T. Rowe Price Investment Management Inc. Trims Holdings in Shake Shack Inc. (NYSE:SHAK)

T. Rowe Price Investment Management Inc. lessened its holdings in Shake Shack Inc. (NYSE:SHAK - Free Report) by 9.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 728,648 shares of the company's stock after selling 74,225 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 1.72% of Shake Shack worth $94,579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. MGO One Seven LLC purchased a new stake in Shake Shack during the fourth quarter worth approximately $862,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Shake Shack by 14.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,837 shares of the company's stock worth $3,354,000 after purchasing an additional 3,306 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Shake Shack by 17.0% during the fourth quarter. Hsbc Holdings PLC now owns 8,332 shares of the company's stock worth $1,090,000 after purchasing an additional 1,212 shares in the last quarter. State of Tennessee Department of Treasury lifted its holdings in shares of Shake Shack by 15.3% in the 4th quarter. State of Tennessee Department of Treasury now owns 16,999 shares of the company's stock valued at $2,206,000 after purchasing an additional 2,250 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Shake Shack by 4.6% in the 4th quarter. MetLife Investment Management LLC now owns 22,956 shares of the company's stock valued at $2,980,000 after purchasing an additional 1,013 shares during the period. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Shake Shack Price Performance

Shares of NYSE:SHAK traded down $1.25 during midday trading on Wednesday, hitting $87.01. 583,736 shares of the stock were exchanged, compared to its average volume of 1,077,121. Shake Shack Inc. has a twelve month low of $72.93 and a twelve month high of $139.89. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average price of $90.56 and a 200-day moving average price of $111.71. The stock has a market cap of $3.70 billion, a P/E ratio of 378.30 and a beta of 1.80.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Shake Shack from $107.00 to $105.00 and set an "underweight" rating for the company in a report on Thursday, March 20th. Wells Fargo & Company initiated coverage on shares of Shake Shack in a research note on Wednesday, March 26th. They issued an "equal weight" rating and a $95.00 price objective on the stock. Stifel Nicolaus decreased their target price on shares of Shake Shack from $120.00 to $97.00 and set a "hold" rating for the company in a research note on Tuesday, April 15th. TD Securities restated a "buy" rating and issued a $140.00 price target on shares of Shake Shack in a research report on Friday, February 21st. Finally, Barclays decreased their price objective on Shake Shack from $155.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $116.38.

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.