Norges Bank Makes New $15.41 Million Investment in Shake Shack Inc. (NYSE:SHAK)

Norges Bank acquired a new position in shares of Shake Shack Inc. (NYSE:SHAK - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 118,711 shares of the company's stock, valued at approximately $15,409,000. Norges Bank owned about 0.28% of Shake Shack at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. GDS Wealth Management increased its position in Shake Shack by 253.6% in the 4th quarter. GDS Wealth Management now owns 14,277 shares of the company's stock valued at $1,853,000 after acquiring an additional 10,239 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Shake Shack by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,930 shares of the company's stock valued at $46,979,000 after purchasing an additional 8,429 shares during the period. FMR LLC raised its stake in shares of Shake Shack by 3.6% during the third quarter. FMR LLC now owns 243,549 shares of the company's stock valued at $25,137,000 after purchasing an additional 8,512 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Shake Shack in the fourth quarter worth about $260,000. Finally, Assenagon Asset Management S.A. grew its position in Shake Shack by 45.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 152,264 shares of the company's stock valued at $19,764,000 after buying an additional 47,906 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Shake Shack Stock Up 0.5 %

Shares of NYSE:SHAK traded up $0.38 during trading on Friday, reaching $82.59. 1,017,511 shares of the company traded hands, compared to its average volume of 1,054,210. Shake Shack Inc. has a 1-year low of $72.93 and a 1-year high of $139.89. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50. The firm has a market cap of $3.51 billion, a P/E ratio of 359.07 and a beta of 1.80. The firm has a fifty day simple moving average of $96.89 and a 200 day simple moving average of $113.45.

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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, beating analysts' consensus estimates of $0.25 by $0.01. The firm had revenue of $328.68 million for the quarter, compared to the consensus estimate of $329.02 million. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. Analysts anticipate that Shake Shack Inc. will post 1.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SHAK shares. Wells Fargo & Company assumed coverage on shares of Shake Shack in a research note on Wednesday, March 26th. They set an "equal weight" rating and a $95.00 price objective on the stock. TD Securities reissued a "buy" rating and issued a $140.00 price objective on shares of Shake Shack in a research note on Friday, February 21st. UBS Group raised 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. Stifel Nicolaus dropped their price target on shares of 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, Oppenheimer cut their price objective on Shake Shack from $155.00 to $125.00 and set an "outperform" rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $121.70.

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.