Ameriprise Financial Inc. Increases Stake in Shake Shack Inc. (NYSE:SHAK)

Ameriprise Financial Inc. grew its position in Shake Shack Inc. (NYSE:SHAK - Free Report) by 204.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 324,109 shares of the company's stock after buying an additional 217,493 shares during the quarter. Ameriprise Financial Inc. owned 0.76% of Shake Shack worth $42,064,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SHAK. Vanguard Group Inc. increased its position in shares of Shake Shack by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company's stock worth $574,497,000 after acquiring an additional 49,883 shares during the period. Invesco Ltd. grew its stake in Shake Shack by 30.7% during the 4th quarter. Invesco Ltd. now owns 1,245,093 shares of the company's stock worth $161,613,000 after purchasing an additional 292,348 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Shake Shack by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 760,595 shares of the company's stock worth $98,726,000 after purchasing an additional 19,320 shares during the period. Wasatch Advisors LP raised its position in Shake Shack by 1.8% in the 4th quarter. Wasatch Advisors LP now owns 566,425 shares of the company's stock valued at $73,522,000 after purchasing an additional 10,147 shares in the last quarter. Finally, Fisher Asset Management LLC boosted 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 buying an additional 95,682 shares during the period. Hedge funds and other institutional investors own 86.07% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SHAK. UBS Group reduced their target price on shares of Shake Shack from $140.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Truist Financial dropped their price objective on shares of Shake Shack from $154.00 to $131.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. TD Securities reaffirmed a "buy" rating and set a $105.00 price objective on shares of Shake Shack in a research report on Thursday, May 1st. Robert W. Baird increased their target price on Shake Shack from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company initiated coverage on Shake Shack in a research note on Wednesday, March 26th. They issued an "equal weight" rating and a $95.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $113.95.

Shake Shack Stock Performance

Shares of Shake Shack stock traded up $0.89 during trading on Tuesday, reaching $113.90. The company's stock had a trading volume of 1,625,086 shares, compared to its average volume of 1,127,264. The company has a 50-day moving average price of $89.52 and a two-hundred day moving average price of $111.09. Shake Shack Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $139.89. The firm has a market cap of $4.84 billion, a PE ratio of 495.22 and a beta of 1.61. 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 quarterly earnings data on Thursday, May 1st. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.02). Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The business had revenue of $320.90 million during the quarter, compared to analyst estimates of $330.24 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts forecast 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.