Raymond James & Associates Buys 25,761 Shares of Shake Shack Inc. (NYSE:SHAK)

Raymond James & Associates lifted its holdings in shares of Shake Shack Inc. (NYSE:SHAK - Free Report) by 53.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,771 shares of the company's stock after buying an additional 25,761 shares during the quarter. Raymond James & Associates owned about 0.17% of Shake Shack worth $5,468,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SHAK. Vanguard Group Inc. boosted its holdings in shares of Shake Shack by 1.2% during the first quarter. Vanguard Group Inc. now owns 4,071,207 shares of the company's stock worth $276,435,000 after purchasing an additional 48,614 shares during the period. 12 West Capital Management LP lifted its position in shares of Shake Shack by 82.2% in the third quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company's stock valued at $96,373,000 after acquiring an additional 748,789 shares in the last quarter. State Street Corp increased its holdings in shares of Shake Shack by 2.4% in the second quarter. State Street Corp now owns 1,318,230 shares of the company's stock worth $102,453,000 after purchasing an additional 30,401 shares during the last quarter. Van Berkom & Associates Inc. raised its position in shares of Shake Shack by 19.3% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,046,339 shares of the company's stock valued at $60,761,000 after buying an additional 168,947 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Shake Shack by 4.5% during the 1st quarter. Geode Capital Management LLC now owns 692,530 shares of the company's stock valued at $38,429,000 after purchasing an additional 30,086 shares during the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on SHAK shares. UBS Group raised their price target on Shake Shack from $80.00 to $88.00 and gave the stock a "neutral" rating in a report on Monday, February 12th. Oppenheimer raised their price target on shares of Shake Shack from $108.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, March 22nd. Truist Financial upped their target price on shares of Shake Shack from $112.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, April 2nd. Robert W. Baird increased their price target on shares of Shake Shack from $67.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday, February 13th. Finally, TD Cowen reiterated a "buy" rating and issued a $125.00 target price on shares of Shake Shack in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $86.39.

Shake Shack Stock Up 0.1 %

SHAK traded up $0.10 during trading hours on Wednesday, hitting $98.61. 873,414 shares of the company's stock were exchanged, compared to its average volume of 995,858. The stock's 50-day moving average is $97.05 and its two-hundred day moving average is $75.25. Shake Shack Inc. has a 1-year low of $52.64 and a 1-year high of $110.90. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.52. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 214.52, a PEG ratio of 3.86 and a beta of 1.80.

Shake Shack (NYSE:SHAK - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.02 earnings per share for the quarter. The company had revenue of $286.20 million during the quarter, compared to the consensus estimate of $280.45 million. Shake Shack had a net margin of 1.82% and a return on equity of 3.67%. The firm's quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.06) earnings per share. Sell-side analysts predict that Shake Shack Inc. will post 0.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $95.25, for a total value of $2,857,500.00. Following the sale, the director now owns 550,437 shares of the company's stock, valued at $52,429,124.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $95.25, for a total transaction of $2,857,500.00. Following the completion of the sale, the director now owns 550,437 shares in the company, valued at approximately $52,429,124.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $103.01, for a total value of $31,315.04. Following the transaction, the director now owns 3,754 shares in the company, valued at $386,699.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,912 shares of company stock worth $10,201,834. 10.06% of the stock is owned by corporate insiders.

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.