PNC Financial Services Group Inc. Reduces Stock Position in Shake Shack Inc. (NYSE:SHAK)

PNC Financial Services Group Inc. cut its stake in Shake Shack Inc. (NYSE:SHAK) by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,920 shares of the company’s stock after selling 400 shares during the period. PNC Financial Services Group Inc.’s holdings in Shake Shack were worth $639,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SHAK. Transcendent Capital Group LLC acquired a new stake in Shake Shack during the fourth quarter worth approximately $52,000. R Squared Ltd acquired a new stake in Shake Shack during the fourth quarter worth approximately $56,000. Quest Partners LLC boosted its holdings in shares of Shake Shack by 76.1% in the 3rd quarter. Quest Partners LLC now owns 752 shares of the company’s stock valued at $78,000 after purchasing an additional 325 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Shake Shack in the 4th quarter valued at $93,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Shake Shack by 56.3% in the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $96,000 after purchasing an additional 265 shares during the last quarter. 86.07% of the stock is owned by hedge funds and other institutional investors.

Shake Shack Trading Down 2.6 %

Shake Shack stock opened at $85.77 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $110.24 and a two-hundred day moving average price of $115.58. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 372.93 and a beta of 1.89. Shake Shack Inc. has a 52-week low of $77.50 and a 52-week high of $139.89.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, February 20th. The company reported $0.26 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect that Shake Shack Inc. will post 1.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group lifted their target price on shares of Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Oppenheimer lifted their price target on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $125.00 to $159.00 in a research note on Tuesday, January 7th. Truist Financial lifted their price target on shares of Shake Shack from $143.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Wedbush boosted their target price on shares of Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $125.50.

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.