Ieq Capital LLC acquired a new stake in Shake Shack Inc. (NYSE:SHAK - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,417 shares of the company's stock, valued at approximately $444,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its holdings in shares of Shake Shack by 154.8% during 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Shake Shack during the third quarter valued at about $39,677,000. Holocene Advisors LP lifted its position 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 worth $97,673,000 after buying an additional 384,131 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of Shake Shack during the 3rd quarter worth about $18,626,000. Finally, Jennison Associates LLC increased its holdings in shares of Shake Shack by 27.7% during the 4th quarter. Jennison Associates LLC now owns 375,552 shares of the company's stock valued at $48,747,000 after acquiring an additional 81,441 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company's stock.
Shake Shack Stock Up 1.4 %
Shake Shack stock traded up $1.53 during trading hours on Friday, hitting $108.36. 809,620 shares of the stock traded hands, compared to its average volume of 1,464,439. Shake Shack Inc. has a one year low of $77.50 and a one year high of $139.89. The firm's 50-day moving average price is $119.92 and its two-hundred day moving average price is $116.70. 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 company has a market cap of $4.60 billion, a PE ratio of 471.11 and a beta of 1.86.
Shake Shack (NYSE:SHAK - Get Free Report) last released 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 firm had revenue of $328.68 million for the quarter, compared to analysts' expectations of $329.02 million. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. On average, research analysts forecast that Shake Shack Inc. will post 1.26 EPS for the current year.
Wall Street Analyst Weigh In
SHAK has been the subject of a number of recent analyst reports. Wedbush upped their target price on Shake Shack from $115.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, February 21st. UBS Group upped their price objective on shares of Shake Shack from $130.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Oppenheimer raised their target price on shares of Shake Shack from $145.00 to $155.00 and gave the company an "outperform" rating in a research note on Tuesday, January 7th. Truist Financial boosted their target price on shares of Shake Shack from $143.00 to $154.00 and gave the stock a "buy" rating in a research 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 on the stock in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $125.50.
Read Our Latest Analysis on Shake Shack
Insider Activity at Shake Shack
In other Shake Shack news, CFO Katherine Irene Fogertey sold 642 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the sale, the chief financial officer now directly owns 30,717 shares in the company, valued at $4,223,894.67. This represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 9.73% of the stock is currently owned by corporate insiders.
Shake Shack Profile
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Free Report)
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.
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