Legal & General Group Plc Sells 2,675 Shares of Shake Shack Inc. (NYSE:SHAK)

Legal & General Group Plc trimmed its holdings in Shake Shack Inc. (NYSE:SHAK) by 2.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,690 shares of the company’s stock after selling 2,675 shares during the quarter. Legal & General Group Plc’s holdings in Shake Shack were worth $14,368,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SHAK. Invesco Ltd. lifted its stake in Shake Shack by 30.7% in the 4th 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 in the last quarter. Quadrant Capital Group LLC boosted its stake in Shake Shack by 5.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,870 shares of the company’s stock valued at $243,000 after buying an additional 100 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Shake Shack by 8.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 10,289 shares of the company’s stock valued at $1,336,000 after acquiring an additional 790 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Shake Shack during the 4th quarter worth about $1,499,000. Finally, ExodusPoint Capital Management LP purchased a new position in shares of Shake Shack in the 4th quarter valued at $4,181,000. Institutional investors own 86.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on SHAK. 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 for the company. Stifel Nicolaus dropped their target price on Shake Shack from $120.00 to $97.00 and set a “hold” rating on the stock in a research report on Tuesday. Gordon Haskett raised shares of 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. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $125.00 to $159.00 in a report on Tuesday, January 7th. Finally, UBS Group raised their price objective on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Shake Shack currently has an average rating of “Hold” and an average target price of $121.05.

Shake Shack Trading Down 0.6 %

NYSE SHAK opened at $82.49 on Wednesday. Shake Shack Inc. has a 52 week low of $72.93 and a 52 week high of $139.89. The firm has a 50 day moving average of $95.58 and a two-hundred day moving average of $113.13. 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 stock has a market capitalization of $3.51 billion, a PE ratio of 358.67 and a beta of 1.80.

Shake Shack (NYSE:SHAK) last posted 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 firm 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, research analysts expect that Shake Shack Inc. will post 1.26 EPS for the current fiscal year.

Shake Shack 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.