Prudential Financial Inc. Sells 14,900 Shares of Shake Shack Inc. (NYSE:SHAK)

Prudential Financial Inc. cut its position in Shake Shack Inc. (NYSE:SHAK) by 13.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,543 shares of the company’s stock after selling 14,900 shares during the quarter. Prudential Financial Inc.’s holdings in Shake Shack were worth $12,272,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SHAK. Louisiana State Employees Retirement System raised its stake in shares of Shake Shack by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the company’s stock worth $2,518,000 after acquiring an additional 100 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Shake Shack by 1.7% in the 4th quarter. Arizona State Retirement System now owns 11,024 shares of the company’s stock worth $1,431,000 after purchasing an additional 182 shares in the last quarter. Glenmede Trust Co. NA grew its stake in Shake Shack by 1.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock worth $1,372,000 after buying an additional 199 shares during the last quarter. New York State Teachers Retirement System increased its position in Shake Shack by 0.5% during the 4th quarter. New York State Teachers Retirement System now owns 39,225 shares of the company’s stock valued at $5,091,000 after buying an additional 200 shares in the last quarter. Finally, Xponance Inc. raised its stake in Shake Shack by 8.6% in the fourth quarter. Xponance Inc. now owns 2,709 shares of the company’s stock valued at $352,000 after buying an additional 215 shares during the last quarter. 86.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on SHAK. TD Securities restated a “buy” rating and set a $140.00 price objective on shares of Shake Shack in a report on Friday, February 21st. Gordon Haskett raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price on the stock in a research report on Wednesday, January 8th. Wedbush raised their price target on shares of Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Wells Fargo & Company began coverage on shares of Shake Shack in a report on Wednesday. They set an “equal weight” rating and a $95.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their target price on Shake Shack from $107.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Shake Shack has a consensus rating of “Hold” and a consensus target price of $124.05.

Shake Shack Price Performance

NYSE:SHAK opened at $88.25 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98. The company has a 50 day moving average price of $105.33 and a 200-day moving average price of $115.06. Shake Shack Inc. has a 1-year low of $77.50 and a 1-year high of $139.89. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 383.71 and a beta of 1.89.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.26 earnings per share 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 during the quarter, compared to analysts’ expectations of $329.02 million. Equities research analysts forecast that Shake Shack Inc. will post 1.26 EPS for the current year.

About Shake Shack

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.