Shake Shack Inc. (NYSE:SHAK) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its holdings in Shake Shack Inc. (NYSE:SHAK) by 11.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,370 shares of the company’s stock after buying an additional 4,163 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Shake Shack were worth $2,992,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SHAK. 12 West Capital Management LP raised its stake in Shake Shack by 82.2% in the third quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company’s stock valued at $96,373,000 after buying an additional 748,789 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in Shake Shack by 130.0% in the third quarter. Qube Research & Technologies Ltd now owns 436,888 shares of the company’s stock valued at $25,370,000 after buying an additional 246,952 shares in the last quarter. Van Berkom & Associates Inc. raised its stake in Shake Shack by 19.3% in the third quarter. Van Berkom & Associates Inc. now owns 1,046,339 shares of the company’s stock valued at $60,761,000 after buying an additional 168,947 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in Shake Shack in the third quarter valued at $5,223,000. Finally, Campbell & CO Investment Adviser LLC raised its stake in Shake Shack by 1,816.5% in the third quarter. Campbell & CO Investment Adviser LLC now owns 80,339 shares of the company’s stock valued at $4,665,000 after buying an additional 76,147 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SHAK has been the topic of a number of research analyst reports. BTIG Research lifted their target price on Shake Shack from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Raymond James lifted their target price on Shake Shack from $90.00 to $115.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 16th. Wedbush reiterated a “neutral” rating and set a $80.00 target price on shares of Shake Shack in a research report on Wednesday, February 14th. Robert W. Baird lifted their target price on Shake Shack from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. lifted their target price on Shake Shack from $65.00 to $100.00 and gave the stock an “underweight” rating in a research report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $88.67.

Shake Shack Price Performance

Shares of SHAK opened at $104.88 on Friday. Shake Shack Inc. has a twelve month low of $52.64 and a twelve month high of $110.90. The stock’s 50 day moving average is $101.55 and its two-hundred day moving average is $78.68. The firm has a market capitalization of $4.44 billion, a PE ratio of 228.00, a P/E/G ratio of 3.78 and a beta of 1.80. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.52.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.02 earnings per share for the quarter. Shake Shack had a return on equity of 3.67% and a net margin of 1.82%. The company had revenue of $286.20 million for the quarter, compared to analyst estimates of $280.45 million. During the same quarter in the previous year, the company earned ($0.06) EPS. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. Research analysts anticipate that Shake Shack Inc. will post 0.71 earnings per share for the current year.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $108.05, for a total value of $32,847.20. Following the sale, the director now owns 4,058 shares of the company’s stock, valued at approximately $438,466.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Daniel Harris Meyer sold 23,966 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the sale, the director now owns 526,471 shares of the company’s stock, valued at approximately $52,715,541.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $108.05, for a total value of $32,847.20. Following the sale, the director now directly owns 4,058 shares in the company, valued at approximately $438,466.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,912 shares of company stock valued at $10,201,834. 10.06% of the stock is owned by corporate insiders.

About Shake Shack

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.