Renaissance Technologies LLC decreased its position in shares of Shake Shack Inc. (NYSE:SHAK - Free Report) by 33.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 303,200 shares of the company's stock after selling 154,600 shares during the period. Renaissance Technologies LLC owned 0.71% of Shake Shack worth $39,355,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. raised its stake in shares of Shake Shack by 30.7% in the 4th quarter. Invesco Ltd. now owns 1,245,093 shares of the company's stock valued at $161,613,000 after acquiring an additional 292,348 shares during the period. Cookson Peirce & Co. Inc. acquired a new stake in shares of Shake Shack during the fourth quarter valued at approximately $26,756,000. Norges Bank acquired a new position in shares of Shake Shack in the fourth quarter worth $15,409,000. Fisher Asset Management LLC raised its stake in shares of Shake Shack by 27.0% in the 4th quarter. Fisher Asset Management LLC now owns 449,796 shares of the company's stock valued at $58,384,000 after acquiring an additional 95,682 shares in the last quarter. Finally, Jennison Associates LLC grew 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 valued at $48,747,000 after buying an additional 81,441 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. Stifel Nicolaus reduced their price target on Shake Shack from $120.00 to $97.00 and set a "hold" rating on the stock in a research report on Tuesday. Truist Financial upped their target price on Shake Shack from $143.00 to $154.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Oppenheimer dropped their price target on Shake Shack from $155.00 to $125.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company initiated coverage on shares of Shake Shack in a research report on Wednesday, March 26th. They issued an "equal weight" rating and a $95.00 price target on the stock. Finally, Loop Capital upgraded shares of Shake Shack from a "hold" rating to a "buy" rating and set a $127.00 price target for the company in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $121.05.
View Our Latest Stock Analysis on SHAK
Shake Shack Stock Performance
Shares of NYSE:SHAK traded down $0.59 during mid-day trading on Wednesday, reaching $81.97. The company had a trading volume of 172,206 shares, compared to its average volume of 1,056,573. Shake Shack Inc. has a one year low of $72.93 and a one year high of $139.89. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 356.39 and a beta of 1.80. 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's 50-day moving average price is $95.58 and its 200-day moving average price is $113.13.
Shake Shack (NYSE:SHAK - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.01. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. The firm had revenue of $328.68 million during the quarter, compared to analyst estimates of $329.02 million. As a group, equities research analysts anticipate that Shake Shack Inc. will post 1.26 EPS for the current fiscal year.
Shake Shack Company 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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