Principal Financial Group Inc. Has $25.33 Million Stock Position in Shake Shack Inc. (NYSE:SHAK)

Principal Financial Group Inc. lifted its holdings in Shake Shack Inc. (NYSE:SHAK) by 3.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 195,157 shares of the company’s stock after acquiring an additional 5,928 shares during the period. Principal Financial Group Inc. owned approximately 0.46% of Shake Shack worth $25,331,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SHAK. Point72 Asset Management L.P. boosted its holdings in Shake Shack by 154.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after purchasing an additional 395,311 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Shake Shack in the third quarter valued at approximately $39,677,000. Holocene Advisors LP boosted its stake in shares of Shake Shack by 68.3% in the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock valued at $97,673,000 after buying an additional 384,131 shares during the period. Paloma Partners Management Co acquired a new stake in Shake Shack during the third quarter worth approximately $18,626,000. Finally, Jennison Associates LLC increased its stake in Shake Shack by 27.7% during the 4th quarter. Jennison Associates LLC now owns 375,552 shares of the company’s stock worth $48,747,000 after acquiring an additional 81,441 shares during the period. 86.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. UBS Group upped their target price on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Truist Financial increased their price objective on shares of Shake Shack from $143.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday. Gordon Haskett upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a research report on Wednesday, January 8th. Stifel Nicolaus cut their price target on shares of Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a report on Friday, January 17th. Finally, Wedbush lifted their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Shake Shack currently has an average rating of “Hold” and a consensus price target of $125.50.

Shake Shack Stock Performance

Shares of SHAK stock opened at $108.96 on Friday. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 473.73 and a beta of 1.86. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $121.79 and its 200-day moving average price is $116.39. Shake Shack Inc. has a 12 month low of $77.50 and a 12 month high of $139.89.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, February 20th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.25 by $0.01. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The business had revenue of $328.68 million for the quarter, compared to the consensus estimate of $329.02 million. Equities research analysts forecast that Shake Shack Inc. will post 1.26 EPS for the current year.

Insider Transactions at Shake Shack

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 transaction of $88,281.42. Following the completion of the transaction, the chief financial officer now directly owns 30,717 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.73% of the stock is owned by company insiders.

Shake Shack 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.