Maryland State Retirement & Pension System Has $542,000 Holdings in Shake Shack, Inc. $SHAK

Maryland State Retirement & Pension System cut its stake in Shake Shack, Inc. (NYSE:SHAK) by 51.1% in the third quarter, Holdings Channel.com reports. The firm owned 5,786 shares of the company’s stock after selling 6,035 shares during the period. Maryland State Retirement & Pension System’s holdings in Shake Shack were worth $542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in SHAK. White Pine Capital LLC lifted its stake in shares of Shake Shack by 2.0% in the second quarter. White Pine Capital LLC now owns 4,981 shares of the company’s stock valued at $700,000 after buying an additional 100 shares during the period. Glenview Trust co increased its stake in Shake Shack by 1.5% during the second quarter. Glenview Trust co now owns 6,925 shares of the company’s stock valued at $974,000 after acquiring an additional 100 shares during the period. Wealthcare Advisory Partners LLC raised its holdings in Shake Shack by 0.8% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 13,512 shares of the company’s stock valued at $1,900,000 after acquiring an additional 106 shares in the last quarter. Keybank National Association OH lifted its position in shares of Shake Shack by 1.8% in the 2nd quarter. Keybank National Association OH now owns 6,079 shares of the company’s stock worth $855,000 after acquiring an additional 106 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Shake Shack by 3.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,972 shares of the company’s stock worth $558,000 after acquiring an additional 125 shares during the period. Institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Down 2.5%

Shares of NYSE SHAK opened at $92.40 on Friday. Shake Shack, Inc. has a 52-week low of $72.93 and a 52-week high of $144.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.81 and a current ratio of 1.84. The business has a fifty day moving average of $86.83 and a two-hundred day moving average of $99.62. The stock has a market cap of $3.94 billion, a PE ratio of 90.59, a PEG ratio of 2.42 and a beta of 1.68.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, October 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Shake Shack had a net margin of 3.10% and a return on equity of 10.43%. The business had revenue of $367.41 million during the quarter, compared to analysts’ expectations of $363.69 million. During the same quarter last year, the company posted $0.25 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities research analysts expect that Shake Shack, Inc. will post 1.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Shake Shack

In other news, insider Stephanie Ann Sentell sold 1,100 shares of Shake Shack stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $85.14, for a total value of $93,654.00. Following the completion of the transaction, the insider owned 9,907 shares in the company, valued at approximately $843,481.98. The trade was a 9.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 1,500 shares of company stock worth $130,648 over the last three months. Company insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SHAK. Mizuho upgraded Shake Shack to a “hold” rating in a research report on Tuesday, October 28th. Oppenheimer set a $145.00 price target on shares of Shake Shack in a report on Friday, October 31st. Loop Capital upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and increased their price objective for the company from $98.00 to $127.00 in a research note on Friday, November 14th. Piper Sandler decreased their target price on shares of Shake Shack from $126.00 to $102.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Finally, Wells Fargo & Company lowered their target price on shares of Shake Shack from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $116.52.

Shake Shack 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.