Cetera Investment Advisers Invests $254,000 in Shake Shack Inc. (NYSE:SHAK)

Cetera Investment Advisers purchased a new position in Shake Shack Inc. (NYSE:SHAK) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,960 shares of the company’s stock, valued at approximately $254,000.

Several other institutional investors have also recently added to or reduced their stakes in SHAK. Vanguard Group Inc. increased its position in Shake Shack by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company’s stock worth $574,497,000 after purchasing an additional 49,883 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Shake Shack by 30.7% during the 4th quarter. Invesco Ltd. now owns 1,245,093 shares of the company’s stock worth $161,613,000 after buying an additional 292,348 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Shake Shack by 17.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company’s stock worth $116,078,000 after buying an additional 134,475 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Shake Shack by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 760,595 shares of the company’s stock worth $98,726,000 after buying an additional 19,320 shares during the last quarter. Finally, Wasatch Advisors LP increased its holdings in shares of Shake Shack by 1.8% during the 4th quarter. Wasatch Advisors LP now owns 566,425 shares of the company’s stock worth $73,522,000 after buying an additional 10,147 shares during the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Shake Shack from $105.00 to $100.00 and set an “underweight” rating for the company in a research note on Monday, May 5th. TD Securities reiterated a “hold” rating and issued a $105.00 target price on shares of Shake Shack in a research report on Monday, May 19th. Robert W. Baird lifted their price target on shares of Shake Shack from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Stifel Nicolaus reduced their price target on shares of Shake Shack from $120.00 to $97.00 and set a “hold” rating for the company in a report on Tuesday, April 15th. Finally, Raymond James reiterated a “strong-buy” rating and set a $140.00 price objective (down from $145.00) on shares of Shake Shack in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $114.40.

Shake Shack Stock Performance

NYSE SHAK opened at $129.93 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average price is $97.56 and its two-hundred day moving average price is $110.62. The firm has a market capitalization of $5.54 billion, a P/E ratio of 564.91 and a beta of 1.61. Shake Shack Inc. has a 1 year low of $72.93 and a 1 year high of $139.89.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The business had revenue of $320.90 million during the quarter, compared to the consensus estimate of $330.24 million. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the company posted $0.13 EPS. As a group, research analysts anticipate that Shake Shack Inc. will post 1.26 EPS for the current year.

Shake Shack Company 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.