Bridgewater Associates LP Sells 3,032 Shares of Shake Shack Inc. (NYSE:SHAK)

Bridgewater Associates LP lowered its holdings in Shake Shack Inc. (NYSE:SHAK) by 30.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,773 shares of the company’s stock after selling 3,032 shares during the quarter. Bridgewater Associates LP’s holdings in Shake Shack were worth $879,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SHAK. GDS Wealth Management increased its holdings in shares of Shake Shack by 253.6% in the 4th quarter. GDS Wealth Management now owns 14,277 shares of the company’s stock valued at $1,853,000 after acquiring an additional 10,239 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Shake Shack by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,930 shares of the company’s stock valued at $46,979,000 after purchasing an additional 8,429 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in Shake Shack in the fourth quarter valued at about $260,000. Assenagon Asset Management S.A. raised its holdings in Shake Shack by 45.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 152,264 shares of the company’s stock worth $19,764,000 after purchasing an additional 47,906 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Shake Shack by 0.3% during the fourth quarter. Rhumbline Advisers now owns 106,129 shares of the company’s stock valued at $13,776,000 after buying an additional 278 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wedbush lifted their price target on shares of Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. 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 note on Friday, February 21st. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $125.00 to $159.00 in a research note on Tuesday, January 7th. TD Securities restated a “buy” rating and set a $140.00 price target on shares of Shake Shack in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Shake Shack from $107.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.19.

Shake Shack Trading Up 3.9 %

SHAK stock opened at $83.57 on Friday. Shake Shack Inc. has a 52-week low of $72.93 and a 52-week high of $139.89. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50. The firm has a market cap of $3.55 billion, a P/E ratio of 363.35 and a beta of 1.80. The company’s 50-day simple moving average is $93.95 and its 200-day simple moving average is $112.70.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.25 by $0.01. The company 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%. As a group, equities analysts forecast that Shake Shack Inc. will post 1.26 EPS for the current fiscal 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.