Geode Capital Management LLC Sells 1,316 Shares of Shake Shack Inc. (NYSE:SHAK)

Geode Capital Management LLC lowered its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 875,064 shares of the company’s stock after selling 1,316 shares during the quarter. Geode Capital Management LLC owned approximately 2.06% of Shake Shack worth $113,611,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Nemes Rush Group LLC bought a new position in shares of Shake Shack in the 4th quarter valued at about $29,000. Harvest Fund Management Co. Ltd bought a new position in shares of Shake Shack in the 4th quarter valued at about $32,000. Transcendent Capital Group LLC bought a new position in shares of Shake Shack in the 4th quarter valued at about $52,000. R Squared Ltd bought a new position in shares of Shake Shack in the 4th quarter valued at about $56,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Shake Shack by 200.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 600 shares of the company’s stock worth $78,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.

Analyst Upgrades and Downgrades

SHAK has been the topic of several recent analyst reports. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $125.00 to $159.00 in a research note on Tuesday, January 7th. Gordon Haskett raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price objective on the stock in a research note on Wednesday, January 8th. Robert W. Baird reduced their price objective on shares of Shake Shack from $98.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday. Stifel Nicolaus reduced their price objective on shares of Shake Shack from $128.00 to $110.00 and set a “hold” rating on the stock in a research note on Friday, January 17th. Finally, Wells Fargo & Company started coverage on shares of Shake Shack in a research note on Wednesday, March 26th. They set an “equal weight” rating and a $95.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $121.70.

Shake Shack Price Performance

NYSE SHAK opened at $87.75 on Thursday. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50. Shake Shack Inc. has a 12-month low of $72.93 and a 12-month high of $139.89. The company has a market capitalization of $3.73 billion, a PE ratio of 381.52 and a beta of 1.80. The firm’s 50 day moving average is $98.29 and its 200-day moving average is $113.76.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data 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. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The company had revenue of $328.68 million for the quarter, compared to the consensus estimate of $329.02 million. Equities research analysts anticipate 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.