KLP Kapitalforvaltning AS Makes New Investment in Shake Shack Inc. (NYSE:SHAK)

KLP Kapitalforvaltning AS acquired a new stake in Shake Shack Inc. (NYSE:SHAK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,900 shares of the company’s stock, valued at approximately $1,025,000.

A number of other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System lifted its stake in Shake Shack by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the company’s stock worth $2,518,000 after acquiring an additional 100 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Shake Shack by 1.7% during the fourth quarter. Arizona State Retirement System now owns 11,024 shares of the company’s stock worth $1,431,000 after purchasing an additional 182 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Shake Shack by 1.5% in the third quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock valued at $1,372,000 after purchasing an additional 199 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Shake Shack by 0.5% in the fourth quarter. New York State Teachers Retirement System now owns 39,225 shares of the company’s stock valued at $5,091,000 after purchasing an additional 200 shares during the period. Finally, Xponance Inc. grew its holdings in shares of Shake Shack by 8.6% in the fourth quarter. Xponance Inc. now owns 2,709 shares of the company’s stock valued at $352,000 after purchasing an additional 215 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Shake Shack Stock Down 5.7 %

Shares of NYSE SHAK opened at $88.25 on Monday. The business has a 50-day moving average price of $105.33 and a 200 day moving average price of $115.29. The stock has a market cap of $3.75 billion, a PE ratio of 383.71 and a beta of 1.89. 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 Inc. has a 52-week low of $77.50 and a 52-week high of $139.89.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, February 20th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The business had revenue of $328.68 million for 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%. Equities research analysts forecast that Shake Shack Inc. will post 1.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on SHAK. 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 research report on Wednesday, January 8th. UBS Group boosted their target price on Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” 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 report on Friday, February 21st. Oppenheimer boosted their price objective on Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company assumed coverage on shares of Shake Shack in a research note on Wednesday, March 26th. They set an “equal weight” rating and a $95.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $124.05.

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.