UniSuper Management Pty Ltd Takes $929,000 Position in Shake Shack Inc. (NYSE:SHAK)

UniSuper Management Pty Ltd bought a new position in shares of Shake Shack Inc. (NYSE:SHAK) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,931 shares of the company’s stock, valued at approximately $929,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC acquired a new position in Shake Shack in the first quarter valued at $311,000. Covestor Ltd boosted its position in shares of Shake Shack by 32,150.0% in the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock valued at $67,000 after purchasing an additional 643 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Shake Shack in the 1st quarter valued at about $452,000. State Board of Administration of Florida Retirement System boosted its holdings in shares of Shake Shack by 20.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,997 shares of the company’s stock valued at $1,352,000 after acquiring an additional 2,210 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of Shake Shack by 7.4% during the first quarter. ProShare Advisors LLC now owns 7,609 shares of the company’s stock worth $792,000 after acquiring an additional 522 shares during the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SHAK. JPMorgan Chase & Co. increased their price target on shares of Shake Shack from $102.00 to $105.00 and gave the stock an “underweight” rating in a research note on Monday, June 3rd. BTIG Research increased their target price on shares of Shake Shack from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. The Goldman Sachs Group began coverage on Shake Shack in a research report on Thursday, June 13th. They issued a “buy” rating and a $110.00 price target on the stock. Morgan Stanley lowered their target price on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Finally, Barclays upped their price target on Shake Shack from $92.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $99.50.

Shake Shack Price Performance

Shares of SHAK stock traded up $0.84 during midday trading on Thursday, reaching $79.99. 125,982 shares of the company traded hands, compared to its average volume of 894,509. The firm’s 50 day simple moving average is $90.83 and its two-hundred day simple moving average is $92.33. The firm has a market cap of $3.38 billion, a PE ratio of 143.91, a price-to-earnings-growth ratio of 2.32 and a beta of 1.75. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.03 and a quick ratio of 1.99. Shake Shack Inc. has a 1-year low of $52.79 and a 1-year high of $111.29.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm had revenue of $290.50 million during the quarter, compared to the consensus estimate of $291.00 million. Shake Shack had a return on equity of 4.86% and a net margin of 2.08%. Shake Shack’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the business posted ($0.01) EPS. On average, equities research analysts expect that Shake Shack Inc. will post 0.75 EPS 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.