Gotham Asset Management LLC Raises Holdings in Shake Shack Inc. (NYSE:SHAK)

Gotham Asset Management LLC grew its stake in Shake Shack Inc. (NYSE:SHAK) by 75.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,622 shares of the company’s stock after buying an additional 1,989 shares during the quarter. Gotham Asset Management LLC’s holdings in Shake Shack were worth $600,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cascade Investment Group Inc. purchased a new position in Shake Shack in the fourth quarter valued at $221,000. Harbor Investment Advisory LLC acquired a new position in shares of Shake Shack during the 4th quarter worth about $149,000. KBC Group NV increased its holdings in shares of Shake Shack by 50.0% in the 4th quarter. KBC Group NV now owns 1,809 shares of the company’s stock valued at $235,000 after acquiring an additional 603 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Shake Shack during the 4th quarter worth about $56,000. Finally, DAVENPORT & Co LLC raised its position 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 in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Shake Shack Stock Performance

NYSE:SHAK opened at $119.23 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 518.39 and a beta of 1.61. The firm’s fifty day moving average price is $91.21 and its 200 day moving average price is $111.03. Shake Shack Inc. has a 1-year low of $72.93 and a 1-year high of $139.89.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, May 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The firm had revenue of $320.90 million during the quarter, compared to analysts’ expectations of $330.24 million. During the same period in the previous year, the firm earned $0.13 EPS. The firm’s revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts expect that Shake Shack Inc. will post 1.26 EPS for the current year.

Wall Street Analysts Forecast Growth

SHAK has been the topic of several recent analyst reports. UBS Group dropped their price target on shares of Shake Shack from $140.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Stifel Nicolaus dropped their target price on shares of Shake Shack from $120.00 to $97.00 and set a “hold” rating on the stock in a research report on Tuesday, April 15th. Oppenheimer reduced their price target on shares of Shake Shack from $155.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Loop Capital upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a research note on Tuesday, April 1st. Finally, Truist Financial lifted their target price on Shake Shack from $134.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $114.40.

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.