Texas Permanent School Fund Corp Boosts Holdings in Shake Shack Inc. (NYSE:SHAK)

Texas Permanent School Fund Corp raised its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 6.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,977 shares of the company’s stock after purchasing an additional 2,162 shares during the quarter. Texas Permanent School Fund Corp owned about 0.08% of Shake Shack worth $3,148,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in Shake Shack by 4.2% during the 4th 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 in the last quarter. Bank of New York Mellon Corp increased its stake in Shake Shack by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 300,539 shares of the company’s stock valued at $27,048,000 after purchasing an additional 4,201 shares in the last quarter. Principal Financial Group Inc. increased its stake in Shake Shack by 31.4% during the 4th quarter. Principal Financial Group Inc. now owns 263,256 shares of the company’s stock valued at $19,513,000 after purchasing an additional 62,897 shares in the last quarter. Norges Bank acquired a new position in Shake Shack during the 4th quarter valued at approximately $12,238,000. Finally, Jennison Associates LLC acquired a new position in Shake Shack during the 1st quarter valued at approximately $16,365,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Stock Performance

SHAK opened at $102.05 on Monday. 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 company has a market cap of $4.33 billion, a price-to-earnings ratio of 185.55, a PEG ratio of 3.02 and a beta of 1.83. Shake Shack Inc. has a 52-week low of $52.79 and a 52-week high of $111.29. The firm’s fifty day simple moving average is $95.35 and its two-hundred day simple moving average is $97.38.

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

Insider Transactions at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $98.57, for a total value of $31,640.97. Following the transaction, the chief financial officer now directly owns 36,822 shares of the company’s stock, valued at $3,629,544.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $98.57, for a total value of $31,640.97. Following the transaction, the chief financial officer now directly owns 36,822 shares of the company’s stock, valued at $3,629,544.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $90.39, for a total transaction of $27,478.56. Following the completion of the transaction, the director now directly owns 3,347 shares in the company, valued at $302,535.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,213 shares of company stock valued at $1,311,175. Corporate insiders own 9.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SHAK shares. Wedbush restated a “neutral” rating and set a $90.00 price target on shares of Shake Shack in a research note on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on shares of Shake Shack from $102.00 to $105.00 and gave the stock an “underweight” rating in a research note on Monday, June 3rd. Morgan Stanley cut their price objective on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Robert W. Baird increased their price objective on shares of Shake Shack from $93.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Barclays increased their price objective on shares of Shake Shack from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Shake Shack presently has an average rating of “Hold” and an average price target of $107.56.

About Shake Shack

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.