Cetera Investment Advisers Invests $254,000 in Shake Shack Inc. (NYSE:SHAK)

Cetera Investment Advisers acquired a new position in shares of Shake Shack Inc. (NYSE:SHAK - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,960 shares of the company's stock, valued at approximately $254,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Invesco Ltd. grew its holdings in shares of Shake Shack by 30.7% in 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 during the last quarter. Ameriprise Financial Inc. boosted its stake in Shake Shack by 204.0% in the fourth quarter. Ameriprise Financial Inc. now owns 324,109 shares of the company's stock valued at $42,064,000 after acquiring an additional 217,493 shares during the last quarter. Cookson Peirce & Co. Inc. acquired a new stake in shares of Shake Shack during the fourth quarter worth $26,756,000. Balyasny Asset Management L.P. increased its stake in shares of Shake Shack by 17.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company's stock valued at $116,078,000 after acquiring an additional 134,475 shares during the last quarter. Finally, Norges Bank acquired a new stake in Shake Shack during the 4th quarter worth $15,409,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Shake Shack Trading Down 0.4%

SHAK traded down $0.46 during trading on Wednesday, reaching $127.04. 977,054 shares of the stock traded hands, compared to its average volume of 1,167,469. Shake Shack Inc. has a 12 month low of $72.93 and a 12 month high of $139.89. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50. The stock's 50-day moving average is $99.70 and its 200 day moving average is $110.80. The stock has a market capitalization of $5.42 billion, a PE ratio of 552.35 and a beta of 1.61.

Shake Shack (NYSE:SHAK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. The firm had revenue of $320.90 million during the quarter, compared to the consensus estimate of $330.24 million. During the same quarter in the previous year, the company posted $0.13 EPS. The firm's revenue was up 10.5% on a year-over-year basis. Equities analysts anticipate that Shake Shack Inc. will post 1.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SHAK shares. Loop Capital upgraded shares of Shake Shack from a "hold" rating to a "buy" rating and set a $127.00 price objective on the stock in a report on Tuesday, April 1st. Wells Fargo & Company increased their price target on shares of Shake Shack from $95.00 to $115.00 and gave the company an "equal weight" rating in a report on Friday, May 30th. KeyCorp started coverage on shares of Shake Shack in a research report on Monday. They set a "sector weight" rating on the stock. Raymond James restated a "strong-buy" rating and issued a $140.00 price target (down previously from $145.00) on shares of Shake Shack in a research report on Friday, May 2nd. Finally, Stifel Nicolaus cut their target price on Shake Shack from $120.00 to $97.00 and set a "hold" rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has given a strong 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 $115.40.

Insider Activity at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $130.10, for a total value of $1,301,000.00. Following the completion of the transaction, the director now owns 396,636 shares in the company, valued at $51,602,343.60. This represents a 2.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 20,180 shares of company stock valued at $2,622,709 over the last 90 days. Insiders own 9.73% of the company's stock.

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.