Principal Financial Group Inc. Has $16.85 Million Position in Shake Shack Inc. (NYSE:SHAK)

Principal Financial Group Inc. lowered its position in Shake Shack Inc. (NYSE:SHAK) by 27.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,186 shares of the company’s stock after selling 69,943 shares during the period. Principal Financial Group Inc. owned about 0.44% of Shake Shack worth $16,847,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Shake Shack by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 309,641 shares of the company’s stock valued at $22,951,000 after purchasing an additional 12,362 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Shake Shack by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 300,539 shares of the company’s stock worth $27,048,000 after acquiring an additional 4,201 shares during the last quarter. Norges Bank acquired a new stake in Shake Shack during the 4th quarter worth approximately $12,238,000. Jennison Associates LLC acquired a new stake in shares of Shake Shack during the first quarter worth $16,365,000. Finally, Armistice Capital LLC bought a new stake in Shake Shack in the 4th quarter valued at about $11,213,000. 86.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SHAK shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $115.00 target price on shares of Shake Shack in a research report on Wednesday, August 28th. JPMorgan Chase & Co. upped their price objective on Shake Shack from $102.00 to $105.00 and gave the company an “underweight” rating in a research note on Monday, June 3rd. TD Cowen reaffirmed a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research report on Thursday, August 1st. The Goldman Sachs Group raised their price target on shares of Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Bank of America boosted their price objective on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $106.37.

Shake Shack Stock Performance

Shares of Shake Shack stock opened at $99.21 on Thursday. Shake Shack Inc. has a 52 week low of $52.79 and a 52 week high of $111.29. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average price of $93.81 and a 200-day moving average price of $97.45. The company has a market cap of $4.21 billion, a PE ratio of 180.39, a price-to-earnings-growth ratio of 2.95 and a beta of 1.83.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The business had revenue of $316.50 million during the quarter, compared to the consensus estimate of $314.37 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. Shake Shack’s revenue was up 16.4% compared to the same quarter last year. Equities analysts anticipate that Shake Shack Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Katherine Irene Fogertey sold 963 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $96.03, for a total transaction of $92,476.89. Following the transaction, the chief financial officer now directly owns 37,464 shares in the company, valued at $3,597,667.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $90.39, for a total value of $27,478.56. Following the completion of the transaction, the director now owns 3,347 shares in the company, valued at approximately $302,535.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Katherine Irene Fogertey sold 963 shares of Shake Shack stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $96.03, for a total value of $92,476.89. Following the sale, the chief financial officer now owns 37,464 shares in the company, valued at $3,597,667.92. The disclosure for this sale can be found here. Insiders sold a total of 11,892 shares of company stock worth $1,279,534 over the last quarter. Insiders own 9.73% of the company’s stock.

Shake Shack 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.