Point72 Asset Management L.P. Sells 292,925 Shares of Shake Shack Inc. (NYSE:SHAK)

Point72 Asset Management L.P. decreased its stake in Shake Shack Inc. (NYSE:SHAK) by 45.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 357,760 shares of the company’s stock after selling 292,925 shares during the quarter. Point72 Asset Management L.P.’s holdings in Shake Shack were worth $46,437,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nemes Rush Group LLC acquired a new position in Shake Shack in the 4th quarter worth about $29,000. Harvest Fund Management Co. Ltd acquired a new position in Shake Shack during the 4th quarter worth about $32,000. Transcendent Capital Group LLC acquired a new position in Shake Shack during the 4th quarter worth about $52,000. R Squared Ltd bought a new position in Shake Shack during the 4th quarter worth approximately $56,000. Finally, Montag & Caldwell LLC acquired a new stake in Shake Shack during the 4th quarter worth about $68,000. Institutional investors own 86.07% of the company’s stock.

Wall Street Analysts Forecast Growth

SHAK has been the topic of a number of research analyst reports. Stifel Nicolaus cut their price target on Shake Shack from $120.00 to $97.00 and set a “hold” rating on the stock in a report on Tuesday, April 15th. Truist Financial upped their price objective on shares of Shake Shack from $134.00 to $140.00 and gave the company a “buy” rating in a report on Thursday. Raymond James reiterated a “strong-buy” rating and set a $140.00 price objective (down previously from $145.00) on shares of Shake Shack in a report on Friday, May 2nd. Loop Capital upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a report on Tuesday, April 1st. Finally, Robert W. Baird boosted their price objective on Shake Shack from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.40.

Shake Shack Stock Performance

Shares of SHAK stock opened at $117.04 on Friday. The firm has a 50-day moving average of $90.56 and a 200-day moving average of $111.14. The company has a market cap of $4.98 billion, a P/E ratio of 508.87 and a beta of 1.61. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98. Shake Shack Inc. has a one year low of $72.93 and a one year high of $139.89.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 earnings per share. Equities research analysts forecast 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.