Maryland State Retirement & Pension System Sells 442 Shares of Shake Shack Inc. (NYSE:SHAK)

Posted by Defense World Staff on Sep 23rd, 2023

Maryland State Retirement & Pension System lessened its stake in Shake Shack Inc. (NYSE:SHAK – Free Report) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,585 shares of the company’s stock after selling 442 shares during the period. Maryland State Retirement & Pension System’s holdings in Shake Shack were worth $1,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its holdings in shares of Shake Shack by 260.3% during the 4th quarter. Quadrant Capital Group LLC now owns 825 shares of the company’s stock valued at $34,000 after purchasing an additional 596 shares during the last quarter. Natixis acquired a new stake in Shake Shack in the fourth quarter worth about $53,000. Tower Research Capital LLC TRC boosted its holdings in Shake Shack by 67.9% in the first quarter. Tower Research Capital LLC TRC now owns 989 shares of the company’s stock worth $55,000 after acquiring an additional 400 shares in the last quarter. Byrne Asset Management LLC boosted its holdings in Shake Shack by 206.7% in the first quarter. Byrne Asset Management LLC now owns 1,595 shares of the company’s stock worth $89,000 after acquiring an additional 1,075 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Shake Shack in the first quarter worth about $107,000. 91.70% of the stock is currently owned by institutional investors.

Shake Shack Stock Down 0.5 %

Shake Shack stock opened at $57.86 on Friday. The stock has a market capitalization of $2.45 billion, a PE ratio of -289.29 and a beta of 1.72. Shake Shack Inc. has a 12 month low of $40.83 and a 12 month high of $80.58. The business has a 50 day simple moving average of $71.20 and a 200-day simple moving average of $66.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 2.16.

Shake Shack (NYSE:SHAK – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.09. The business had revenue of $271.80 million during the quarter, compared to analysts’ expectations of $274.55 million. Shake Shack had a positive return on equity of 0.64% and a negative net margin of 0.74%. Shake Shack’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, analysts anticipate that Shake Shack Inc. will post 0.25 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeffrey Flug sold 1,987 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $69.86, for a total transaction of $138,811.82. Following the completion of the sale, the director now directly owns 6,511 shares in the company, valued at $454,858.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SHAK shares. JPMorgan Chase & Co. raised their price target on Shake Shack from $66.00 to $71.00 in a report on Monday, August 7th. Truist Financial raised their price target on Shake Shack from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Morgan Stanley lifted their target price on Shake Shack from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, August 4th. Loop Capital lifted their target price on Shake Shack from $60.00 to $71.00 in a report on Friday, August 4th. Finally, StockNews.com raised Shake Shack from a “sell” rating to a “hold” rating in a report on Tuesday. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.69.

Read Our Latest Report on SHAK

Shake Shack Company Profile

(Free Report)

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.