Bryce Point Capital LLC Invests $1.56 Million in Shake Shack Inc. (NYSE:SHAK)

Bryce Point Capital LLC acquired a new position in Shake Shack Inc. (NYSE:SHAK - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 11,993 shares of the company's stock, valued at approximately $1,557,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. increased 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 in the last quarter. Cookson Peirce & Co. Inc. purchased a new stake in shares of Shake Shack in the fourth quarter worth about $26,756,000. Norges Bank acquired a new stake in shares of Shake Shack in the fourth quarter valued at about $15,409,000. Fisher Asset Management LLC lifted its position in Shake Shack by 27.0% during the 4th quarter. Fisher Asset Management LLC now owns 449,796 shares of the company's stock worth $58,384,000 after acquiring an additional 95,682 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Shake Shack by 27.7% in 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 and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SHAK. Gordon Haskett upgraded shares of Shake Shack from a "hold" rating to a "buy" rating and set a $154.00 price objective on the stock in a research note on Wednesday, January 8th. Loop Capital raised shares of Shake Shack from a "hold" rating to a "buy" rating and set a $127.00 price target on the stock in a research note on Tuesday. Wedbush upped their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Stifel Nicolaus dropped their target price on Shake Shack from $128.00 to $110.00 and set a "hold" rating on the stock in a research report on Friday, January 17th. Finally, Wells Fargo & Company initiated coverage on Shake Shack in a research note on Wednesday, March 26th. They issued an "equal weight" rating and a $95.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $124.20.

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Shake Shack Stock Performance

Shares of NYSE:SHAK traded down $5.75 on Friday, reaching $78.46. 2,718,791 shares of the company's stock were exchanged, compared to its average volume of 1,031,761. The business's 50-day moving average is $102.14 and its two-hundred day moving average is $114.61. 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 fifty-two week low of $74.06 and a fifty-two week high of $139.89. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 341.15 and a beta of 1.80.

Shake Shack (NYSE:SHAK - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.26 earnings per share 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 firm had revenue of $328.68 million for the quarter, compared to analyst estimates of $329.02 million. As a group, equities research analysts forecast 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.