Thrivent Financial for Lutherans decreased its position in shares of Shake Shack Inc. (NYSE:SHAK – Get Rating) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,277 shares of the company’s stock after selling 292 shares during the period. Thrivent Financial for Lutherans owned 0.09% of Shake Shack worth $1,590,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Swiss National Bank grew its position in Shake Shack by 1.9% in the fourth quarter. Swiss National Bank now owns 90,100 shares of the company’s stock valued at $3,742,000 after purchasing an additional 1,700 shares in the last quarter. Arizona State Retirement System grew its position in Shake Shack by 4.0% during the fourth quarter. Arizona State Retirement System now owns 10,528 shares of the company’s stock valued at $437,000 after buying an additional 402 shares during the period. Duality Advisers LP bought a new stake in Shake Shack during the fourth quarter valued at about $475,000. Longitude Cayman Ltd. raised its stake in Shake Shack by 8.3% in the fourth quarter. Longitude Cayman Ltd. now owns 26,000 shares of the company’s stock worth $1,080,000 after buying an additional 2,000 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Shake Shack by 670.8% in the fourth quarter. Fisher Asset Management LLC now owns 301,449 shares of the company’s stock valued at $12,519,000 after purchasing an additional 262,339 shares during the last quarter. Institutional investors own 83.55% of the company’s stock.
Analyst Ratings Changes
SHAK has been the subject of a number of research analyst reports. StockNews.com began coverage on shares of Shake Shack in a research report on Thursday. They set a “hold” rating for the company. Wedbush lifted their price objective on shares of Shake Shack from $56.00 to $59.00 in a research report on Friday, May 5th. TheStreet raised shares of Shake Shack from a “d+” rating to a “c-” rating in a research report on Monday, May 15th. BTIG Research lifted their price target on shares of Shake Shack from $65.00 to $75.00 in a research note on Friday, May 5th. Finally, Morgan Stanley upgraded shares of Shake Shack from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $52.00 to $63.00 in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Shake Shack presently has an average rating of “Hold” and an average target price of $63.64.
Shake Shack Price Performance
Shake Shack (NYSE:SHAK – Get Rating) last released its earnings results on Thursday, May 4th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.08. Shake Shack had a negative net margin of 1.63% and a negative return on equity of 1.19%. The firm had revenue of $253.30 million for the quarter, compared to analysts’ expectations of $245.84 million. During the same quarter last year, the company earned ($0.19) EPS. Shake Shack’s quarterly revenue was up 24.5% on a year-over-year basis. Equities research analysts anticipate that Shake Shack Inc. will post 0.12 earnings per share for the current fiscal year.
Shake Shack Profile
Shake Shack, Inc engages in the operation and licensing of Shake Shack restaurants which serve burgers, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and more. The company was founded by Daniel Harris Meyer on September 23, 2014 and is headquartered in New York, NY.
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