MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 819 Shares of Shake Shack Inc. (NYSE:SHAK)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Shake Shack Inc. (NYSE:SHAK) by 3.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 21,651 shares of the company’s stock after purchasing an additional 819 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Shake Shack were worth $2,810,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Nemes Rush Group LLC bought a new stake in Shake Shack during the 4th quarter worth approximately $29,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Shake Shack during the 4th quarter valued at $32,000. Transcendent Capital Group LLC purchased a new position in shares of Shake Shack during the 4th quarter valued at $52,000. R Squared Ltd bought a new position in Shake Shack in the 4th quarter worth $56,000. Finally, Montag & Caldwell LLC purchased a new stake in Shake Shack in the 4th quarter worth $68,000. Institutional investors own 86.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Truist Financial upped their price objective on Shake Shack from $134.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Raymond James restated a “strong-buy” rating and set a $140.00 target price (down previously from $145.00) on shares of Shake Shack in a research report on Friday, May 2nd. Wells Fargo & Company initiated coverage on shares of Shake Shack in a report on Wednesday, March 26th. They issued an “equal weight” rating and a $95.00 price target on the stock. Wedbush increased 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. Finally, UBS Group reduced their target price on Shake Shack from $140.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $113.40.

Shake Shack Stock Performance

Shares of Shake Shack stock opened at $117.07 on Wednesday. Shake Shack Inc. has a 52 week low of $72.93 and a 52 week high of $139.89. The stock’s fifty day moving average is $92.49 and its two-hundred day moving average is $111.03. The company has a market capitalization of $5.00 billion, a PE ratio of 509.00 and a beta of 1.61. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The company had revenue of $320.90 million for the quarter, compared to the consensus estimate of $330.24 million. During the same period in the prior year, the firm posted $0.13 EPS. The business’s revenue was up 10.5% on a year-over-year basis. As a group, analysts expect that Shake Shack Inc. will post 1.26 earnings per share for the current year.

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.