Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Shake Shack Inc. (NYSE:SHAK)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Shake Shack Inc. (NYSE:SHAK) by 18.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,234 shares of the company’s stock after acquiring an additional 1,561 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Shake Shack were worth $1,328,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SHAK. Point72 Asset Management L.P. boosted its stake in shares of Shake Shack by 154.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock worth $67,157,000 after acquiring an additional 395,311 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Shake Shack during the 3rd quarter worth approximately $39,677,000. Holocene Advisors LP raised its position in shares of Shake Shack by 68.3% during the 3rd quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock worth $97,673,000 after purchasing an additional 384,131 shares during the last quarter. Cookson Peirce & Co. Inc. acquired a new position in shares of Shake Shack during the 4th quarter worth approximately $26,756,000. Finally, Paloma Partners Management Co acquired a new position in shares of Shake Shack during the 3rd quarter worth approximately $18,626,000. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Down 2.6 %

Shares of NYSE SHAK opened at $85.77 on Wednesday. Shake Shack Inc. has a 52-week low of $77.50 and a 52-week high of $139.89. The firm has a fifty day moving average of $110.24 and a 200-day moving average of $115.58. The stock has a market capitalization of $3.65 billion, a PE ratio of 372.93 and a beta of 1.89. 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 announced its quarterly earnings results on Thursday, February 20th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The firm had revenue of $328.68 million during the quarter, compared to analysts’ expectations of $329.02 million. On average, analysts anticipate that Shake Shack Inc. will post 1.26 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SHAK shares. Stifel Nicolaus cut their price objective on Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a research report on Friday, January 17th. Gordon Haskett upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price objective for the company in a research report on Wednesday, January 8th. TD Securities restated a “buy” rating and set a $140.00 price objective on shares of Shake Shack in a research report on Friday, February 21st. Truist Financial lifted their price objective on Shake Shack from $143.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Oppenheimer boosted their price target on Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Shake Shack has an average rating of “Hold” and an average target price of $125.50.

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.