Illinois Municipal Retirement Fund Increases Stock Position in Shake Shack Inc. (NYSE:SHAK)

Illinois Municipal Retirement Fund boosted its holdings in Shake Shack Inc. (NYSE:SHAK) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,595 shares of the company’s stock after acquiring an additional 1,055 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Shake Shack were worth $2,673,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its holdings in shares of Shake Shack by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the company’s stock valued at $2,518,000 after purchasing an additional 100 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Shake Shack by 0.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company’s stock worth $3,241,000 after buying an additional 139 shares during the last quarter. Glenmede Trust Co. NA raised its position in Shake Shack by 1.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock worth $1,372,000 after buying an additional 199 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Shake Shack by 0.5% during the 4th quarter. New York State Teachers Retirement System now owns 39,225 shares of the company’s stock valued at $5,091,000 after acquiring an additional 200 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Shake Shack by 41.6% during the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after acquiring an additional 205 shares during the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Shake Shack from $143.00 to $154.00 and gave the company a “buy” rating in a report on Friday, February 21st. Stifel Nicolaus decreased their target price on shares of Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a research note on Friday, January 17th. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $125.00 to $159.00 in a research note on Tuesday, January 7th. TD Securities reiterated a “buy” rating and set a $140.00 price objective on shares of Shake Shack in a research report on Friday, February 21st. Finally, UBS Group increased their target price on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $125.50.

Insider Transactions at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total transaction of $88,281.42. Following the sale, the chief financial officer now owns 30,717 shares in the company, valued at $4,223,894.67. This trade represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 9.73% of the company’s stock.

Shake Shack Stock Performance

SHAK opened at $106.81 on Friday. The company has a 50 day simple moving average of $120.33 and a two-hundred day simple moving average of $116.57. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98. The firm has a market cap of $4.54 billion, a P/E ratio of 464.40 and a beta of 1.86. Shake Shack Inc. has a 1-year low of $77.50 and a 1-year high of $139.89.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, February 20th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.01. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The company had revenue of $328.68 million during the quarter, compared to the consensus estimate of $329.02 million. Equities analysts forecast that Shake Shack Inc. will post 1.26 earnings per share for the current fiscal year.

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.