Corebridge Financial Inc. Has $2.64 Million Stake in Shake Shack Inc. (NYSE:SHAK)

Corebridge Financial Inc. reduced its holdings in Shake Shack Inc. (NYSE:SHAK) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,317 shares of the company’s stock after selling 1,587 shares during the period. Corebridge Financial Inc.’s holdings in Shake Shack were worth $2,637,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Shake Shack by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company’s stock valued at $574,497,000 after acquiring an additional 49,883 shares in the last quarter. Bridge City Capital LLC grew its stake in Shake Shack by 0.9% in the fourth quarter. Bridge City Capital LLC now owns 27,495 shares of the company’s stock valued at $3,569,000 after purchasing an additional 243 shares in the last quarter. LPL Financial LLC increased its position in shares of Shake Shack by 21.1% during the 4th quarter. LPL Financial LLC now owns 19,057 shares of the company’s stock worth $2,474,000 after purchasing an additional 3,315 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Shake Shack during the 4th quarter worth approximately $1,025,000. Finally, Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Shake Shack by 26.5% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 23,475 shares of the company’s stock valued at $3,047,000 after buying an additional 4,922 shares during the last quarter. 86.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SHAK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Shake Shack from $107.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, March 20th. Wells Fargo & Company started coverage on shares of Shake Shack in a research note on Wednesday, March 26th. They set an “equal weight” rating and a $95.00 price objective on the stock. Oppenheimer raised their target price on shares of Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Gordon Haskett raised Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target on the stock in a research report on Wednesday, January 8th. Finally, Truist Financial raised their price objective on Shake Shack from $143.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Shake Shack has a consensus rating of “Hold” and an average target price of $124.05.

Shake Shack Trading Up 0.0 %

Shares of SHAK stock opened at $88.19 on Tuesday. The stock has a market cap of $3.75 billion, a P/E ratio of 383.41 and a beta of 1.89. Shake Shack Inc. has a 1 year low of $77.50 and a 1 year high of $139.89. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $104.79 and a 200 day simple moving average of $115.20.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, February 20th. The company reported $0.26 earnings per share 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 firm had revenue of $328.68 million during the quarter, compared to the consensus estimate of $329.02 million. On average, research analysts predict that Shake Shack Inc. will post 1.26 earnings per share 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.