Corebridge Financial Inc. Sells 1,587 Shares of Shake Shack Inc. (NYSE:SHAK)

Corebridge Financial Inc. decreased its holdings in Shake Shack Inc. (NYSE:SHAK) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,317 shares of the company’s stock after selling 1,587 shares during the quarter. Corebridge Financial Inc.’s holdings in Shake Shack were worth $2,637,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of analysts recently commented on the company. Oppenheimer lifted 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. TD Securities reiterated a “buy” rating and set a $140.00 price target on shares of Shake Shack in a research report on Friday, February 21st. Barclays upgraded shares of Shake Shack from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $125.00 to $159.00 in a report on Tuesday, January 7th. Truist Financial upped their target price on shares of Shake Shack from $143.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Wedbush raised their price target on Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $124.05.

Shake Shack Stock Up 0.0 %

Shake Shack stock opened at $88.19 on Tuesday. The company has a 50 day moving average of $104.79 and a 200-day moving average of $115.20. 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 twelve month low of $77.50 and a twelve month high of $139.89. The stock has a market capitalization of $3.75 billion, a PE ratio of 383.41 and a beta of 1.89.

Shake Shack (NYSE:SHAK) last announced 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%. On average, equities research analysts anticipate 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.