Shake Shack, Inc. (NYSE:SHAK) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC boosted its holdings in Shake Shack, Inc. (NYSE:SHAK - Free Report) by 0.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 377,987 shares of the company's stock after acquiring an additional 2,435 shares during the period. Jennison Associates LLC owned 0.89% of Shake Shack worth $33,327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of Shake Shack by 939.3% during the first quarter. Farther Finance Advisors LLC now owns 291 shares of the company's stock worth $26,000 after acquiring an additional 263 shares during the period. Nemes Rush Group LLC acquired a new stake in shares of Shake Shack during the fourth quarter worth about $29,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Shake Shack during the fourth quarter worth about $32,000. Garde Capital Inc. acquired a new stake in Shake Shack in the first quarter valued at about $35,000. Finally, Princeton Global Asset Management LLC acquired a new stake in Shake Shack in the first quarter valued at about $44,000. Hedge funds and other institutional investors own 86.07% of the company's stock.

Insider Activity

In other Shake Shack news, CFO Katherine Irene Fogertey sold 3,956 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $127.49, for a total value of $504,350.44. Following the transaction, the chief financial officer directly owned 35,750 shares of the company's stock, valued at approximately $4,557,767.50. This trade represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Harris Meyer sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $140.07, for a total transaction of $2,801,400.00. Following the completion of the sale, the director directly owned 367,984 shares of the company's stock, valued at $51,543,518.88. The trade was a 5.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,391 shares of company stock valued at $11,869,925 over the last three months. 9.73% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SHAK. Jefferies Financial Group cut shares of Shake Shack from a "hold" rating to an "underperform" rating and raised their price objective for the stock from $100.00 to $120.00 in a research note on Thursday. Barclays boosted their price objective on shares of Shake Shack from $166.00 to $168.00 and gave the stock an "overweight" rating in a report on Thursday. Loop Capital reissued a "hold" rating and issued a $127.00 target price on shares of Shake Shack in a research report on Tuesday, July 8th. Oppenheimer restated an "outperform" rating and issued a $160.00 target price (up previously from $125.00) on shares of Shake Shack in a research report on Thursday, June 26th. Finally, Wells Fargo & Company increased their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the company an "equal weight" rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Shake Shack presently has an average rating of "Hold" and a consensus price target of $126.86.

Shake Shack Stock Performance

NYSE:SHAK opened at $134.87 on Friday. Shake Shack, Inc. has a 1 year low of $72.93 and a 1 year high of $144.65. The firm's fifty day simple moving average is $129.40 and its 200 day simple moving average is $111.55. The company has a current ratio of 1.91, a quick ratio of 1.88 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $5.75 billion, a PE ratio of 481.68, a PEG ratio of 3.08 and a beta of 1.77.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.02). The company had revenue of $320.90 million during the quarter, compared to the consensus estimate of $330.24 million. Shake Shack had a net margin of 0.97% and a return on equity of 8.45%. Shake Shack's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the company earned $0.13 earnings per share. On average, sell-side analysts anticipate 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.

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