Cibc World Markets Corp Purchases Shares of 3,558 Shake Shack Inc. (NYSE:SHAK)

Cibc World Markets Corp purchased a new stake in Shake Shack Inc. (NYSE:SHAK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,558 shares of the company’s stock, valued at approximately $462,000.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp raised its stake in Shake Shack by 3.5% during the 3rd 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 raised its stake in Shake Shack by 68.3% during the 3rd 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 raised its stake in Shake Shack by 3.1% during the 3rd 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. raised its stake in Shake Shack by 154.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after purchasing an additional 395,311 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Shake Shack by 27.0% during the 4th quarter. Fisher Asset Management LLC now owns 449,796 shares of the company’s stock valued at $58,384,000 after purchasing an additional 95,682 shares during the period. Institutional investors own 86.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Shake Shack from $107.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday. Wedbush boosted their price target 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. Truist Financial boosted their price target on shares of Shake Shack from $143.00 to $154.00 and gave the company a “buy” rating in a report on Friday, February 21st. Gordon Haskett upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target on the stock in a report on Wednesday, January 8th. Finally, UBS Group boosted their price target on shares of 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, eight have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $125.67.

Shake Shack Stock Down 0.1 %

Shake Shack stock opened at $90.58 on Monday. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 393.83 and a beta of 1.89. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98. Shake Shack Inc. has a fifty-two week low of $77.50 and a fifty-two week high of $139.89. The firm has a fifty day moving average price of $107.78 and a two-hundred day moving average price of $115.40.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, February 20th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $328.68 million during the quarter, compared to analyst estimates of $329.02 million. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. As a group, analysts forecast 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.