Arizona State Retirement System Acquires 400 Shares of Shake Shack, Inc. (SHAK)

Arizona State Retirement System grew its holdings in Shake Shack, Inc. (NYSE:SHAK) by 4.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,700 shares of the company’s stock after purchasing an additional 400 shares during the period. Arizona State Retirement System’s holdings in Shake Shack were worth $338,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Municipal Employees Retirement System of Michigan increased its holdings in Shake Shack by 6.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 4,380 shares of the company’s stock worth $153,000 after buying an additional 280 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Shake Shack by 4.1% during the second quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the company’s stock worth $265,000 after buying an additional 300 shares during the last quarter. Texas Permanent School Fund increased its holdings in Shake Shack by 4.2% during the second quarter. Texas Permanent School Fund now owns 13,540 shares of the company’s stock worth $472,000 after buying an additional 549 shares during the last quarter. American International Group Inc. increased its holdings in Shake Shack by 7.1% during the first quarter. American International Group Inc. now owns 9,667 shares of the company’s stock worth $323,000 after buying an additional 637 shares during the last quarter. Finally, Creative Planning increased its holdings in Shake Shack by 5.8% during the second quarter. Creative Planning now owns 11,935 shares of the company’s stock worth $416,000 after buying an additional 650 shares during the last quarter. Institutional investors own 97.46% of the company’s stock.

In other Shake Shack news, CEO Randall J. Garutti sold 16,000 shares of Shake Shack stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $35.86, for a total value of $573,760.00. Following the transaction, the chief executive officer now directly owns 26,961 shares of the company’s stock, valued at approximately $966,821.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Peggy Rubenzer sold 7,000 shares of Shake Shack stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $32.17, for a total value of $225,190.00. Following the completion of the transaction, the senior vice president now directly owns 24,415 shares in the company, valued at $785,430.55. The disclosure for this sale can be found here. Insiders sold a total of 112,783 shares of company stock worth $3,666,068 over the last ninety days. Insiders own 34.91% of the company’s stock.

SHAK has been the topic of several research reports. Cowen and Company decreased their price objective on shares of Shake Shack from $37.00 to $35.00 and set a “market perform” rating on the stock in a report on Monday, May 15th. Wedbush reiterated a “hold” rating and issued a $33.00 price objective on shares of Shake Shack in a report on Monday, May 15th. ValuEngine upgraded shares of Shake Shack from a “sell” rating to a “hold” rating in a report on Friday, May 19th. Piper Jaffray Companies initiated coverage on shares of Shake Shack in a report on Wednesday, May 24th. They issued an “overweight” rating and a $44.00 price objective on the stock. Finally, Vetr downgraded shares of Shake Shack from a “strong-buy” rating to a “buy” rating and set a $42.33 price objective on the stock. in a report on Wednesday, June 7th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Shake Shack currently has an average rating of “Hold” and an average target price of $37.60.

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Shake Shack, Inc. (NYSE SHAK) opened at 30.89 on Monday. The firm has a market cap of $802.55 million, a P/E ratio of 53.82 and a beta of 1.30. The stock has a 50 day moving average price of $32.15 and a 200 day moving average price of $34.27. Shake Shack, Inc. has a 1-year low of $30.12 and a 1-year high of $39.70.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, August 3rd. The company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.04. The company had revenue of $91.30 million during the quarter, compared to the consensus estimate of $89 million. Shake Shack had a return on equity of 8.71% and a net margin of 4.70%. Shake Shack’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. On average, analysts anticipate that Shake Shack, Inc. will post $0.52 EPS for the current year.

Shake Shack Company Profile

Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.

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Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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