State of New Jersey Common Pension Fund D Lowers Stock Position in Shake Shack Inc. (NYSE:SHAK)

State of New Jersey Common Pension Fund D decreased its position in Shake Shack Inc. (NYSE:SHAK) by 1.2% in the third quarter, Holdings Channel reports. The institutional investor owned 18,423 shares of the company’s stock after selling 221 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Shake Shack were worth $1,901,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Xponance Inc. grew its position in shares of Shake Shack by 4.5% during the 2nd quarter. Xponance Inc. now owns 2,395 shares of the company’s stock valued at $216,000 after acquiring an additional 103 shares during the period. Brighton Jones LLC increased its stake in shares of Shake Shack by 1.1% in the 2nd quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock valued at $1,612,000 after purchasing an additional 187 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Shake Shack by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock valued at $945,000 after purchasing an additional 196 shares in the last quarter. Covestor Ltd increased its stake in shares of Shake Shack by 41.6% in the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after purchasing an additional 205 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after purchasing an additional 207 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

Analyst Upgrades and Downgrades

SHAK has been the subject of several recent analyst reports. Robert W. Baird lifted their price target on Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. restated an “underweight” rating and issued a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. The Goldman Sachs Group lifted their price target on Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. TD Cowen reiterated a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a report on Wednesday, September 18th. Finally, Barclays lifted their price objective on Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $112.94.

Shake Shack Trading Down 2.0 %

SHAK opened at $121.53 on Monday. Shake Shack Inc. has a one year low of $59.51 and a one year high of $134.90. The stock has a market capitalization of $5.16 billion, a PE ratio of 714.88, a P/E/G ratio of 2.78 and a beta of 1.81. The business’s 50 day moving average price is $111.66 and its 200 day moving average price is $100.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The firm had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, equities research analysts expect that Shake Shack Inc. will post 0.82 EPS for the current year.

Insider Activity at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total value of $33,361.53. Following the sale, the chief financial officer now owns 36,180 shares of the company’s stock, valued at $3,760,187.40. The trade was a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $110.08, for a total value of $1,100,800.00. Following the completion of the sale, the director now directly owns 460,337 shares in the company, valued at approximately $50,673,896.96. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,433 shares of company stock worth $7,654,856. Insiders own 9.73% of the company’s stock.

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.