Canada Pension Plan Investment Board Increases Stock Position in Shake Shack Inc. (NYSE:SHAK)

Canada Pension Plan Investment Board raised its position in shares of Shake Shack Inc. (NYSE:SHAK - Free Report) by 18.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,000 shares of the company's stock after acquiring an additional 14,900 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.22% of Shake Shack worth $12,201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SHAK. Nemes Rush Group LLC purchased a new position in Shake Shack in the 4th quarter valued at $29,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Shake Shack in the fourth quarter worth about $32,000. Transcendent Capital Group LLC acquired a new position in Shake Shack during the fourth quarter worth about $52,000. R Squared Ltd purchased a new stake in Shake Shack during the 4th quarter valued at about $56,000. Finally, Montag & Caldwell LLC acquired a new stake in Shake Shack in the 4th quarter valued at about $68,000. Hedge funds and other institutional investors own 86.07% of the company's stock.

Shake Shack Stock Performance

SHAK stock traded up $0.75 during trading on Friday, hitting $90.72. The company had a trading volume of 818,282 shares, compared to its average volume of 1,073,129. Shake Shack Inc. has a 1-year low of $72.93 and a 1-year high of $139.89. The firm has a 50-day moving average price of $91.70 and a 200-day moving average price of $111.96. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50. The firm has a market cap of $3.86 billion, a PE ratio of 394.43 and a beta of 1.80.

Shake Shack (NYSE:SHAK - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.25 by $0.01. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. The business had revenue of $328.68 million during the quarter, compared to analysts' expectations of $329.02 million. On average, analysts expect that Shake Shack Inc. will post 1.26 earnings per share for the current year.

Analysts Set New Price Targets

SHAK has been the subject of a number of analyst reports. UBS Group upped their price target on Shake Shack from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Robert W. Baird cut their target price on Shake Shack from $98.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Oppenheimer reduced their price target on Shake Shack from $155.00 to $125.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Loop Capital raised shares of Shake Shack from a "hold" rating to a "buy" rating and set a $127.00 price objective for the company in a report on Tuesday, April 1st. Finally, Truist Financial reduced their target price on shares of Shake Shack from $154.00 to $131.00 and set a "buy" rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Shake Shack has an average rating of "Moderate Buy" and a consensus price target of $118.29.

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.