Shake Shack, Inc. (NYSE:SHAK) Position Boosted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its stake in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,045 shares of the company's stock after purchasing an additional 4,450 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.06% of Shake Shack worth $2,208,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Alta Wealth Advisors LLC purchased a new stake in shares of Shake Shack during the 1st quarter worth about $231,000. Bessemer Group Inc. increased its stake in shares of Shake Shack by 60.7% during the 1st quarter. Bessemer Group Inc. now owns 5,874 shares of the company's stock worth $518,000 after purchasing an additional 2,218 shares during the last quarter. Spire Wealth Management raised its holdings in shares of Shake Shack by 881.2% during the 1st quarter. Spire Wealth Management now owns 1,982 shares of the company's stock valued at $175,000 after purchasing an additional 1,780 shares in the last quarter. Cooper Investors PTY Ltd. acquired a new stake in shares of Shake Shack in the 1st quarter valued at $44,000. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Shake Shack by 157.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,957 shares of the company's stock worth $525,000 after purchasing an additional 3,642 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company's stock.

Shake Shack Trading Up 0.3%

Shares of NYSE SHAK opened at $138.83 on Monday. Shake Shack, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $140.97. The firm has a market capitalization of $5.92 billion, a P/E ratio of 495.84, a P/E/G ratio of 3.27 and a beta of 1.77. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.91 and a quick ratio of 1.88. The company's 50 day simple moving average is $115.47 and its 200 day simple moving average is $110.48.

Shake Shack (NYSE:SHAK - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $320.90 million during the quarter, compared to the consensus estimate of $330.24 million. Shake Shack had a return on equity of 8.45% and a net margin of 0.97%. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 earnings per share. On average, analysts predict that Shake Shack, Inc. will post 1.26 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Truist Financial upped their price target on Shake Shack from $134.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. BTIG Research downgraded shares of Shake Shack from a "buy" rating to a "neutral" rating in a report on Monday, June 2nd. Oppenheimer reiterated an "outperform" rating and issued a $160.00 price objective (up from $125.00) on shares of Shake Shack in a research note on Thursday. Stifel Nicolaus cut their price target on Shake Shack from $120.00 to $97.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. Finally, TD Cowen lowered shares of Shake Shack from a "buy" rating to a "hold" rating and set a $105.00 target price on the stock. in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $123.95.

Insider Transactions at Shake Shack

In other news, Director Daniel Harris Meyer sold 10,000 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $130.26, for a total value of $1,302,600.00. Following the sale, the director now owns 386,636 shares of the company's stock, valued at $50,363,205.36. The trade was a 2.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Katherine Irene Fogertey sold 3,956 shares of Shake Shack stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $127.49, for a total transaction of $504,350.44. Following the completion of the sale, the chief financial officer now owns 35,750 shares in the company, valued at $4,557,767.50. The trade was a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,698 shares of company stock valued at $4,499,820 over the last 90 days. 9.73% of the stock is owned by company insiders.

Shake Shack 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.

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