Shake Shack, Inc. $SHAK Stock Position Reduced by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its stake in Shake Shack, Inc. (NYSE:SHAK) by 51.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,786 shares of the company’s stock after selling 6,035 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Shake Shack were worth $542,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. acquired a new stake in Shake Shack during the second quarter valued at $222,000. Nordea Investment Management AB raised its stake in shares of Shake Shack by 36.6% during the 3rd quarter. Nordea Investment Management AB now owns 106,317 shares of the company’s stock worth $9,851,000 after purchasing an additional 28,487 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Shake Shack by 30.4% during the 2nd quarter. Fisher Asset Management LLC now owns 514,770 shares of the company’s stock valued at $72,377,000 after buying an additional 120,030 shares during the last quarter. Divisadero Street Capital Management LP acquired a new stake in shares of Shake Shack during the 2nd quarter valued at about $1,578,000. Finally, Waratah Capital Advisors Ltd. bought a new stake in shares of Shake Shack in the 2nd quarter valued at approximately $1,552,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Bank of America reaffirmed an “underperform” rating and set a $86.00 price objective (down previously from $148.00) on shares of Shake Shack in a research report on Monday, October 6th. Wells Fargo & Company cut their price target on shares of Shake Shack from $100.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Robert W. Baird reduced their price objective on shares of Shake Shack from $127.00 to $104.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Shake Shack in a research report on Wednesday. Finally, Stifel Nicolaus cut their target price on Shake Shack from $110.00 to $105.00 and set a “hold” rating on the stock in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $116.52.

Shake Shack Price Performance

NYSE SHAK opened at $92.40 on Friday. Shake Shack, Inc. has a 1 year low of $72.93 and a 1 year high of $144.65. The company has a fifty day simple moving average of $86.83 and a 200 day simple moving average of $99.62. The company has a current ratio of 1.84, a quick ratio of 1.81 and a debt-to-equity ratio of 0.46. The company has a market cap of $3.94 billion, a P/E ratio of 90.59, a P/E/G ratio of 2.42 and a beta of 1.68.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The company had revenue of $367.41 million during the quarter, compared to analysts’ expectations of $363.69 million. Shake Shack had a net margin of 3.10% and a return on equity of 10.43%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 earnings per share. On average, sell-side analysts predict that Shake Shack, Inc. will post 1.26 EPS for the current year.

Insiders Place Their Bets

In other Shake Shack news, insider Stephanie Ann Sentell sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $85.14, for a total value of $93,654.00. Following the sale, the insider owned 9,907 shares of the company’s stock, valued at $843,481.98. This trade represents a 9.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 1,500 shares of company stock worth $130,648. 8.50% of the stock is owned by corporate insiders.

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.