Handelsbanken Fonder AB Purchases 1,200 Shares of Shake Shack Inc. (NYSE:SHAK)

Handelsbanken Fonder AB increased its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 15.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 8,900 shares of the company’s stock after acquiring an additional 1,200 shares during the period. Handelsbanken Fonder AB’s holdings in Shake Shack were worth $1,155,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. GDS Wealth Management grew its position in shares of Shake Shack by 253.6% in the fourth quarter. GDS Wealth Management now owns 14,277 shares of the company’s stock valued at $1,853,000 after purchasing an additional 10,239 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Shake Shack by 4.8% during the third quarter. Fisher Asset Management LLC now owns 354,114 shares of the company’s stock worth $36,548,000 after purchasing an additional 16,097 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Shake Shack by 7.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 353,501 shares of the company’s stock worth $36,485,000 after purchasing an additional 24,813 shares during the last quarter. FMR LLC lifted its stake in Shake Shack by 3.6% during the third quarter. FMR LLC now owns 243,549 shares of the company’s stock worth $25,137,000 after purchasing an additional 8,512 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Shake Shack by 10.8% during the third quarter. Jennison Associates LLC now owns 294,111 shares of the company’s stock worth $30,355,000 after purchasing an additional 28,661 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.

Insider Transactions at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total transaction of $88,281.42. Following the transaction, the chief financial officer now owns 30,717 shares of the company’s stock, valued at $4,223,894.67. This represents a 2.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 9.73% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Stifel Nicolaus cut their target price on Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a research note on Friday, January 17th. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $125.00 to $159.00 in a research note on Tuesday, January 7th. Oppenheimer increased their price target on Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. UBS Group increased their price target on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Finally, Truist Financial increased their price target on Shake Shack from $143.00 to $154.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $125.50.

Shake Shack Stock Performance

Shares of Shake Shack stock opened at $106.81 on Friday. The company has a market cap of $4.54 billion, a P/E ratio of 464.40 and a beta of 1.86. The business has a 50-day moving average price of $120.33 and a two-hundred day moving average price of $116.57. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50. Shake Shack Inc. has a 1-year low of $77.50 and a 1-year high of $139.89.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data 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 company had revenue of $328.68 million for the quarter, compared to analysts’ expectations 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 anticipate 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.