Fisher Asset Management LLC Purchases 19,591 Shares of Shake Shack, Inc. $SHAK

Fisher Asset Management LLC boosted its position in shares of Shake Shack, Inc. (NYSE:SHAK) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 702,101 shares of the company’s stock after buying an additional 19,591 shares during the quarter. Fisher Asset Management LLC’s holdings in Shake Shack were worth $56,990,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Divisadero Street Capital Management LP increased its holdings in shares of Shake Shack by 407.8% during the 3rd quarter. Divisadero Street Capital Management LP now owns 56,985 shares of the company’s stock worth $5,334,000 after acquiring an additional 45,762 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Shake Shack by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 156,998 shares of the company’s stock valued at $14,697,000 after acquiring an additional 19,889 shares in the last quarter. 12 West Capital Management LP grew its holdings in shares of Shake Shack by 13.6% during the 3rd quarter. 12 West Capital Management LP now owns 1,753,595 shares of the company’s stock worth $164,154,000 after purchasing an additional 210,000 shares in the last quarter. Madison Asset Management LLC grew its holdings in shares of Shake Shack by 37.3% during the 4th quarter. Madison Asset Management LLC now owns 58,404 shares of the company’s stock worth $4,741,000 after purchasing an additional 15,852 shares in the last quarter. Finally, CI Investments Inc. grew its holdings in shares of Shake Shack by 34.1% during the 3rd quarter. CI Investments Inc. now owns 91,061 shares of the company’s stock worth $8,524,000 after purchasing an additional 23,133 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. TD Cowen dropped their price objective on Shake Shack from $105.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, May 7th. Wells Fargo & Company dropped their target price on Shake Shack from $100.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. DA Davidson set a $85.00 target price on Shake Shack in a research report on Friday, May 8th. Barclays lowered their price objective on Shake Shack from $118.00 to $96.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Shake Shack in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $107.08.

Insider Buying and Selling

In related news, Director Daniel Harris Meyer bought 32,258 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were bought at an average price of $61.88 per share, for a total transaction of $1,996,125.04. Following the completion of the acquisition, the director directly owned 378,670 shares of the company’s stock, valued at $23,432,099.60. This trade represents a 9.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Josh Silverman bought 8,290 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $60.38 per share, for a total transaction of $500,550.20. Following the acquisition, the director directly owned 8,290 shares of the company’s stock, valued at approximately $500,550.20. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 50,616 shares of company stock valued at $3,109,782. 8.32% of the stock is currently owned by company insiders.

Shake Shack Trading Down 1.9%

Shares of Shake Shack stock opened at $61.50 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.66 and a current ratio of 1.69. Shake Shack, Inc. has a 52 week low of $59.49 and a 52 week high of $144.65. The stock has a 50 day moving average price of $86.14 and a two-hundred day moving average price of $88.31. The stock has a market capitalization of $2.63 billion, a PE ratio of 62.76, a price-to-earnings-growth ratio of 2.59 and a beta of 1.78.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.00 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.11). Shake Shack had a net margin of 2.76% and a return on equity of 9.62%. The firm had revenue of $366.74 million during the quarter, compared to analyst estimates of $372.43 million. During the same period last year, the business posted $0.14 EPS. The company’s revenue was up 14.3% on a year-over-year basis. As a group, equities analysts anticipate that Shake Shack, Inc. will post 1.24 earnings per share for the current fiscal year.

About Shake Shack

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.