Shake Shack, Inc. (NYSE:SHAK) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in Shake Shack, Inc. (NYSE:SHAK - Free Report) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,709 shares of the company's stock after purchasing an additional 4,552 shares during the period. Principal Financial Group Inc. owned 0.47% of Shake Shack worth $17,608,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its position in Shake Shack by 939.3% during the first quarter. Farther Finance Advisors LLC now owns 291 shares of the company's stock valued at $26,000 after acquiring an additional 263 shares in the last quarter. Nemes Rush Group LLC purchased a new position in shares of Shake Shack during the 4th quarter valued at approximately $29,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Shake Shack during the 4th quarter valued at approximately $32,000. Garde Capital Inc. acquired a new position in shares of Shake Shack in the 1st quarter valued at $35,000. Finally, Princeton Global Asset Management LLC purchased a new stake in Shake Shack during the first quarter worth $44,000. Hedge funds and other institutional investors own 86.07% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SHAK. BTIG Research lowered shares of Shake Shack from a "buy" rating to a "neutral" rating in a report on Monday, June 2nd. The Goldman Sachs Group lifted their target price on shares of Shake Shack from $120.00 to $145.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. TD Securities restated a "hold" rating and set a $105.00 price target on shares of Shake Shack in a research report on Thursday, June 26th. JPMorgan Chase & Co. raised their price target on shares of Shake Shack from $100.00 to $110.00 and gave the company an "underweight" rating in a research note on Wednesday, June 25th. Finally, Stifel Nicolaus lowered their price objective on Shake Shack from $120.00 to $97.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Shake Shack has a consensus rating of "Hold" and an average target price of $124.90.

Shake Shack Price Performance

SHAK opened at $142.02 on Friday. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 507.23, a price-to-earnings-growth ratio of 3.33 and a beta of 1.77. Shake Shack, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $144.65. The company has a quick ratio of 1.88, a current ratio of 1.91 and a debt-to-equity ratio of 0.50. The company's 50-day moving average price is $124.93 and its 200 day moving average price is $111.43.

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

Insiders Place Their Bets

In other Shake Shack news, Director Daniel Harris Meyer sold 14,200 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $140.31, for a total transaction of $1,992,402.00. Following the transaction, the director directly owned 337,984 shares in the company, valued at $47,422,535.04. This trade represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Katherine Irene Fogertey sold 670 shares of Shake Shack stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $140.03, for a total transaction of $93,820.10. Following the completion of the transaction, the chief financial officer owned 32,495 shares in the company, valued at $4,550,274.85. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,391 shares of company stock valued at $11,869,925 in the last 90 days. Corporate insiders own 9.73% of the company's stock.

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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