Public Sector Pension Investment Board Acquires 19,889 Shares of Shake Shack, Inc. $SHAK

Public Sector Pension Investment Board raised its holdings in Shake Shack, Inc. (NYSE:SHAK) by 14.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,998 shares of the company’s stock after acquiring an additional 19,889 shares during the period. Public Sector Pension Investment Board owned approximately 0.37% of Shake Shack worth $14,697,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB increased its position in shares of Shake Shack by 36.6% during the 3rd quarter. Nordea Investment Management AB now owns 106,317 shares of the company’s stock valued at $9,851,000 after purchasing an additional 28,487 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Shake Shack in the 2nd quarter worth approximately $222,000. Fisher Asset Management LLC lifted its position in Shake Shack by 30.4% in the 2nd quarter. Fisher Asset Management LLC now owns 514,770 shares of the company’s stock worth $72,377,000 after buying an additional 120,030 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Shake Shack in the third quarter worth approximately $8,416,000. Finally, Waratah Capital Advisors Ltd. bought a new position in Shake Shack during the second quarter valued at approximately $1,552,000. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Trading Down 0.9%

Shares of SHAK opened at $88.14 on Friday. The stock has a market capitalization of $3.76 billion, a P/E ratio of 86.41, a PEG ratio of 2.70 and a beta of 1.75. Shake Shack, Inc. has a twelve month low of $72.93 and a twelve month high of $144.65. The company has a quick ratio of 1.81, a current ratio of 1.84 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $88.90 and a two-hundred day simple moving average of $94.27.

Wall Street Analysts Forecast Growth

SHAK has been the subject of a number of recent research reports. Robert W. Baird lowered their price objective on shares of Shake Shack from $127.00 to $104.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Mizuho upgraded shares of Shake Shack to a “hold” rating in a research report on Tuesday, October 28th. Morgan Stanley raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $115.00 to $125.00 in a research note on Tuesday, January 20th. Zacks Research lowered shares of Shake Shack from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. Finally, JPMorgan Chase & Co. raised Shake Shack from an “underweight” rating to a “neutral” rating and reduced their price objective for the company from $95.00 to $90.00 in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Shake Shack presently has a consensus rating of “Hold” and an average target price of $116.52.

Insider Transactions at Shake Shack

In other Shake Shack news, insider Stephanie Ann Sentell sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $85.14, for a total transaction of $93,654.00. Following the completion of the transaction, the insider owned 9,907 shares of the company’s stock, valued at $843,481.98. This represents a 9.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders sold 1,500 shares of company stock worth $130,648. 8.50% of the stock is owned by insiders.

About Shake Shack

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.