Louisiana State Employees Retirement System Increases Stock Position in Shake Shack Inc. (NYSE:SHAK)

Louisiana State Employees Retirement System grew its position in Shake Shack Inc. (NYSE:SHAK) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 19,400 shares of the company’s stock after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Shake Shack were worth $2,518,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Shake Shack by 3.5% in the third quarter. State Street Corp now owns 1,452,736 shares of the company’s stock valued at $149,937,000 after purchasing an additional 49,324 shares during the last quarter. Holocene Advisors LP grew its position in Shake Shack by 68.3% during the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock valued at $97,673,000 after buying an additional 384,131 shares during the period. Geode Capital Management LLC grew its position in Shake Shack by 3.1% during the third quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock valued at $90,470,000 after buying an additional 26,620 shares during the period. Point72 Asset Management L.P. grew its position in Shake Shack by 154.8% during the third quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after buying an additional 395,311 shares during the period. Finally, Champlain Investment Partners LLC grew its position in Shake Shack by 4.7% during the third quarter. Champlain Investment Partners LLC now owns 614,747 shares of the company’s stock valued at $63,448,000 after buying an additional 27,707 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SHAK. Stifel Nicolaus reduced their price target on shares of Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a research report on Friday, January 17th. Gordon Haskett upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a research report on Wednesday, January 8th. Oppenheimer increased their price target on shares of Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. UBS Group increased their price target on shares of Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Finally, Truist Financial reduced their price target on shares of Shake Shack from $149.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $123.78.

Shake Shack Price Performance

SHAK stock opened at $109.15 on Friday. The firm has a 50 day moving average of $124.44 and a 200-day moving average of $115.40. 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 $76.30 and a 12 month high of $139.89. The firm has a market capitalization of $4.64 billion, a P/E ratio of 642.07 and a beta of 1.86.

Insider Activity

In related news, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total value of $88,281.42. Following the sale, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at $4,223,894.67. This trade represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 9.73% of the stock is owned by company insiders.

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.