Fred Alger Management LLC lessened its holdings in Shake Shack Inc. (NYSE:SHAK - Free Report) by 8.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 115,498 shares of the company's stock after selling 10,354 shares during the period. Fred Alger Management LLC owned 0.27% of Shake Shack worth $14,992,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Nemes Rush Group LLC purchased a new stake in shares of Shake Shack in the fourth quarter valued at about $29,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Shake Shack in the fourth quarter valued at about $32,000. Transcendent Capital Group LLC purchased a new stake in shares of Shake Shack in the fourth quarter valued at about $52,000. R Squared Ltd purchased a new stake in shares of Shake Shack in the fourth quarter valued at about $56,000. Finally, Montag & Caldwell LLC purchased a new stake in shares of Shake Shack in the fourth quarter valued at about $68,000. Hedge funds and other institutional investors own 86.07% of the company's stock.
Shake Shack Trading Up 1.5%
SHAK stock traded up $1.60 on Friday, hitting $104.92. 1,218,403 shares of the company were exchanged, compared to its average volume of 1,119,703. Shake Shack Inc. has a twelve month low of $72.93 and a twelve month high of $139.89. 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 business's fifty day moving average is $88.83 and its two-hundred day moving average is $111.05. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 456.17 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 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 analyst estimates of $330.24 million. During the same period last year, the company posted $0.13 EPS. The business's revenue for the quarter was up 10.5% on a year-over-year basis. As a group, research analysts forecast that Shake Shack Inc. will post 1.26 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on SHAK. JPMorgan Chase & Co. reduced their price target on shares of Shake Shack from $105.00 to $100.00 and set an "underweight" rating on the stock in a report on Monday, May 5th. Barclays reduced their price objective on shares of Shake Shack from $155.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Raymond James reissued a "strong-buy" rating and set a $140.00 price objective (down previously from $145.00) on shares of Shake Shack in a research note on Friday, May 2nd. Oppenheimer reduced their price objective on shares of Shake Shack from $155.00 to $125.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Wedbush upped their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the company a "neutral" rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $113.95.
Check Out Our Latest Report on Shake Shack
About Shake Shack
(
Free Report)
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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