12 West Capital Management LP Cuts Holdings in Shake Shack Inc. (NYSE:SHAK)

12 West Capital Management LP reduced its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,764,118 shares of the company’s stock after selling 28,981 shares during the quarter. Shake Shack makes up about 24.0% of 12 West Capital Management LP’s holdings, making the stock its biggest holding. 12 West Capital Management LP owned about 4.15% of Shake Shack worth $228,983,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SHAK. Invesco Ltd. grew its holdings in Shake Shack by 30.7% in the fourth quarter. Invesco Ltd. now owns 1,245,093 shares of the company’s stock worth $161,613,000 after purchasing an additional 292,348 shares during the period. Cookson Peirce & Co. Inc. purchased a new stake in shares of Shake Shack in the 4th quarter worth approximately $26,756,000. Norges Bank purchased a new stake in shares of Shake Shack in the 4th quarter worth approximately $15,409,000. Fisher Asset Management LLC increased its position in Shake Shack by 27.0% during the 4th quarter. Fisher Asset Management LLC now owns 449,796 shares of the company’s stock valued at $58,384,000 after buying an additional 95,682 shares in 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 valued at $48,747,000 after buying an additional 81,441 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on SHAK shares. Oppenheimer reduced their target price on Shake Shack from $155.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday. Stifel Nicolaus reduced their price objective on Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a report on Friday, January 17th. Truist Financial boosted their target price on Shake Shack from $143.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $125.00 to $159.00 in a report on Tuesday, January 7th. Finally, Wedbush boosted their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Shake Shack has a consensus rating of “Hold” and an average target price of $121.70.

Shake Shack Trading Up 0.5 %

Shares of SHAK stock opened at $82.59 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50. Shake Shack Inc. has a twelve month low of $72.93 and a twelve month high of $139.89. The company’s 50-day moving average price is $96.89 and its 200-day moving average price is $113.45. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 359.07 and a beta of 1.80.

Shake Shack (NYSE:SHAK) last announced 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 business had revenue of $328.68 million for the quarter, compared to analyst estimates of $329.02 million. As a group, equities analysts predict that Shake Shack Inc. will post 1.26 earnings per share for the current year.

About Shake Shack

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.