Pittenger & Anderson Inc. Acquires Shares of 1,530 Shake Shack Inc. (NYSE:SHAK)

Pittenger & Anderson Inc. bought a new position in shares of Shake Shack Inc. (NYSE:SHAK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,530 shares of the company’s stock, valued at approximately $199,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHAK. Point72 Asset Management L.P. grew its holdings in Shake Shack by 154.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock worth $67,157,000 after acquiring an additional 395,311 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Shake Shack during the third quarter valued at approximately $39,677,000. Holocene Advisors LP increased its holdings in shares of Shake Shack by 68.3% in the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock valued at $97,673,000 after purchasing an additional 384,131 shares in the last quarter. Paloma Partners Management Co bought a new position in Shake Shack in the 3rd quarter worth approximately $18,626,000. Finally, Jennison Associates LLC lifted its holdings in Shake Shack by 27.7% during the 4th quarter. Jennison Associates LLC now owns 375,552 shares of the company’s stock worth $48,747,000 after buying an additional 81,441 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total value of $88,281.42. Following the completion of the transaction, the chief financial officer now owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.73% of the stock is owned by corporate insiders.

Shake Shack Price Performance

SHAK stock opened at $108.68 on Tuesday. The stock has a 50-day moving average price of $123.34 and a two-hundred day moving average price of $116.01. Shake Shack Inc. has a 1 year low of $77.50 and a 1 year high of $139.89. The stock has a market cap of $4.62 billion, a PE ratio of 639.27 and a beta of 1.86. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SHAK shares. 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 note on Tuesday, January 7th. Wedbush reaffirmed a “neutral” rating and issued a $130.00 target price on shares of Shake Shack in a research note on Wednesday, January 15th. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $125.00 to $159.00 in a research note on Tuesday, January 7th. Stifel Nicolaus reduced their price objective on shares of Shake Shack from $128.00 to $110.00 and set a “hold” rating on the stock in a research note on Friday, January 17th. Finally, Gordon Haskett raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $124.29.

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.