Louisiana State Employees Retirement System grew its position in Shake Shack Inc (NYSE:SHAK) by 29.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,300 shares of the company’s stock after buying an additional 2,600 shares during the period. Louisiana State Employees Retirement System’s holdings in Shake Shack were worth $712,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group acquired a new stake in Shake Shack in the 2nd quarter worth approximately $124,000. Advisors Asset Management Inc. boosted its stake in Shake Shack by 50.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,202 shares of the company’s stock worth $212,000 after purchasing an additional 1,077 shares in the last quarter. HM Payson & Co. acquired a new stake in Shake Shack in the 2nd quarter worth approximately $249,000. Pinebridge Investments L.P. acquired a new stake in Shake Shack in the 2nd quarter worth approximately $250,000. Finally, Amalgamated Bank acquired a new stake in Shake Shack in the 2nd quarter worth approximately $261,000. Institutional investors and hedge funds own 87.46% of the company’s stock.

SHAK stock opened at $54.62 on Friday. The company has a market capitalization of $2.24 billion, a P/E ratio of 95.82, a P/E/G ratio of 4.41 and a beta of 1.21. Shake Shack Inc has a 52 week low of $34.44 and a 52 week high of $70.12.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.18 by $0.11. Shake Shack had a net margin of 0.42% and a return on equity of 10.39%. The business had revenue of $116.30 million during the quarter, compared to analysts’ expectations of $110.70 million. During the same period in the previous year, the business posted $0.20 EPS. The business’s quarterly revenue was up 27.4% compared to the same quarter last year. Analysts anticipate that Shake Shack Inc will post 0.61 earnings per share for the current fiscal year.

In other Shake Shack news, Director Jonathan D. Sokoloff sold 500,000 shares of Shake Shack stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $57.15, for a total transaction of $28,575,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Equity Group L.P. Select sold 3,550 shares of Shake Shack stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $61.30, for a total transaction of $217,615.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,302,520 shares of company stock valued at $76,491,918. Company insiders own 30.18% of the company’s stock.

SHAK has been the subject of a number of recent analyst reports. Stifel Nicolaus initiated coverage on shares of Shake Shack in a research note on Tuesday, October 9th. They issued a “hold” rating and a $65.00 target price for the company. Zacks Investment Research cut shares of Shake Shack from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 4th. Cowen reiterated a “hold” rating and issued a $59.00 target price on shares of Shake Shack in a research note on Wednesday, July 25th. Wedbush reiterated a “hold” rating and issued a $62.00 target price on shares of Shake Shack in a research note on Friday, August 3rd. Finally, Morgan Stanley lifted their target price on shares of Shake Shack from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. Shake Shack currently has an average rating of “Hold” and a consensus price target of $54.20.

Shake Shack Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of October 9, 2018, it operated 180 locations in 26 U.S.

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Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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