Principal Financial Group Inc. Increases Position in Shake Shack Inc. (NYSE:SHAK)

Principal Financial Group Inc. grew its holdings in shares of Shake Shack Inc. (NYSE:SHAK) by 1.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 189,229 shares of the company’s stock after purchasing an additional 2,043 shares during the period. Principal Financial Group Inc.’s holdings in Shake Shack were worth $19,530,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Xponance Inc. lifted its stake in shares of Shake Shack by 4.5% in the second quarter. Xponance Inc. now owns 2,395 shares of the company’s stock worth $216,000 after buying an additional 103 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Shake Shack by 0.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company’s stock valued at $3,241,000 after purchasing an additional 139 shares during the last quarter. Brighton Jones LLC increased its holdings in shares of Shake Shack by 1.1% in the 2nd quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock worth $1,612,000 after purchasing an additional 187 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Shake Shack by 1.9% in the second quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock worth $945,000 after purchasing an additional 196 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Shake Shack by 1.5% during the third quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock valued at $1,372,000 after purchasing an additional 199 shares in the last quarter. 86.07% of the stock is owned by institutional investors.

Shake Shack Stock Up 0.3 %

Shares of SHAK opened at $132.44 on Friday. The business’s 50 day moving average is $125.78 and its 200 day moving average is $106.89. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. Shake Shack Inc. has a 12-month low of $64.16 and a 12-month high of $139.89. The company has a market capitalization of $5.63 billion, a PE ratio of 779.06, a price-to-earnings-growth ratio of 2.83 and a beta of 1.85.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. The firm had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 earnings per share. Research analysts expect that Shake Shack Inc. will post 0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the transaction, the chief financial officer now directly owns 36,180 shares of the company’s stock, valued at $3,760,187.40. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $110.08, for a total transaction of $1,100,800.00. Following the completion of the sale, the director now owns 460,337 shares in the company, valued at approximately $50,673,896.96. This trade represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,654 shares of company stock valued at $7,700,492 in the last 90 days. Insiders own 9.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SHAK shares. TD Cowen reissued a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a research report on Wednesday, September 18th. JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Truist Financial lifted their target price on shares of Shake Shack from $144.00 to $147.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Oppenheimer increased their price target on Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Finally, Barclays lifted their price objective on Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Shake Shack currently has a consensus rating of “Hold” and an average target price of $115.56.

Shake Shack Company 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.