HighTower Advisors LLC Boosts Stake in Shake Shack Inc. (NYSE:SHAK)

HighTower Advisors LLC boosted its holdings in shares of Shake Shack Inc. (NYSE:SHAK) by 36.2% in the 4th quarter, Holdings Channel reports. The fund owned 7,619 shares of the company’s stock after acquiring an additional 2,025 shares during the quarter. HighTower Advisors LLC’s holdings in Shake Shack were worth $989,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Louisiana State Employees Retirement System grew its position in shares of Shake Shack by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the company’s stock valued at $2,518,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System boosted its stake in Shake Shack by 1.7% during the fourth quarter. Arizona State Retirement System now owns 11,024 shares of the company’s stock worth $1,431,000 after buying an additional 182 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in Shake Shack by 1.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock valued at $1,372,000 after buying an additional 199 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Shake Shack by 0.5% in 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 last quarter. Finally, DAVENPORT & Co LLC raised its holdings in shares of Shake Shack by 2.0% during the 4th quarter. DAVENPORT & Co LLC now owns 12,186 shares of the company’s stock worth $1,582,000 after acquiring an additional 240 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SHAK. Wedbush raised their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Truist Financial raised their price target on shares of Shake Shack from $143.00 to $154.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $125.00 to $159.00 in a report on Tuesday, January 7th. Oppenheimer raised their target price on Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased their price target on Shake Shack from $107.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $124.05.

Shake Shack Stock Performance

Shares of SHAK stock opened at $93.24 on Thursday. Shake Shack Inc. has a 52 week low of $77.50 and a 52 week high of $139.89. The firm has a 50 day moving average of $106.33 and a two-hundred day moving average of $115.26. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $3.97 billion, a PE ratio of 405.38 and a beta of 1.89.

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