Healthcare of Ontario Pension Plan Trust Fund Invests $19.77 Million in Shake Shack, Inc. $SHAK

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 223,507 Shake Shack shares worth approximately $19.77 million, representing a 0.52% stake. Institutional investors collectively own 86.07% of the company.
• Shake Shack insiders have shown buying activity, with executives and directors purchasing 50,616 shares worth $3.11 million over the past three months; insiders own 8.32% of the stock.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $89.39. Several firms recently cut their targets, while the stock was trading at $61.71, up 8.1%.

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 223,507 shares of the company's stock, valued at approximately $19,774,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.52% of Shake Shack at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Swedbank AB purchased a new stake in Shake Shack in the 4th quarter worth $84,092,000. Adage Capital Partners GP L.L.C. bought a new stake in Shake Shack during the fourth quarter valued at about $40,829,000. Wellington Management Group LLP lifted its position in shares of Shake Shack by 21.0% in the third quarter. Wellington Management Group LLP now owns 2,590,911 shares of the company's stock valued at $242,535,000 after acquiring an additional 450,406 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Shake Shack by 285.2% in the third quarter. Marshall Wace LLP now owns 586,999 shares of the company's stock worth $54,949,000 after acquiring an additional 434,625 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Shake Shack in the fourth quarter worth about $20,455,000. Hedge funds and other institutional investors own 86.07% of the company's stock.

Insider Buying and Selling at Shake Shack

In other news, Director Sumaiya Balbale purchased 4,068 shares of the business's stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $61.42 per share, for a total transaction of $249,856.56. Following the acquisition, the director directly owned 13,407 shares of the company's stock, valued at $823,457.94. This represents a 43.56% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Lynch acquired 5,000 shares of Shake Shack stock in a transaction on Friday, May 15th. The stock was purchased at an average cost of $60.39 per share, for a total transaction of $301,950.00. Following the purchase, the chief executive officer owned 77,845 shares in the company, valued at approximately $4,701,059.55. The trade was a 6.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 50,616 shares of company stock worth $3,109,782 over the last three months. 8.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Raymond James Financial cut Shake Shack from a "strong-buy" rating to an "outperform" rating and cut their target price for the stock from $125.00 to $85.00 in a research report on Wednesday, June 3rd. Barclays dropped their price target on Shake Shack from $118.00 to $96.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Weiss Ratings cut shares of Shake Shack from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, June 8th. Guggenheim lowered their target price on shares of Shake Shack from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, May 11th. Finally, Bank of America raised shares of Shake Shack from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $88.00 to $101.00 in a report on Tuesday, March 31st. Fifteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $89.39.

Shake Shack Trading Up 8.1%

Shares of SHAK stock opened at $61.71 on Tuesday. The company has a current ratio of 1.69, a quick ratio of 1.66 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 62.97, a price-to-earnings-growth ratio of 4.41 and a beta of 1.63. Shake Shack, Inc. has a 12-month low of $51.60 and a 12-month high of $142.20. The stock's 50-day moving average price is $58.04 and its 200-day moving average price is $79.74.

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.

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