First Trust Advisors LP Acquires 11,333 Shares of Shake Shack Inc. (NYSE:SHAK)

First Trust Advisors LP boosted its holdings in Shake Shack Inc. (NYSE:SHAK) by 29.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,936 shares of the company’s stock after buying an additional 11,333 shares during the period. First Trust Advisors LP’s holdings in Shake Shack were worth $6,482,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Nemes Rush Group LLC bought a new position in Shake Shack during the fourth quarter worth $29,000. Harvest Fund Management Co. Ltd acquired a new stake in Shake Shack in the 4th quarter worth $32,000. Transcendent Capital Group LLC bought a new position in shares of Shake Shack during the 4th quarter worth about $52,000. R Squared Ltd acquired a new position in shares of Shake Shack during the fourth quarter valued at about $56,000. Finally, Montag & Caldwell LLC bought a new stake in shares of Shake Shack in the fourth quarter valued at about $68,000. 86.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

SHAK has been the subject of several recent research reports. Gordon Haskett raised 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. Robert W. Baird reduced their target price on Shake Shack from $98.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Stifel Nicolaus lowered their price target on shares of Shake Shack from $120.00 to $97.00 and set a “hold” rating on the stock in a report on Tuesday, April 15th. Truist Financial reduced their price objective on shares of Shake Shack from $154.00 to $131.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Finally, Wedbush upped their target price on shares of Shake Shack from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shake Shack currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.38.

Shake Shack Price Performance

SHAK opened at $88.25 on Wednesday. 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 stock has a market capitalization of $3.75 billion, a P/E ratio of 383.70 and a beta of 1.80. The company’s 50 day simple moving average is $90.56 and its 200-day simple moving average is $111.71. Shake Shack Inc. has a one year low of $72.93 and a one year high of $139.89.

Shake Shack (NYSE:SHAK) last released its 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. The company had revenue of $328.68 million during the quarter, compared to analysts’ expectations of $329.02 million. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. Sell-side analysts anticipate that Shake Shack Inc. will post 1.26 earnings per share 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.