Shake Shack Inc. (NYSE:SHAK) Shares Purchased by Summit Financial LLC

Summit Financial LLC raised its holdings in Shake Shack Inc. (NYSE:SHAK) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,083 shares of the company’s stock after purchasing an additional 139 shares during the period. Summit Financial LLC’s holdings in Shake Shack were worth $1,698,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SHAK. Vanguard Group Inc. raised its stake in Shake Shack by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company’s stock valued at $574,497,000 after buying an additional 49,883 shares in the last quarter. State Street Corp raised its position in shares of Shake Shack by 3.5% during the 3rd quarter. State Street Corp now owns 1,452,736 shares of the company’s stock valued at $149,937,000 after acquiring an additional 49,324 shares in the last quarter. Geode Capital Management LLC lifted its stake in Shake Shack by 3.1% during the third quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock worth $90,470,000 after purchasing an additional 26,620 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Shake Shack by 154.8% in the third quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock worth $67,157,000 after purchasing an additional 395,311 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Shake Shack by 27.0% during the fourth quarter. Fisher Asset Management LLC now owns 449,796 shares of the company’s stock valued at $58,384,000 after purchasing an additional 95,682 shares during the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SHAK shares. Wells Fargo & Company started coverage on Shake Shack in a report on Wednesday, March 26th. They set an “equal weight” rating and a $95.00 target price for the company. Truist Financial increased their target price on Shake Shack from $143.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Oppenheimer boosted their price target on shares of Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. UBS Group increased their price objective on shares of Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Shake Shack from $107.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $124.20.

Shake Shack Trading Up 3.2 %

Shares of SHAK stock opened at $90.95 on Wednesday. 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 stock has a 50-day simple moving average of $104.20 and a 200 day simple moving average of $115.12. Shake Shack Inc. has a fifty-two week low of $77.50 and a fifty-two week high of $139.89. The stock has a market capitalization of $3.87 billion, a P/E ratio of 395.45 and a beta of 1.89.

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

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.