Shake Shack Inc. (NYSE:SHAK) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC raised its stake in Shake Shack Inc. (NYSE:SHAK - Free Report) by 44.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,499 shares of the company's stock after buying an additional 3,528 shares during the period. ProShare Advisors LLC's holdings in Shake Shack were worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Nemes Rush Group LLC bought a new position in shares of Shake Shack during the 4th quarter worth $29,000. Harvest Fund Management Co. Ltd bought a new position in Shake Shack during the 4th quarter worth about $32,000. Transcendent Capital Group LLC purchased a new position in Shake Shack during the 4th quarter valued at about $52,000. R Squared Ltd purchased a new position in Shake Shack during the 4th quarter valued at about $56,000. Finally, Montag & Caldwell LLC purchased a new stake in shares of Shake Shack in the 4th quarter worth approximately $68,000. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Stock Performance

SHAK stock traded up $0.37 during trading on Friday, hitting $117.66. 1,417,655 shares of the company traded hands, compared to its average volume of 1,150,934. The stock's 50-day simple moving average is $94.26 and its 200 day simple moving average is $110.79. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98. The company has a market cap of $5.02 billion, a PE ratio of 511.57 and a beta of 1.61. Shake Shack Inc. has a 1 year low of $72.93 and a 1 year high of $139.89.

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 for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $320.90 million for the quarter, compared to analysts' expectations of $330.24 million. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The firm's revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 earnings per share. On average, equities analysts expect that Shake Shack Inc. will post 1.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SHAK shares. Robert W. Baird lifted their price target on Shake Shack from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Loop Capital upgraded Shake Shack from a "hold" rating to a "buy" rating and set a $127.00 target price on the stock in a research note on Tuesday, April 1st. Wells Fargo & Company began coverage on shares of Shake Shack in a research report on Wednesday, March 26th. They set an "equal weight" rating and a $95.00 price target for the company. Stifel Nicolaus decreased their price target on shares of Shake Shack from $120.00 to $97.00 and set a "hold" rating for the company in a research report on Tuesday, April 15th. Finally, Truist Financial increased their price target on shares of Shake Shack from $134.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $113.40.

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.