Jennison Associates LLC Acquires 81,441 Shares of Shake Shack Inc. (NYSE:SHAK)

Jennison Associates LLC boosted its holdings in Shake Shack Inc. (NYSE:SHAK - Free Report) by 27.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 375,552 shares of the company's stock after purchasing an additional 81,441 shares during the period. Jennison Associates LLC owned approximately 0.88% of Shake Shack worth $48,747,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SHAK. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Shake Shack during the third quarter valued at about $41,000. R Squared Ltd bought a new position in shares of Shake Shack during the fourth quarter valued at about $56,000. Covestor Ltd raised its stake in shares of Shake Shack by 41.6% during the third quarter. Covestor Ltd now owns 698 shares of the company's stock valued at $72,000 after acquiring an additional 205 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Shake Shack by 56.3% during the fourth quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $96,000 after acquiring an additional 265 shares during the last quarter. Finally, Quest Partners LLC raised its stake in shares of Shake Shack by 76.1% during the third quarter. Quest Partners LLC now owns 752 shares of the company's stock valued at $78,000 after acquiring an additional 325 shares during the last quarter. 86.07% of the stock is owned by institutional investors.

Shake Shack Stock Performance

Shake Shack stock traded down $2.32 during midday trading on Friday, reaching $112.84. 718,683 shares of the company traded hands, compared to its average volume of 1,222,891. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. Shake Shack Inc. has a 12 month low of $75.46 and a 12 month high of $139.89. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 663.76 and a beta of 1.86. The business has a 50 day moving average of $126.54 and a two-hundred day moving average of $114.63.

Insiders Place Their Bets

In related news, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total transaction of $88,281.42. Following the transaction, the chief financial officer now owns 30,717 shares in the company, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Oppenheimer upped their price objective 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. Gordon Haskett upgraded shares of 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. Wedbush reiterated a "neutral" rating and set a $130.00 price target on shares of Shake Shack in a research report on Wednesday, January 15th. Stifel Nicolaus reduced 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, UBS Group boosted their price target on shares of Shake Shack from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $123.78.

About Shake Shack

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.