Alliancebernstein L.P. Acquires 25,222 Shares of Shake Shack Inc. (NYSE:SHAK)

Alliancebernstein L.P. boosted its holdings in shares of Shake Shack Inc. (NYSE:SHAK) by 60.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,233 shares of the company’s stock after purchasing an additional 25,222 shares during the period. Alliancebernstein L.P.’s holdings in Shake Shack were worth $8,727,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System lifted its position in shares of Shake Shack by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the company’s stock worth $2,518,000 after buying an additional 100 shares during the period. Arizona State Retirement System raised 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 acquiring an additional 182 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Shake Shack by 0.5% during the fourth quarter. New York State Teachers Retirement System now owns 39,225 shares of the company’s stock valued at $5,091,000 after acquiring an additional 200 shares during the period. Xponance Inc. lifted its holdings in shares of Shake Shack by 8.6% during the fourth quarter. Xponance Inc. now owns 2,709 shares of the company’s stock valued at $352,000 after acquiring an additional 215 shares during the period. Finally, DAVENPORT & Co LLC boosted its stake in shares of Shake Shack by 2.0% in the 4th quarter. DAVENPORT & Co LLC now owns 12,186 shares of the company’s stock valued at $1,582,000 after purchasing an additional 240 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Gordon Haskett raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a report on Wednesday, January 8th. Wells Fargo & Company assumed coverage on shares of Shake Shack in a research note on Wednesday, March 26th. They issued an “equal weight” rating and a $95.00 target price for the company. UBS Group increased their price target on Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $125.00 to $159.00 in a research report on Tuesday, January 7th. Finally, Loop Capital upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $121.70.

Shake Shack Stock Performance

Shares of Shake Shack stock opened at $82.19 on Friday. The firm has a fifty day moving average of $97.63 and a two-hundred day moving average of $113.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.98 and a current ratio of 1.97. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 357.36 and a beta of 1.80. Shake Shack Inc. has a 52 week low of $72.93 and a 52 week high of $139.89.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. The business had revenue of $328.68 million during the quarter, compared to the consensus estimate of $329.02 million. As a group, equities research analysts predict that Shake Shack Inc. will post 1.26 EPS for the current year.

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.