Alliancebernstein L.P. Has $8.73 Million Stock Holdings in Shake Shack Inc. (NYSE:SHAK)

Alliancebernstein L.P. raised its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 60.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,233 shares of the company’s stock after buying an additional 25,222 shares during the period. Alliancebernstein L.P. owned about 0.16% of Shake Shack worth $8,727,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Louisiana State Employees Retirement System raised its holdings in shares of Shake Shack by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the company’s stock worth $2,518,000 after acquiring an additional 100 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Shake Shack by 1.7% during the 4th quarter. Arizona State Retirement System now owns 11,024 shares of the company’s stock worth $1,431,000 after purchasing 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 4th quarter. New York State Teachers Retirement System now owns 39,225 shares of the company’s stock valued at $5,091,000 after buying an additional 200 shares during the last quarter. Xponance Inc. grew its stake in shares of Shake Shack by 8.6% in the 4th quarter. Xponance Inc. now owns 2,709 shares of the company’s stock valued at $352,000 after buying an additional 215 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its holdings in Shake Shack by 2.0% in the fourth quarter. DAVENPORT & Co LLC now owns 12,186 shares of the company’s stock worth $1,582,000 after buying an additional 240 shares during the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Shake Shack Stock Performance

NYSE:SHAK opened at $82.19 on Friday. The firm’s 50-day moving average is $97.63 and its 200-day moving average is $113.61. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 357.36 and a beta of 1.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.98 and a current ratio of 1.97. Shake Shack Inc. has a 52-week low of $72.93 and a 52-week high of $139.89.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SHAK. Oppenheimer reduced their target price on shares of Shake Shack from $155.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday. 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 report on Tuesday, April 1st. Truist Financial raised their target price on Shake Shack from $143.00 to $154.00 and gave the company a “buy” rating in a report on Friday, February 21st. Wells Fargo & Company initiated coverage on Shake Shack in a research note on Wednesday, March 26th. They set an “equal weight” rating and a $95.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Shake Shack from $107.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $121.70.

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.