Shake Shack Inc. (NYSE:SHAK) Shares Bought by Jennison Associates LLC

Jennison Associates LLC increased its position in Shake Shack Inc. (NYSE:SHAK) by 27.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 375,552 shares of the company’s stock after buying an additional 81,441 shares during the period. Jennison Associates LLC’s holdings in Shake Shack were worth $48,747,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. raised its holdings in Shake Shack by 154.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after acquiring an additional 395,311 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Shake Shack in the third quarter valued at $39,677,000. Holocene Advisors LP increased its stake in Shake Shack by 68.3% in the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock valued at $97,673,000 after purchasing an additional 384,131 shares during the last quarter. Paloma Partners Management Co purchased a new position in Shake Shack during the third quarter worth about $18,626,000. Finally, Assenagon Asset Management S.A. boosted its stake in Shake Shack by 268.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 104,358 shares of the company’s stock worth $10,771,000 after buying an additional 75,997 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Up 3.9 %

Shares of NYSE:SHAK opened at $119.65 on Wednesday. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 703.82 and a beta of 1.86. The company has a 50 day moving average of $127.63 and a two-hundred day moving average of $114.40. Shake Shack Inc. has a 52-week low of $73.75 and a 52-week high of $139.89. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51.

Insider Activity

In related news, CFO Katherine Irene Fogertey sold 642 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the transaction, the chief financial officer now owns 30,717 shares in the company, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 9.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays upgraded shares of Shake Shack from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $125.00 to $159.00 in a report 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 target on the stock in a research note on Wednesday, January 8th. UBS Group upped their price objective on Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Wedbush reiterated a “neutral” rating and issued a $130.00 target price on shares of Shake Shack in a report on Wednesday, January 15th. Finally, Truist Financial lowered their price target on Shake Shack from $149.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $123.78.

Shake Shack Company 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.