Louisiana State Employees Retirement System Grows Holdings in Shake Shack Inc (SHAK)

Louisiana State Employees Retirement System raised its holdings in shares of Shake Shack Inc (NYSE:SHAK) by 29.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,300 shares of the company’s stock after purchasing an additional 2,600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Shake Shack were worth $712,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Rehmann Capital Advisory Group bought a new stake in shares of Shake Shack in the 2nd quarter worth about $124,000. Advisors Asset Management Inc. lifted its holdings in shares of Shake Shack by 50.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,202 shares of the company’s stock worth $212,000 after acquiring an additional 1,077 shares during the last quarter. HM Payson & Co. bought a new stake in shares of Shake Shack in the 2nd quarter worth about $249,000. Pinebridge Investments L.P. bought a new stake in shares of Shake Shack in the 2nd quarter worth about $250,000. Finally, Amalgamated Bank bought a new stake in shares of Shake Shack in the 2nd quarter worth about $261,000. Institutional investors and hedge funds own 87.46% of the company’s stock.

SHAK stock opened at $54.62 on Friday. The stock has a market capitalization of $2.24 billion, a P/E ratio of 95.82, a P/E/G ratio of 4.41 and a beta of 1.21. Shake Shack Inc has a 12 month low of $34.44 and a 12 month high of $70.12.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.11. The company had revenue of $116.30 million for the quarter, compared to the consensus estimate of $110.70 million. Shake Shack had a net margin of 0.42% and a return on equity of 10.39%. The firm’s revenue was up 27.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 EPS. As a group, analysts forecast that Shake Shack Inc will post 0.61 earnings per share for the current fiscal year.

Several research firms have recently issued reports on SHAK. Zacks Investment Research upgraded shares of Shake Shack from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. Barclays raised their target price on shares of Shake Shack from $52.00 to $59.00 and gave the stock an “equal weight” rating in a report on Monday, August 6th. Stifel Nicolaus began coverage on shares of Shake Shack in a report on Tuesday, October 9th. They issued a “hold” rating and a $65.00 target price for the company. Wedbush restated a “hold” rating and issued a $62.00 target price on shares of Shake Shack in a report on Friday, August 3rd. Finally, Morgan Stanley raised their target price on shares of Shake Shack from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, July 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $54.20.

In other Shake Shack news, Director Jonathan D. Sokoloff sold 500,000 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $57.15, for a total transaction of $28,575,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Equity Group L.P. Select sold 42,600 shares of the firm’s stock in a transaction dated Wednesday, October 10th. The shares were sold at an average price of $58.70, for a total transaction of $2,500,620.00. The disclosure for this sale can be found here. Insiders sold a total of 1,302,520 shares of company stock worth $76,491,918 in the last ninety days. 30.18% of the stock is currently owned by insiders.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of October 9, 2018, it operated 180 locations in 26 U.S.

See Also: Asset Allocation

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Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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