Man Group plc Sells 8,289 Shares of Shake Shack Inc. (NYSE:SHAK)

Man Group plc cut its position in Shake Shack Inc. (NYSE:SHAK - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 405,792 shares of the company's stock after selling 8,289 shares during the period. Man Group plc owned 0.96% of Shake Shack worth $52,672,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in Shake Shack by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 189,229 shares of the company's stock valued at $19,530,000 after acquiring an additional 2,043 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Shake Shack by 45.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 152,264 shares of the company's stock valued at $19,764,000 after acquiring an additional 47,906 shares in the last quarter. CHURCHILL MANAGEMENT Corp bought a new position in Shake Shack in the 4th quarter valued at about $871,000. Cascade Investment Group Inc. bought a new position in Shake Shack in the 4th quarter valued at about $221,000. Finally, Harbor Investment Advisory LLC bought a new position in Shake Shack in the 4th quarter valued at about $149,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on SHAK. Oppenheimer dropped their price target on shares of Shake Shack from $155.00 to $125.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. TD Securities reaffirmed a "buy" rating and issued a $105.00 price target on shares of Shake Shack in a research report on Thursday, May 1st. Barclays dropped their price target on shares of Shake Shack from $155.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Loop Capital raised shares of Shake Shack from a "hold" rating to a "buy" rating and set a $127.00 target price on the stock in a research report on Tuesday, April 1st. Finally, Wells Fargo & Company assumed coverage on shares of Shake Shack in a research report on Wednesday, March 26th. They set an "equal weight" rating and a $95.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $114.40.

Shake Shack Stock Performance

Shares of SHAK stock traded up $2.14 during trading hours on Friday, hitting $119.23. 1,124,761 shares of the company were exchanged, compared to its average volume of 1,136,609. The firm has a fifty day simple moving average of $91.21 and a 200 day simple moving average of $111.11. 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 Inc. has a 52-week low of $72.93 and a 52-week high of $139.89. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 518.39 and a beta of 1.61.

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 (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 company had revenue of $320.90 million for the quarter, compared to analysts' expectations of $330.24 million. During the same quarter in the previous year, the business earned $0.13 EPS. The company's revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts predict that Shake Shack Inc. will post 1.26 earnings per share for the current fiscal year.

Shake Shack Company 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.