Shake Shack Inc. (NYSE:SHAK) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. grew its position in Shake Shack Inc. (NYSE:SHAK - Free Report) by 60.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,233 shares of the company's stock after buying an additional 25,222 shares during the period. Alliancebernstein L.P. owned 0.16% of Shake Shack worth $8,727,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Cookson Peirce & Co. Inc. purchased a new position in shares of Shake Shack in the 4th quarter valued at about $26,756,000. Norges Bank purchased a new position in Shake Shack during the 4th quarter worth $15,409,000. Fisher Asset Management LLC increased its stake in Shake Shack by 27.0% in the fourth quarter. Fisher Asset Management LLC now owns 449,796 shares of the company's stock valued at $58,384,000 after purchasing an additional 95,682 shares during the period. Jennison Associates LLC boosted its stake in shares of Shake Shack by 27.7% during the fourth quarter. Jennison Associates LLC now owns 375,552 shares of the company's stock worth $48,747,000 after buying an additional 81,441 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Shake Shack by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company's stock worth $574,497,000 after buying an additional 49,883 shares during the period. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SHAK has been the topic of several analyst reports. 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. JPMorgan Chase & Co. reduced their target price on shares of Shake Shack from $107.00 to $105.00 and set an "underweight" rating for the company in a research note on Thursday, March 20th. Loop Capital raised shares of Shake Shack from a "hold" rating to a "buy" rating and set a $127.00 price target for the company in a report on Tuesday, April 1st. Wedbush lifted their price objective on Shake Shack from $115.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Finally, Gordon Haskett raised 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $121.05.

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Shake Shack Trading Down 0.5 %

NYSE SHAK traded down $0.42 during mid-day trading on Wednesday, hitting $82.14. The company's stock had a trading volume of 116,959 shares, compared to its average volume of 1,056,391. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98. Shake Shack Inc. has a 52-week low of $72.93 and a 52-week high of $139.89. The stock's fifty day simple moving average is $95.58 and its two-hundred day simple moving average is $113.13. The firm has a market capitalization of $3.49 billion, a P/E ratio of 357.35 and a beta of 1.80.

Shake Shack (NYSE:SHAK - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $329.02 million. Research analysts expect that Shake Shack Inc. will post 1.26 EPS for the current year.

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.