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State of New Jersey Common Pension Fund D Has $2.81 Million…

State of New Jersey Common Pension Fund D reduced its holdings in shares of Shake Shack Inc. (NYSE:SHAK – Free Report) by 9.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,207 shares of the company’s stock after selling 3,943 shares during the period. State of New Jersey Common Pension Fund D owned about 0.09% of Shake Shack worth $2,814,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SHAK. Vanguard Group Inc. boosted its holdings in Shake Shack by 1.2% during the first quarter. Vanguard Group Inc. now owns 4,071,207 shares of the company’s stock valued at $276,435,000 after purchasing an additional 48,614 shares in the last quarter. Champlain Investment Partners LLC grew its position in Shake Shack by 44.3% in the first quarter. Champlain Investment Partners LLC now owns 1,289,965 shares of the company’s stock valued at $71,580,000 after acquiring an additional 395,760 shares during the period. State Street Corp raised its stake in Shake Shack by 0.6% during the first quarter. State Street Corp now owns 1,287,829 shares of the company’s stock worth $71,459,000 after acquiring an additional 8,103 shares in the last quarter. Geode Capital Management LLC raised its stake in Shake Shack by 4.5% during the first quarter. Geode Capital Management LLC now owns 692,530 shares of the company’s stock worth $38,429,000 after acquiring an additional 30,086 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Shake Shack by 5.9% during the first quarter. Dimensional Fund Advisors LP now owns 681,236 shares of the company’s stock valued at $37,801,000 after acquiring an additional 37,782 shares during the period. Institutional investors own 91.70% of the company’s stock.

Shake Shack Trading Down 1.8 %

Shares of NYSE:SHAK opened at $55.05 on Friday. The company has a current ratio of 2.19, a quick ratio of 2.16 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $61.37 and a 200-day moving average of $66.59. Shake Shack Inc. has a one year low of $40.83 and a one year high of $80.58.

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Shake Shack (NYSE:SHAK – Get Free Report) last released its earnings results on Thursday, August 3rd. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.09. The firm had revenue of $271.80 million during the quarter, compared to analyst estimates of $274.55 million. Shake Shack had a negative net margin of 0.74% and a positive return on equity of 0.64%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Shake Shack Inc. will post 0.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SHAK shares. Raymond James dropped their target price on shares of Shake Shack from $87.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, October 18th. Truist Financial raised their price objective on shares of Shake Shack from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Northcoast Research raised Shake Shack from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Friday, September 15th. Morgan Stanley dropped their price target on Shake Shack from $70.00 to $64.00 and set an “equal weight” rating for the company in a report on Wednesday, October 11th. Finally, Wedbush reissued a “neutral” rating and issued a $73.00 price objective on shares of Shake Shack in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $71.94.

View Our Latest Stock Report on SHAK

Insider Buying and Selling

In other Shake Shack news, Director Jeffrey Flug sold 1,987 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $69.86, for a total transaction of $138,811.82. Following the transaction, the director now owns 6,511 shares in the company, valued at $454,858.46. The sale was disclosed in a document filed with the SEC, which is available through this link. 10.06% of the stock is owned by insiders.

About Shake Shack

(Free Report)

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.

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

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