Shake Shack, Inc. $SHAK Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in Shake Shack, Inc. (NYSE:SHAK) by 20.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 194,515 shares of the company’s stock after selling 49,888 shares during the period. Principal Financial Group Inc.’s holdings in Shake Shack were worth $18,209,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC acquired a new stake in shares of Shake Shack in the second quarter valued at about $31,000. Geneos Wealth Management Inc. purchased a new stake in Shake Shack during the 1st quarter valued at about $26,000. Global Retirement Partners LLC grew its stake in Shake Shack by 83.7% during the 3rd quarter. Global Retirement Partners LLC now owns 327 shares of the company’s stock valued at $31,000 after acquiring an additional 149 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Shake Shack by 159.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 748 shares of the company’s stock valued at $105,000 after acquiring an additional 460 shares during the last quarter. Finally, Nkcfo LLC purchased a new position in Shake Shack in the 2nd quarter worth approximately $115,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

Insider Activity

In related news, insider Stephanie Ann Sentell sold 1,100 shares of the business’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 sale, the insider directly owned 9,907 shares in the company, valued at approximately $843,481.98. The trade was a 9.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 1,500 shares of company stock worth $130,648. 8.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on SHAK. Loop Capital upgraded Shake Shack from a “hold” rating to a “buy” rating and upped their price target for the company from $98.00 to $127.00 in a research report on Friday, November 14th. Morgan Stanley raised Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $115.00 to $125.00 in a research note on Tuesday, January 20th. Weiss Ratings restated a “hold (c)” rating on shares of Shake Shack in a report on Wednesday, January 21st. Wells Fargo & Company cut their target price on Shake Shack from $100.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Finally, Raymond James Financial set a $140.00 price target on shares of Shake Shack in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Shake Shack currently has a consensus rating of “Hold” and a consensus target price of $116.52.

Shake Shack Price Performance

SHAK stock opened at $98.16 on Monday. Shake Shack, Inc. has a 52-week low of $72.93 and a 52-week high of $144.65. The company has a quick ratio of 1.81, a current ratio of 1.84 and a debt-to-equity ratio of 0.46. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 96.24, a price-to-earnings-growth ratio of 3.01 and a beta of 1.75. The business has a fifty day moving average of $87.81 and a two-hundred day moving average of $95.49.

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.