MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Holdings in Shake Shack Inc. (NYSE:SHAK)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Shake Shack Inc. (NYSE:SHAK) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,651 shares of the company’s stock after acquiring an additional 819 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.05% of Shake Shack worth $2,810,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Harbor Investment Advisory LLC purchased a new stake in shares of Shake Shack during the fourth quarter valued at approximately $149,000. KBC Group NV raised its holdings in Shake Shack by 50.0% during the 4th quarter. KBC Group NV now owns 1,809 shares of the company’s stock valued at $235,000 after buying an additional 603 shares during the last quarter. R Squared Ltd purchased a new stake in Shake Shack during the 4th quarter valued at $56,000. DAVENPORT & Co LLC grew its holdings in Shake Shack by 2.0% in the 4th quarter. DAVENPORT & Co LLC now owns 12,186 shares of the company’s stock worth $1,582,000 after acquiring an additional 240 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Shake Shack by 27.7% in the fourth quarter. Jennison Associates LLC now owns 375,552 shares of the company’s stock valued at $48,747,000 after acquiring an additional 81,441 shares during the period. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SHAK. TD Cowen cut Shake Shack from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a research note on Monday. Wedbush raised their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Truist Financial upped their target price on Shake Shack from $134.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Barclays lowered their target price on Shake Shack from $155.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. reduced their price target on Shake Shack from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Shake Shack has a consensus rating of “Hold” and an average price target of $113.40.

Shake Shack Price Performance

NYSE SHAK opened at $117.07 on Wednesday. Shake Shack Inc. has a one year low of $72.93 and a one year high of $139.89. The stock has a 50-day moving average of $92.49 and a 200 day moving average of $111.03. 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 company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 509.00 and a beta of 1.61.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $320.90 million during the quarter, compared to the consensus estimate of $330.24 million. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 earnings per share. On average, sell-side analysts forecast that Shake Shack Inc. will post 1.26 EPS for the current year.

About Shake Shack

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.