Shake Shack Inc. (NYSE:SHAK) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in Shake Shack Inc. (NYSE:SHAK) by 37.2% during the 4th quarter, Holdings Channel reports. The firm owned 8,154 shares of the company’s stock after selling 4,823 shares during the quarter. Victory Capital Management Inc.’s holdings in Shake Shack were worth $1,058,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp grew its holdings in Shake Shack by 3.5% in the third quarter. State Street Corp now owns 1,452,736 shares of the company’s stock valued at $149,937,000 after purchasing an additional 49,324 shares during the period. Holocene Advisors LP grew its holdings in Shake Shack by 68.3% in the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock valued at $97,673,000 after purchasing an additional 384,131 shares during the period. Geode Capital Management LLC grew its holdings in Shake Shack by 3.1% in the third quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock valued at $90,470,000 after purchasing an additional 26,620 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Shake Shack by 154.8% in the third quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock worth $67,157,000 after acquiring an additional 395,311 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its stake in shares of Shake Shack by 4.7% in the third quarter. Champlain Investment Partners LLC now owns 614,747 shares of the company’s stock worth $63,448,000 after acquiring an additional 27,707 shares during the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Shake Shack Stock Performance

Shares of Shake Shack stock opened at $90.67 on Friday. Shake Shack Inc. has a one year low of $77.50 and a one year high of $139.89. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 394.20 and a beta of 1.89. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.98 and a current ratio of 1.97. The business’s 50 day moving average price is $108.54 and its 200 day moving average price is $115.23.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, February 20th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. The company had revenue of $328.68 million for the quarter, compared to the consensus estimate of $329.02 million. On average, research analysts predict that Shake Shack Inc. will post 1.26 EPS for the current year.

Analyst Upgrades and Downgrades

SHAK has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their price target on Shake Shack from $128.00 to $110.00 and set a “hold” rating on the stock in a research note on Friday, January 17th. Truist Financial lifted their price target on Shake Shack from $143.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Oppenheimer lifted their price target on Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. TD Securities reaffirmed a “buy” rating and issued a $140.00 price target on shares of Shake Shack in a research note on Friday, February 21st. Finally, Wedbush lifted their price target on Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Shake Shack currently has a consensus rating of “Hold” and a consensus price target of $125.67.

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.