Cerity Partners LLC Sells 912 Shares of Shake Shack Inc. (NYSE:SHAK)

Cerity Partners LLC lessened its holdings in shares of Shake Shack Inc. (NYSE:SHAK) by 24.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,747 shares of the company’s stock after selling 912 shares during the quarter. Cerity Partners LLC’s holdings in Shake Shack were worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its holdings in Shake Shack by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the company’s stock worth $2,518,000 after purchasing an additional 100 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Shake Shack by 5.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,870 shares of the company’s stock worth $243,000 after buying an additional 100 shares in the last quarter. Summit Financial LLC lifted its holdings in Shake Shack by 1.1% in the fourth quarter. Summit Financial LLC now owns 13,083 shares of the company’s stock worth $1,698,000 after buying an additional 139 shares during the period. Arizona State Retirement System boosted its position in Shake Shack by 1.7% during the 4th quarter. Arizona State Retirement System now owns 11,024 shares of the company’s stock valued at $1,431,000 after acquiring an additional 182 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Shake Shack by 0.5% during the 4th quarter. New York State Teachers Retirement System now owns 39,225 shares of the company’s stock worth $5,091,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Gordon Haskett upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a research note on Wednesday, January 8th. Raymond James set a $145.00 price objective on Shake Shack and gave the company a “strong-buy” rating in a research report on Wednesday, April 16th. TD Securities reaffirmed a “buy” rating and issued a $140.00 target price on shares of Shake Shack in a research report on Friday, February 21st. Loop Capital raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a research report on Tuesday, April 1st. Finally, Barclays cut their price objective on shares of Shake Shack from $155.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.29.

Shake Shack Stock Up 3.4 %

SHAK opened at $85.27 on Wednesday. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 370.74 and a beta of 1.80. The firm has a 50 day moving average price of $92.99 and a 200-day moving average price of $112.37. Shake Shack Inc. has a twelve month low of $72.93 and a twelve month high of $139.89. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50.

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