Bridgewater Associates LP Sells 3,032 Shares of Shake Shack Inc. (NYSE:SHAK)

Bridgewater Associates LP cut its holdings in shares of Shake Shack Inc. (NYSE:SHAK - Free Report) by 30.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,773 shares of the company's stock after selling 3,032 shares during the quarter. Bridgewater Associates LP's holdings in Shake Shack were worth $879,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SHAK. Louisiana State Employees Retirement System lifted its stake in Shake Shack by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the company's stock worth $2,518,000 after purchasing an additional 100 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Shake Shack by 5.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,870 shares of the company's stock worth $243,000 after purchasing an additional 100 shares during the last quarter. Summit Financial LLC lifted its position in shares of Shake Shack by 1.1% in the fourth quarter. Summit Financial LLC now owns 13,083 shares of the company's stock worth $1,698,000 after buying an additional 139 shares in the last quarter. Arizona State Retirement System boosted its stake in Shake Shack by 1.7% during the fourth quarter. Arizona State Retirement System now owns 11,024 shares of the company's stock valued at $1,431,000 after buying an additional 182 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in Shake Shack by 0.5% during the 4th quarter. New York State Teachers Retirement System now owns 39,225 shares of the company's stock valued at $5,091,000 after buying an additional 200 shares in the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SHAK has been the topic of several recent research reports. Gordon Haskett raised Shake Shack from a "hold" rating to a "buy" rating and set a $154.00 price objective on the stock in a report on Wednesday, January 8th. Truist Financial decreased their price target on shares of Shake Shack from $154.00 to $131.00 and set a "buy" rating on the stock in a research note on Tuesday. Wedbush lifted their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, February 21st. TD Securities restated a "buy" rating and set a $140.00 target price on shares of Shake Shack in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Shake Shack from $107.00 to $105.00 and set an "underweight" rating for the company in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $118.29.

Shake Shack Trading Up 3.4 %

SHAK stock traded up $2.91 during trading on Wednesday, hitting $88.22. The company had a trading volume of 1,359,516 shares, compared to its average volume of 1,069,225. The firm has a market capitalization of $3.75 billion, a P/E ratio of 383.57 and a beta of 1.80. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50. Shake Shack Inc. has a 52-week low of $72.93 and a 52-week high of $139.89. The company has a 50 day simple moving average of $92.99 and a 200-day simple moving average of $112.37.

Shake Shack (NYSE:SHAK - Get Free Report) last issued 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. The business had revenue of $328.68 million for the quarter, compared to analyst estimates of $329.02 million. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. As a group, research analysts forecast that Shake Shack Inc. will post 1.26 earnings per share for the current fiscal year.

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.