Victory Capital Management Inc. Cuts Holdings in Shake Shack Inc. (NYSE:SHAK)

Victory Capital Management Inc. trimmed its stake in Shake Shack Inc. (NYSE:SHAK - Free Report) by 37.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,154 shares of the company's stock after selling 4,823 shares during the quarter. Victory Capital Management Inc.'s holdings in Shake Shack were worth $1,058,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GDS Wealth Management lifted 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 in the last quarter. Fisher Asset Management LLC increased its holdings in Shake Shack by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 354,114 shares of the company's stock worth $36,548,000 after buying an additional 16,097 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Shake Shack by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 361,930 shares of the company's stock worth $46,979,000 after buying an additional 8,429 shares during the last quarter. FMR LLC lifted its stake in Shake Shack by 3.6% during the 3rd quarter. FMR LLC now owns 243,549 shares of the company's stock valued at $25,137,000 after acquiring an additional 8,512 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Shake Shack by 10.8% in the third quarter. Jennison Associates LLC now owns 294,111 shares of the company's stock worth $30,355,000 after acquiring an additional 28,661 shares during the period. 86.07% of the stock is currently owned by institutional investors.

Remove Ads

Shake Shack Price Performance

SHAK traded up $4.86 during trading hours on Monday, hitting $95.56. The company's stock had a trading volume of 1,129,656 shares, compared to its average volume of 987,286. 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 Inc. has a 12 month low of $77.50 and a 12 month high of $139.89. The business's 50-day moving average price is $107.78 and its 200-day moving average price is $115.40. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 415.47 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, beating 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 company had revenue of $328.68 million for the quarter, compared to the consensus estimate of $329.02 million. Sell-side analysts expect that Shake Shack Inc. will post 1.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SHAK has been the topic of several research reports. Oppenheimer raised their target price on shares of Shake Shack from $145.00 to $155.00 and gave the stock an "outperform" rating in a report on Tuesday, January 7th. UBS Group increased their target price on Shake Shack from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Wedbush increased their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. cut their target price on shares of Shake Shack from $107.00 to $105.00 and set an "underweight" rating for the company in a research report on Thursday. Finally, Barclays upgraded shares of Shake Shack from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $125.00 to $159.00 in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $125.67.

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.