State of Alaska Department of Revenue Decreases Stock Position in Shake Shack Inc. (NYSE:SHAK)

State of Alaska Department of Revenue reduced its position in shares of Shake Shack Inc. (NYSE:SHAK) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,681 shares of the company’s stock after selling 135 shares during the period. State of Alaska Department of Revenue owned about 0.05% of Shake Shack worth $2,943,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its holdings in Shake Shack by 0.4% in the third quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company’s stock valued at $3,241,000 after acquiring an additional 139 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Shake Shack by 1.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock valued at $1,372,000 after purchasing an additional 199 shares in the last quarter. Covestor Ltd lifted its position in shares of Shake Shack by 41.6% during the third quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after purchasing an additional 205 shares during the last quarter. Amalgamated Bank grew its stake in Shake Shack by 1.8% in the third quarter. Amalgamated Bank now owns 11,721 shares of the company’s stock worth $1,210,000 after purchasing an additional 211 shares in the last quarter. Finally, KBC Group NV increased its holdings in Shake Shack by 24.1% in the third quarter. KBC Group NV now owns 1,206 shares of the company’s stock valued at $124,000 after buying an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Insider Activity at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the completion of the transaction, the chief financial officer now 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 filing with the SEC, which is available through the SEC website. Company insiders own 9.73% of the company’s stock.

Shake Shack Stock Down 2.0 %

Shake Shack stock opened at $112.84 on Monday. Shake Shack Inc. has a 52 week low of $75.46 and a 52 week high of $139.89. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 663.76 and a beta of 1.86. The company’s 50-day moving average price is $126.54 and its two-hundred day moving average price is $115.10. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SHAK. Wedbush reaffirmed a “neutral” rating and set a $130.00 target price on shares of Shake Shack in a report on Wednesday, January 15th. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $125.00 to $159.00 in a research note on Tuesday, January 7th. UBS Group increased their target price on shares of Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Gordon Haskett raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a report on Wednesday, January 8th. Finally, Truist Financial lowered their price objective 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 given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $123.78.

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.