Bridgewater Associates LP Reduces Stock Position in Shake Shack Inc. (NYSE:SHAK)

Bridgewater Associates LP trimmed its position in Shake Shack Inc. (NYSE:SHAK - Free Report) by 30.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,773 shares of the company's stock after selling 3,032 shares during the quarter. Bridgewater Associates LP's holdings in Shake Shack were worth $879,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System grew its position in shares of Shake Shack by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the company's stock valued at $2,518,000 after purchasing an additional 100 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Shake Shack by 5.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,870 shares of the company's stock valued at $243,000 after buying an additional 100 shares during the period. Summit Financial LLC grew its position in shares of Shake Shack by 1.1% during the fourth quarter. Summit Financial LLC now owns 13,083 shares of the company's stock worth $1,698,000 after acquiring an additional 139 shares during the last quarter. Arizona State Retirement System raised its stake in Shake Shack by 1.7% during the 4th quarter. Arizona State Retirement System now owns 11,024 shares of the company's stock valued at $1,431,000 after acquiring an additional 182 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of Shake Shack by 0.5% during the fourth quarter. New York State Teachers Retirement System now owns 39,225 shares of the company's stock valued at $5,091,000 after acquiring an additional 200 shares during the period. 86.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on SHAK shares. Wedbush boosted their price target on shares of Shake Shack from $115.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Raymond James set a $145.00 price target on shares of Shake Shack and gave the stock a "strong-buy" rating in a research note on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price objective on Shake Shack from $107.00 to $105.00 and set an "underweight" rating for the company in a research report on Thursday, March 20th. Stifel Nicolaus dropped their price target on Shake Shack from $120.00 to $97.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. Finally, Robert W. Baird decreased their target price on shares of Shake Shack from $98.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Shake Shack currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.29.

Shake Shack Stock Performance

Shares of Shake Shack stock traded up $0.47 during trading on Friday, reaching $90.44. The company's stock had a trading volume of 254,937 shares, compared to its average volume of 1,069,552. The business's fifty day moving average price is $92.20 and its 200-day moving average price is $112.08. 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 Inc. has a one year low of $72.93 and a one year high of $139.89. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 392.87 and a beta of 1.80.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.26 earnings per share (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 business had revenue of $328.68 million during the quarter, compared to analyst estimates of $329.02 million. As a group, equities research analysts predict that Shake Shack Inc. will post 1.26 earnings per share 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.