Illinois Municipal Retirement Fund Acquires Shares of 22,848 Shake Shack, Inc. $SHAK

Illinois Municipal Retirement Fund bought a new position in shares of Shake Shack, Inc. (NYSE:SHAK) during the third quarter, according to its most recent filing with the SEC. The fund bought 22,848 shares of the company’s stock, valued at approximately $2,139,000. Illinois Municipal Retirement Fund owned 0.05% of Shake Shack at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its holdings in Shake Shack by 1.1% during the second quarter. State Street Corp now owns 1,470,084 shares of the company’s stock worth $206,694,000 after buying an additional 15,607 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Shake Shack by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 914,533 shares of the company’s stock worth $128,600,000 after purchasing an additional 13,932 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Shake Shack by 9.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 864,839 shares of the company’s stock worth $121,602,000 after purchasing an additional 72,982 shares during the period. Holocene Advisors LP bought a new stake in shares of Shake Shack in the 2nd quarter worth approximately $115,432,000. Finally, Van Berkom & Associates Inc. lifted its stake in Shake Shack by 14.8% in the third quarter. Van Berkom & Associates Inc. now owns 723,660 shares of the company’s stock valued at $67,742,000 after purchasing an additional 93,553 shares during the last quarter. 86.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Shake Shack news, insider Stephanie Ann Sentell sold 1,100 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $85.14, for a total value of $93,654.00. Following the completion of the transaction, the insider directly owned 9,907 shares of the company’s stock, valued at $843,481.98. This trade represents a 9.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 1,500 shares of company stock worth $130,648. Corporate insiders own 8.50% of the company’s stock.

Shake Shack Trading Down 0.9%

Shares of Shake Shack stock opened at $88.14 on Tuesday. The company’s 50-day moving average price is $89.11 and its 200-day moving average price is $93.71. The company has a current ratio of 1.84, a quick ratio of 1.81 and a debt-to-equity ratio of 0.46. Shake Shack, Inc. has a 12-month low of $72.93 and a 12-month high of $144.65. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 86.41, a PEG ratio of 2.70 and a beta of 1.75.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SHAK shares. Truist Financial lowered Shake Shack from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Raymond James Financial set a $140.00 price objective on Shake Shack in a research note on Wednesday, January 21st. Piper Sandler cut their target price on shares of Shake Shack from $126.00 to $102.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. 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, Loop Capital upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and upped their price target for the company from $98.00 to $127.00 in a research note on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $116.52.

Shake Shack Company Profile

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.