T. Rowe Price Investment Management Inc. Sells 74,225 Shares of Shake Shack Inc. (NYSE:SHAK)

T. Rowe Price Investment Management Inc. reduced its position in Shake Shack Inc. (NYSE:SHAK - Free Report) by 9.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 728,648 shares of the company's stock after selling 74,225 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.72% of Shake Shack worth $94,579,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Invesco Ltd. grew its holdings in Shake Shack by 30.7% in the fourth quarter. Invesco Ltd. now owns 1,245,093 shares of the company's stock valued at $161,613,000 after purchasing an additional 292,348 shares during the last quarter. Cookson Peirce & Co. Inc. purchased a new position in Shake Shack during the fourth quarter worth about $26,756,000. Norges Bank acquired a new stake in shares of Shake Shack during the 4th 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 during the period. Finally, Jennison Associates LLC raised 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 buying an additional 81,441 shares during the period. Hedge funds and other institutional investors own 86.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SHAK. Oppenheimer lowered their price objective on Shake Shack from $155.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company assumed coverage on Shake Shack in a report on Wednesday, March 26th. They issued an "equal weight" rating and a $95.00 price objective for the company. TD Securities reaffirmed a "buy" rating and issued a $140.00 price target on shares of Shake Shack in a research note on Friday, February 21st. Truist Financial lowered their target price on Shake Shack from $154.00 to $131.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, UBS Group reduced their price objective on Shake Shack from $140.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $116.38.

Shake Shack Stock Down 1.2 %

SHAK stock traded down $1.13 during trading on Monday, reaching $89.70. 1,167,089 shares of the stock were exchanged, compared to its average volume of 1,073,030. The firm has a market cap of $3.82 billion, a P/E ratio of 390.00 and a beta of 1.80. Shake Shack Inc. has a twelve month low of $72.93 and a twelve month high of $139.89. The firm's 50 day moving average is $91.27 and its 200 day moving average is $111.87. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50.

Shake Shack (NYSE:SHAK - Get Free Report) last posted 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. The firm had revenue of $328.68 million during 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%. As a group, research 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.