Great Lakes Advisors LLC Trims Stock Holdings in Shake Shack Inc. (NYSE:SHAK)

Great Lakes Advisors LLC lessened its holdings in shares of Shake Shack Inc. (NYSE:SHAK - Free Report) by 23.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,495 shares of the company's stock after selling 3,573 shares during the period. Great Lakes Advisors LLC's holdings in Shake Shack were worth $1,492,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Louisiana State Employees Retirement System lifted its holdings in shares of Shake Shack by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the company's stock worth $2,518,000 after acquiring an additional 100 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Shake Shack by 0.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company's stock worth $3,241,000 after acquiring an additional 139 shares during the period. Arizona State Retirement System lifted its holdings in shares of Shake Shack by 1.7% during the 4th quarter. Arizona State Retirement System now owns 11,024 shares of the company's stock worth $1,431,000 after acquiring an additional 182 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of Shake Shack by 1.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company's stock worth $1,372,000 after acquiring an additional 199 shares during the period. Finally, New York State Teachers Retirement System lifted its holdings in shares of 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 worth $5,091,000 after acquiring an additional 200 shares during the period. Institutional investors own 86.07% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts recently commented on SHAK shares. 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. Truist Financial upped their price target on shares of Shake Shack from $143.00 to $154.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Stifel Nicolaus decreased their price objective on shares of Shake Shack from $128.00 to $110.00 and set a "hold" rating for the company in a research report on Friday, January 17th. Barclays upgraded shares of Shake Shack from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $125.00 to $159.00 in a research report on Tuesday, January 7th. Finally, UBS Group increased their price objective on shares of Shake Shack from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $125.50.

Shake Shack Stock Up 4.9 %

Shares of SHAK traded up $4.18 during trading hours on Wednesday, reaching $89.96. 1,063,808 shares of the stock traded hands, compared to its average volume of 987,011. 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 stock has a fifty day simple moving average of $110.24 and a 200 day simple moving average of $115.58. Shake Shack Inc. has a 52 week low of $77.50 and a 52 week high of $139.89. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 391.13 and a beta of 1.89.

Shake Shack (NYSE:SHAK - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.26 EPS for the quarter, topping the consensus estimate 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%. On average, equities 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.