CI Investments Inc. Acquires 23,133 Shares of Shake Shack, Inc. $SHAK

CI Investments Inc. increased its holdings in Shake Shack, Inc. (NYSE:SHAK) by 34.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,061 shares of the company’s stock after acquiring an additional 23,133 shares during the period. CI Investments Inc. owned about 0.21% of Shake Shack worth $8,524,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Geneos Wealth Management Inc. purchased a new stake in shares of Shake Shack in the first quarter worth approximately $26,000. Global Retirement Partners LLC grew its holdings in Shake Shack by 83.7% during the third quarter. Global Retirement Partners LLC now owns 327 shares of the company’s stock worth $31,000 after buying an additional 149 shares in the last quarter. Murphy & Mullick Capital Management Corp grew its holdings in Shake Shack by 68.5% during the third quarter. Murphy & Mullick Capital Management Corp now owns 418 shares of the company’s stock worth $38,000 after buying an additional 170 shares in the last quarter. Quantbot Technologies LP raised its position in Shake Shack by 296.3% in the 3rd quarter. Quantbot Technologies LP now owns 963 shares of the company’s stock valued at $90,000 after buying an additional 720 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Shake Shack by 12.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 964 shares of the company’s stock valued at $91,000 after acquiring an additional 107 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SHAK shares. Truist Financial upped their target price on shares of Shake Shack from $144.00 to $148.00 and gave the stock a “buy” rating in a research note on Monday. Robert W. Baird boosted their price target on shares of Shake Shack from $104.00 to $108.00 and gave the stock a “neutral” rating in a report on Friday, February 27th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Shake Shack in a research report on Tuesday, November 25th. JPMorgan Chase & Co. raised shares of Shake Shack from an “underweight” rating to a “neutral” rating and dropped their target price for the stock from $95.00 to $90.00 in a research report on Thursday, December 18th. Finally, Zacks Research downgraded Shake Shack from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $116.15.

Shake Shack Stock Performance

Shares of SHAK stock opened at $97.30 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.76. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 89.27, a P/E/G ratio of 5.15 and a beta of 1.73. Shake Shack, Inc. has a 52 week low of $72.93 and a 52 week high of $144.65. The firm’s 50-day simple moving average is $91.84 and its two-hundred day simple moving average is $92.48.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, February 26th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $400.53 million during the quarter, compared to the consensus estimate of $402.06 million. Shake Shack had a net margin of 3.16% and a return on equity of 11.08%. The company’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. As a group, equities analysts forecast that Shake Shack, Inc. will post 1.26 earnings per share for the current year.

Shake Shack Profile

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.