Prudential Financial Inc. Cuts Holdings in Shake Shack Inc. (NYSE:SHAK)

Prudential Financial Inc. reduced its position in Shake Shack Inc. (NYSE:SHAK) by 13.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,543 shares of the company’s stock after selling 14,900 shares during the period. Prudential Financial Inc. owned 0.22% of Shake Shack worth $12,272,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SHAK. Vanguard Group Inc. raised its holdings in shares of Shake Shack by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company’s stock worth $574,497,000 after acquiring an additional 49,883 shares in the last quarter. State Street Corp raised its stake in Shake Shack by 3.5% during the third quarter. State Street Corp now owns 1,452,736 shares of the company’s stock valued at $149,937,000 after purchasing an additional 49,324 shares in the last quarter. Holocene Advisors LP lifted its position in Shake Shack by 68.3% during the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock valued at $97,673,000 after purchasing an additional 384,131 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Shake Shack by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock worth $90,470,000 after buying an additional 26,620 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Shake Shack by 154.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock worth $67,157,000 after buying an additional 395,311 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SHAK. Barclays raised shares of 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 report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their target price on Shake Shack from $107.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, March 20th. Stifel Nicolaus decreased their price target on Shake Shack from $128.00 to $110.00 and set a “hold” rating on the stock in a report on Friday, January 17th. Wedbush lifted their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Finally, Gordon Haskett raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price on the stock in a research note on Wednesday, January 8th. One equities 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $124.05.

Shake Shack Trading Down 5.7 %

Shares of NYSE SHAK opened at $88.25 on Friday. Shake Shack Inc. has a twelve month low of $77.50 and a twelve month high of $139.89. 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 business has a fifty day simple moving average of $105.33 and a two-hundred day simple moving average of $115.06. The firm has a market cap of $3.75 billion, a PE ratio of 383.71 and a beta of 1.89.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data 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 company 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%. Analysts expect 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.