Los Angeles Capital Management LLC Decreases Holdings in Shake Shack Inc. (NYSE:SHAK)

Los Angeles Capital Management LLC trimmed its holdings in shares of Shake Shack Inc. (NYSE:SHAK) by 16.4% in the third quarter, Holdings Channel reports. The institutional investor owned 5,600 shares of the company’s stock after selling 1,095 shares during the period. Los Angeles Capital Management LLC’s holdings in Shake Shack were worth $439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. lifted its holdings in Shake Shack by 22.1% during the 2nd quarter. BlackRock Inc. now owns 6,987,446 shares of the company’s stock worth $747,797,000 after buying an additional 1,264,855 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Shake Shack by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 3,908,823 shares of the company’s stock valued at $418,323,000 after purchasing an additional 38,717 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Shake Shack by 1.3% in the 2nd quarter. Invesco Ltd. now owns 1,108,586 shares of the company’s stock valued at $118,640,000 after purchasing an additional 14,032 shares during the last quarter. State Street Corp lifted its holdings in shares of Shake Shack by 4.5% in the 2nd quarter. State Street Corp now owns 1,106,935 shares of the company’s stock valued at $118,464,000 after purchasing an additional 48,092 shares during the last quarter. Finally, Amundi purchased a new stake in shares of Shake Shack in the 2nd quarter valued at about $94,400,000. 80.84% of the stock is owned by institutional investors.

Several research firms have recently weighed in on SHAK. Morgan Stanley reduced their target price on Shake Shack from $87.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday. Cowen reduced their target price on Shake Shack from $86.00 to $82.00 and set a “market perform” rating for the company in a report on Friday, November 5th. Robert W. Baird reduced their target price on Shake Shack from $88.00 to $83.00 in a report on Wednesday. Truist Securities boosted their price target on Shake Shack from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Piper Sandler dropped their price target on Shake Shack from $131.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, October 11th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Shake Shack has a consensus rating of “Hold” and a consensus price target of $93.17.

NYSE SHAK opened at $69.29 on Friday. The business’s 50 day moving average is $75.54 and its two-hundred day moving average is $83.36. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of -138.58, a PEG ratio of 83.15 and a beta of 1.52. The company has a current ratio of 3.54, a quick ratio of 3.51 and a debt-to-equity ratio of 0.55. Shake Shack Inc. has a 12-month low of $65.25 and a 12-month high of $138.38.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, November 4th. The company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The business had revenue of $193.90 million for the quarter, compared to analyst estimates of $197.47 million. Shake Shack had a positive return on equity of 0.19% and a negative net margin of 2.64%. The company’s quarterly revenue was up 48.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.11) EPS. Equities analysts forecast that Shake Shack Inc. will post -0.18 earnings per share for the current fiscal year.

About Shake Shack

Shake Shack, Inc operates as a holding company. The firm engages in operating fast food hamburger restaurants. It offers beef burgers, flat-top dogs, chicken sandwiches, frozen custard and crinkle cut fries and includes all the mobile ordering essentials. The company was founded by Daniel Harris Meyer on September 23, 2014 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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