Point72 Asset Management L.P. Sells 292,925 Shares of Shake Shack Inc. (NYSE:SHAK)

Point72 Asset Management L.P. cut its position in Shake Shack Inc. (NYSE:SHAK - Free Report) by 45.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 357,760 shares of the company's stock after selling 292,925 shares during the period. Point72 Asset Management L.P. owned about 0.84% of Shake Shack worth $46,437,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHAK. Driehaus Capital Management LLC acquired a new position in shares of Shake Shack during the 4th quarter worth approximately $66,349,000. Invesco Ltd. boosted its holdings in Shake Shack by 30.7% in the 4th quarter. Invesco Ltd. now owns 1,245,093 shares of the company's stock valued at $161,613,000 after purchasing an additional 292,348 shares during the period. Ameriprise Financial Inc. grew its position in Shake Shack by 204.0% during the fourth quarter. Ameriprise Financial Inc. now owns 324,109 shares of the company's stock worth $42,064,000 after buying an additional 217,493 shares in the last quarter. Cookson Peirce & Co. Inc. bought a new position in shares of Shake Shack in the fourth quarter worth $26,756,000. Finally, Balyasny Asset Management L.P. raised its position 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 buying an additional 134,475 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Trading Down 1.5%

SHAK stock traded down $1.80 during midday trading on Monday, reaching $117.39. 1,566,489 shares of the company's stock traded hands, compared to its average volume of 1,138,329. The company has a market capitalization of $5.01 billion, a P/E ratio of 510.39 and a beta of 1.61. Shake Shack Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $139.89. The business has a 50-day moving average price of $91.21 and a two-hundred day moving average price of $111.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings data 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). Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. 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 prior year, the business earned $0.13 earnings per share. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts forecast that Shake Shack Inc. will post 1.26 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on SHAK. JPMorgan Chase & Co. dropped their price target on Shake Shack from $105.00 to $100.00 and set an "underweight" rating for the company in a research note on Monday, May 5th. Oppenheimer decreased their price target on Shake Shack from $155.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Truist Financial boosted their target price on shares of Shake Shack from $134.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday. Stifel Nicolaus decreased their price objective on Shake Shack from $120.00 to $97.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. Finally, Barclays lowered their target price on shares of Shake Shack from $155.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $113.40.

Shake Shack 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.