Nordea Investment Management AB Sells 7,481 Shares of Shake Shack, Inc. $SHAK

Nordea Investment Management AB reduced its position in shares of Shake Shack, Inc. (NYSE:SHAK) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 98,836 shares of the company’s stock after selling 7,481 shares during the quarter. Nordea Investment Management AB’s holdings in Shake Shack were worth $7,969,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SHAK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Shake Shack by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,627 shares of the company’s stock worth $1,995,000 after purchasing an additional 976 shares during the period. Jones Financial Companies Lllp grew its position in Shake Shack by 4,210.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,500 shares of the company’s stock valued at $220,000 after purchasing an additional 2,442 shares during the period. United Services Automobile Association acquired a new stake in Shake Shack in the 1st quarter valued at $219,000. Geneos Wealth Management Inc. bought a new stake in Shake Shack during the 1st quarter valued at $26,000. Finally, Creative Planning increased its stake in Shake Shack by 14.6% during the 2nd quarter. Creative Planning now owns 15,626 shares of the company’s stock valued at $2,197,000 after purchasing an additional 1,986 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SHAK. Barclays dropped their price objective on shares of Shake Shack from $115.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Raymond James Financial set a $140.00 target price on shares of Shake Shack in a research report on Wednesday, January 21st. DA Davidson initiated coverage on shares of Shake Shack in a report on Friday, March 6th. They issued a “buy” rating and a $125.00 target price on the stock. TD Cowen raised their price target on shares of Shake Shack from $100.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Shake Shack in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $116.64.

Shake Shack Trading Down 0.6%

Shares of Shake Shack stock opened at $89.51 on Thursday. The company has a market capitalization of $3.82 billion, a P/E ratio of 82.12, a price-to-earnings-growth ratio of 4.85 and a beta of 1.73. The stock has a fifty day simple moving average of $92.70 and a 200 day simple moving average of $91.07. Shake Shack, Inc. has a 12-month low of $72.93 and a 12-month high of $144.65. The company has a current ratio of 1.76, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $400.53 million for the quarter, compared to analysts’ expectations of $402.06 million. Shake Shack had a return on equity of 11.08% and a net margin of 3.16%.The business’s revenue was up 21.8% on a year-over-year basis. During the same period last year, the business earned $0.26 EPS. On average, sell-side analysts anticipate that Shake Shack, Inc. will post 1.26 earnings per share for the current fiscal year.

Shake Shack Profile

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.