Bridgewater Associates LP Reduces Holdings in Shake Shack Inc. (NYSE:SHAK)

Bridgewater Associates LP lowered its position in Shake Shack Inc. (NYSE:SHAK) by 30.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,773 shares of the company’s stock after selling 3,032 shares during the period. Bridgewater Associates LP’s holdings in Shake Shack were worth $879,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SHAK. Invesco Ltd. lifted its position in Shake Shack by 30.7% during the fourth quarter. Invesco Ltd. now owns 1,245,093 shares of the company’s stock worth $161,613,000 after buying an additional 292,348 shares in the last quarter. Cookson Peirce & Co. Inc. acquired a new position in shares of Shake Shack during the 4th quarter valued at about $26,756,000. Norges Bank purchased a new stake in shares of Shake Shack in the fourth quarter valued at about $15,409,000. Fisher Asset Management LLC increased its position in Shake Shack by 27.0% during the fourth quarter. Fisher Asset Management LLC now owns 449,796 shares of the company’s stock worth $58,384,000 after purchasing an additional 95,682 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in Shake Shack by 27.7% during the fourth quarter. Jennison Associates LLC now owns 375,552 shares of the company’s stock worth $48,747,000 after purchasing an additional 81,441 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Performance

NYSE:SHAK opened at $83.57 on Friday. Shake Shack Inc. has a 12 month low of $72.93 and a 12 month high of $139.89. 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 capitalization of $3.55 billion, a PE ratio of 363.35 and a beta of 1.80. The business’s fifty day moving average price is $93.95 and its 200 day moving average price is $112.70.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, February 20th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.01. The business had revenue of $328.68 million for the quarter, compared to analyst estimates of $329.02 million. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. On average, sell-side analysts anticipate that Shake Shack Inc. will post 1.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SHAK has been the topic of several analyst reports. Stifel Nicolaus reduced their price target 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 decreased their price target on Shake Shack from $155.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. TD Securities restated a “buy” rating and issued a $140.00 price objective on shares of Shake Shack in a report on Friday, February 21st. Truist Financial increased their target price on shares of Shake Shack from $143.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $125.00 to $159.00 in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.19.

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.