Shake Shack Inc. (NYSE:SHAK) Stake Lowered by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in shares of Shake Shack Inc. (NYSE:SHAK – Get Rating) by 18.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,455 shares of the company’s stock after selling 6,075 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of Shake Shack worth $1,099,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Shake Shack by 1.2% during the first quarter. Vanguard Group Inc. now owns 4,071,207 shares of the company’s stock valued at $276,435,000 after purchasing an additional 48,614 shares during the last quarter. State Street Corp increased its position in shares of Shake Shack by 1.1% during the 2nd quarter. State Street Corp now owns 1,281,413 shares of the company’s stock valued at $50,590,000 after purchasing an additional 14,267 shares during the period. Balyasny Asset Management LLC increased its position in shares of Shake Shack by 61.8% during the 3rd quarter. Balyasny Asset Management LLC now owns 821,070 shares of the company’s stock valued at $36,932,000 after purchasing an additional 313,623 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Shake Shack by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 631,309 shares of the company’s stock valued at $28,398,000 after purchasing an additional 5,253 shares during the period. Finally, Interval Partners LP acquired a new position in shares of Shake Shack during the 3rd quarter valued at $19,656,000. 83.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SHAK shares. Stifel Nicolaus lifted their target price on Shake Shack from $50.00 to $65.00 in a report on Wednesday, May 17th. Morgan Stanley raised Shake Shack from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $52.00 to $63.00 in a research report on Friday, May 19th. BTIG Research lifted their price objective on Shake Shack from $65.00 to $75.00 in a research report on Friday, May 5th. Truist Financial lifted their price objective on Shake Shack from $68.00 to $75.00 in a research report on Friday, May 5th. Finally, Wedbush raised their target price on Shake Shack from $56.00 to $59.00 in a report on Friday, May 5th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Shake Shack presently has a consensus rating of “Hold” and an average price target of $63.64.

Shake Shack Trading Up 0.9 %

Shake Shack stock opened at $65.84 on Thursday. The firm has a 50-day moving average of $58.27 and a 200-day moving average of $54.24. Shake Shack Inc. has a one year low of $37.72 and a one year high of $71.93. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.31 and a quick ratio of 2.28. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -168.82 and a beta of 1.69.

Shake Shack (NYSE:SHAK – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $253.30 million during the quarter, compared to the consensus estimate of $245.84 million. During the same period in the prior year, the business posted ($0.19) EPS. The company’s quarterly revenue was up 24.5% on a year-over-year basis. On average, equities analysts expect that Shake Shack Inc. will post 0.13 earnings per share for the current fiscal year.

Shake Shack Profile

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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.