Jennison Associates LLC Has $47.75 Million Stake in Shake Shack, Inc. $SHAK
by Doug Wharley · The Cerbat GemJennison Associates LLC lifted its holdings in shares of Shake Shack, Inc. (NYSE:SHAK – Free Report) by 4.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 588,325 shares of the company’s stock after acquiring an additional 25,552 shares during the quarter. Jennison Associates LLC owned approximately 1.38% of Shake Shack worth $47,754,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Shake Shack by 21.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,590,911 shares of the company’s stock valued at $242,535,000 after purchasing an additional 450,406 shares during the last quarter. 12 West Capital Management LP boosted its position in Shake Shack by 13.6% during the third 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 during the period. State Street Corp increased its holdings in shares of Shake Shack by 1.1% in the second quarter. State Street Corp now owns 1,470,084 shares of the company’s stock valued at $206,694,000 after purchasing an additional 15,607 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Shake Shack by 9.2% in the second quarter. Ameriprise Financial Inc. now owns 864,839 shares of the company’s stock valued at $121,602,000 after purchasing an additional 72,982 shares during the last quarter. Finally, Van Berkom & Associates Inc. raised its position in shares of Shake Shack by 14.8% in the third quarter. Van Berkom & Associates Inc. now owns 723,660 shares of the company’s stock valued at $67,742,000 after purchasing an additional 93,553 shares during the period. 86.07% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have recently issued reports on SHAK. BNP Paribas Exane started coverage on shares of Shake Shack in a report on Monday, March 30th. They set an “outperform” rating and a $124.00 target price for the company. Raymond James Financial set a $140.00 price target on shares of Shake Shack in a report on Wednesday, January 21st. TD Cowen raised their price objective on shares of Shake Shack from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, February 26th. Truist Financial boosted their price objective on Shake Shack from $144.00 to $148.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Finally, Morgan Stanley raised Shake Shack from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $115.00 to $125.00 in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.67.
Check Out Our Latest Report on SHAK
Shake Shack Trading Up 2.0%
SHAK stock opened at $102.58 on Friday. Shake Shack, Inc. has a 52 week low of $76.51 and a 52 week high of $144.65. The company has a market capitalization of $4.38 billion, a PE ratio of 94.11, a price-to-earnings-growth ratio of 3.93 and a beta of 1.75. The company’s 50-day simple moving average is $94.34 and its 200 day simple moving average is $91.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.76.
Shake Shack (NYSE:SHAK – Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The business had revenue of $400.53 million during the quarter, compared to analysts’ expectations of $402.06 million. Shake Shack had a net margin of 3.16% and a return on equity of 11.08%. The business’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 EPS. As a group, sell-side analysts anticipate that Shake Shack, Inc. will post 1.39 earnings per share for the current year.
Insider Activity at Shake Shack
In other news, insider Stephanie Ann Sentell sold 258 shares of Shake Shack stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $102.21, for a total value of $26,370.18. Following the completion of the sale, the insider directly owned 15,084 shares in the company, valued at approximately $1,541,735.64. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 8.50% of the company’s stock.
Shake Shack Company 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.