Public Sector Pension Investment Board Has $11.19 Million Stock Position in Shake Shack, Inc. (NYSE:SHAK)

Key Points

• The Public Sector Pension Investment Board increased its holdings in Shake Shack by 26.7% during the first quarter, purchasing an additional 26,777 shares to bring its total to 126,940 shares valued at approximately $11.2 million.
• Multiple large investors, including Cambridge Investment Research Advisors and GAMMA Investing, have significantly increased their stakes in Shake Shack, with institutional investors collectively owning 86.07% of the stock.
• Shake Shack's latest earnings report revealed a 12.6% increase in revenue year-over-year, and the company beat estimates by reporting $0.44 EPS, surpassing analysts' expectations of $0.37 EPS.

Public Sector Pension Investment Board raised its stake in Shake Shack, Inc. (NYSE:SHAK - Free Report) by 26.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 126,940 shares of the company's stock after buying an additional 26,777 shares during the quarter. Public Sector Pension Investment Board owned 0.30% of Shake Shack worth $11,192,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SHAK. Envestnet Asset Management Inc. lifted its stake in Shake Shack by 8.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,289 shares of the company's stock valued at $1,336,000 after buying an additional 790 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of Shake Shack by 5.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,978 shares of the company's stock worth $516,000 after acquiring an additional 209 shares in the last quarter. Montag & Caldwell LLC bought a new stake in shares of Shake Shack in the fourth quarter worth about $68,000. NewEdge Advisors LLC increased its holdings in shares of Shake Shack by 1,136.5% in the fourth quarter. NewEdge Advisors LLC now owns 2,065 shares of the company's stock worth $268,000 after acquiring an additional 1,898 shares in the last quarter. Finally, Wasatch Advisors LP increased its holdings in shares of Shake Shack by 1.8% in the fourth quarter. Wasatch Advisors LP now owns 566,425 shares of the company's stock worth $73,522,000 after acquiring an additional 10,147 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company's stock.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 14,200 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $140.31, for a total value of $1,992,402.00. Following the transaction, the director directly owned 337,984 shares of the company's stock, valued at $47,422,535.04. The trade was a 4.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Katherine Irene Fogertey sold 670 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $140.03, for a total value of $93,820.10. Following the transaction, the chief financial officer directly owned 32,495 shares in the company, valued at approximately $4,550,274.85. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 87,211 shares of company stock worth $11,849,216 in the last 90 days. 8.50% of the stock is currently owned by corporate insiders.

Shake Shack Stock Performance

NYSE:SHAK traded down $2.48 during mid-day trading on Thursday, hitting $105.63. 1,344,129 shares of the stock were exchanged, compared to its average volume of 1,825,042. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 229.64, a price-to-earnings-growth ratio of 2.46 and a beta of 1.82. The firm's 50-day simple moving average is $129.73 and its 200 day simple moving average is $111.39. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.89 and a current ratio of 1.92. Shake Shack, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $144.65.

Shake Shack (NYSE:SHAK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.07. The business had revenue of $356.47 million during the quarter, compared to analysts' expectations of $352.56 million. Shake Shack had a return on equity of 9.78% and a net margin of 1.50%. The firm's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $0.27 EPS. As a group, equities analysts anticipate that Shake Shack, Inc. will post 1.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on SHAK. Barclays lowered their price target on Shake Shack from $168.00 to $160.00 and set an "overweight" rating for the company in a report on Friday, August 1st. TD Securities restated a "hold" rating and issued a $105.00 price target on shares of Shake Shack in a report on Thursday, June 26th. Truist Financial lifted their target price on Shake Shack from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. KeyCorp began coverage on Shake Shack in a research report on Monday, June 2nd. They issued a "sector weight" rating on the stock. Finally, Oppenheimer reissued an "outperform" rating and issued a $160.00 target price (up previously from $125.00) on shares of Shake Shack in a research report on Thursday, June 26th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Shake Shack presently has a consensus rating of "Hold" and an average price target of $131.29.

Shake Shack Company Profile

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.