State of Alaska Department of Revenue Has $2.94 Million Stock Holdings in Shake Shack Inc. (NYSE:SHAK)

State of Alaska Department of Revenue trimmed its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 0.6% in the 4th quarter, HoldingsChannel reports. The firm owned 22,681 shares of the company’s stock after selling 135 shares during the quarter. State of Alaska Department of Revenue’s holdings in Shake Shack were worth $2,943,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

SHAK has been the subject of a number of research analyst reports. Gordon Haskett upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a report on Wednesday, January 8th. Barclays raised Shake Shack from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $125.00 to $159.00 in a research note on Tuesday, January 7th. UBS Group lifted their target price on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Stifel Nicolaus reduced their price target on shares of Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a research report on Friday, January 17th. Finally, Wedbush reaffirmed a “neutral” rating and set a $130.00 price objective on shares of Shake Shack in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $123.78.

Shake Shack Stock Performance

SHAK opened at $112.84 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The company has a market cap of $4.79 billion, a PE ratio of 663.76 and a beta of 1.86. The stock has a 50-day moving average of $126.54 and a 200-day moving average of $115.10. Shake Shack Inc. has a 52-week low of $75.46 and a 52-week high of $139.89.

Insiders Place Their Bets

In other 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 value of $88,281.42. Following the sale, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 9.73% of the company’s stock.

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.