State of New Jersey Common Pension Fund D Raises Stake in Shake Shack Inc. (NYSE:SHAK)

State of New Jersey Common Pension Fund D grew its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 11.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,370 shares of the company’s stock after purchasing an additional 4,163 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.10% of Shake Shack worth $2,992,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of Shake Shack during the fourth quarter valued at $32,000. Ramirez Asset Management Inc. purchased a new stake in Shake Shack in the third quarter worth about $35,000. C M Bidwell & Associates Ltd. lifted its stake in Shake Shack by 122.6% in the third quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock worth $65,000 after acquiring an additional 612 shares during the period. CWM LLC lifted its position in shares of Shake Shack by 37.4% during the third quarter. CWM LLC now owns 1,349 shares of the company’s stock valued at $78,000 after buying an additional 367 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in shares of Shake Shack during the third quarter valued at about $206,000. 86.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on SHAK shares. Raymond James increased their price target on shares of Shake Shack from $90.00 to $115.00 and gave the company a “strong-buy” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. increased their price target on shares of Shake Shack from $65.00 to $100.00 and gave the company an “underweight” rating in a research report on Monday, March 4th. BTIG Research increased their price target on shares of Shake Shack from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Oppenheimer increased their price target on shares of Shake Shack from $108.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Finally, TD Cowen restated a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $88.67.

Insider Transactions at Shake Shack

In other news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $108.05, for a total transaction 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 40,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $106.34, for a total transaction of $4,253,600.00. Following the sale, the director now owns 480,437 shares of the company’s stock, valued at approximately $51,089,670.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Flug sold 304 shares of the firm’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 transaction 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. Insiders have sold 100,912 shares of company stock valued at $10,201,834 in the last 90 days. 10.06% of the stock is currently owned by company insiders.

Shake Shack Price Performance

Shares of NYSE: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 company’s 50 day moving average is $101.55 and its 200 day moving average is $78.68. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.52. The company has a market cap of $4.44 billion, a PE ratio of 228.00, a price-to-earnings-growth ratio of 3.78 and a beta of 1.80.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.02 earnings per share for the quarter. Shake Shack had a net margin of 1.82% and a return on equity of 3.67%. The company had revenue of $286.20 million for the quarter, compared to the consensus estimate of $280.45 million. During the same quarter in the prior year, the company earned ($0.06) EPS. Shake Shack’s quarterly revenue was up 20.0% on a year-over-year basis. On average, sell-side analysts forecast that Shake Shack Inc. will post 0.71 EPS for the current 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.