stock after purchasing an additional 19,889 shares during the quarter. Public Sector Pension Investment Board’s holdings in Shake Shack were worth $14,697,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new stake in shares of Shake Shack in the 1st quarter worth about $26,000. Global Retirement Partners LLC raised its stake in Shake Shack by 83.7% in the third quarter. Global Retirement Partners LLC now owns 327 shares of the company’s stock worth $31,000 after buying an additional 149 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Shake Shack by 12.5% in the third quarter. Smartleaf Asset Management LLC now owns 964 shares of the company’s stock worth $91,000 after buying an additional 107 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Shake Shack by 159.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 748 shares of the company’s stock worth $105,000 after buying an additional 460 shares during the period. Finally, Nkcfo LLC bought a new stake in Shake Shack during the 2nd quarter valued at approximately $115,000. 86.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SHAK. Raymond James Financial set a $140.00 target price on Shake Shack in a research report on Wednesday, January 21st. Piper Sandler reduced their price target on Shake Shack from $126.00 to $102.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Shake Shack in a report on Wednesday, January 21st. Barclays dropped their target price on shares of Shake Shack from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Finally, Zacks Research downgraded shares of Shake Shack from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Shake Shack currently has an average rating of “Hold” and a consensus price target of $116.52.

Insider Transactions at Shake Shack

In related news, insider Stephanie Ann Sentell sold 1,100 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $85.14, for a total value of $93,654.00. Following the transaction, the insider owned 9,907 shares in the company, valued at $843,481.98. The trade was a 9.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 1,500 shares of company stock valued at $130,648. Insiders own 8.50% of the company’s stock.

Shake Shack Trading Down 0.9%

Shake Shack stock opened at $88.14 on Friday. Shake Shack, Inc. has a 12 month low of $72.93 and a 12 month high of $144.65. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 86.41, a price-to-earnings-growth ratio of 2.70 and a beta of 1.75. The business’s fifty day simple moving average is $88.90 and its two-hundred day simple moving average is $94.27. The company has a current ratio of 1.84, a quick ratio of 1.81 and a debt-to-equity ratio of 0.46.

Shake Shack Company Profile

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.