Commonwealth Equity Services LLC Trims Stake in Shake Shack Inc. (NYSE:SHAK)

Commonwealth Equity Services LLC cut its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,037 shares of the company’s stock after selling 381 shares during the period. Commonwealth Equity Services LLC’s holdings in Shake Shack were worth $913,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. lifted its position in shares of Shake Shack by 154.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after buying an additional 395,311 shares in the last quarter. Cookson Peirce & Co. Inc. bought a new stake in Shake Shack during the 4th quarter worth approximately $26,756,000. Fisher Asset Management LLC lifted its holdings in Shake Shack by 27.0% during the fourth quarter. Fisher Asset Management LLC now owns 449,796 shares of the company’s stock valued at $58,384,000 after purchasing an additional 95,682 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Shake Shack by 27.7% in the fourth quarter. Jennison Associates LLC now owns 375,552 shares of the company’s stock worth $48,747,000 after purchasing an additional 81,441 shares during the period. Finally, State Street Corp increased its stake in shares of Shake Shack by 3.5% in the third quarter. State Street Corp now owns 1,452,736 shares of the company’s stock worth $149,937,000 after purchasing an additional 49,324 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SHAK. Truist Financial lifted their target price on shares of Shake Shack from $143.00 to $154.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Wells Fargo & Company assumed coverage on Shake Shack in a research report on Wednesday, March 26th. They issued an “equal weight” rating and a $95.00 price objective on the stock. Stifel Nicolaus cut their target price on Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a research report on Friday, January 17th. UBS Group boosted their price target on Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $125.00 to $159.00 in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $124.20.

Shake Shack Price Performance

Shares of Shake Shack stock opened at $90.95 on Wednesday. The stock has a 50 day moving average price of $104.20 and a 200-day moving average price of $115.12. Shake Shack Inc. has a one year low of $77.50 and a one year high of $139.89. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 395.45 and a beta of 1.89. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.98 and a current ratio of 1.97.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The business had revenue of $328.68 million for the quarter, compared to analysts’ expectations of $329.02 million. Equities analysts expect that Shake Shack Inc. will post 1.26 EPS for the current year.

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.