Harvest Fund Management Co. Ltd Invests $32,000 in Shake Shack Inc. (NYSE:SHAK)

Harvest Fund Management Co. Ltd bought a new stake in shares of Shake Shack Inc. (NYSE:SHAK) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 243 shares of the company’s stock, valued at approximately $32,000.

A number of other large investors also recently modified their holdings of the company. Louisiana State Employees Retirement System raised its holdings in Shake Shack by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the company’s stock valued at $2,518,000 after acquiring an additional 100 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Shake Shack by 0.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company’s stock worth $3,241,000 after purchasing an additional 139 shares in the last quarter. Arizona State Retirement System boosted its stake in 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 during the period. Glenmede Trust Co. NA grew its holdings in Shake Shack by 1.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock valued at $1,372,000 after buying an additional 199 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in shares of Shake Shack by 0.5% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Performance

Shares of Shake Shack stock opened at $90.58 on Monday. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50. The stock’s fifty day moving average is $107.78 and its two-hundred day moving average is $115.40. Shake Shack Inc. has a 52 week low of $77.50 and a 52 week high of $139.89. The company has a market capitalization of $3.85 billion, a PE ratio of 393.83 and a beta of 1.89.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.26 EPS for the quarter, topping 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 firm had revenue of $328.68 million for the quarter, compared to analysts’ expectations of $329.02 million. As a group, analysts expect that Shake Shack Inc. will post 1.26 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wedbush upped their target price on shares of Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Truist Financial raised their price objective on Shake Shack from $143.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Stifel Nicolaus decreased their target price on Shake Shack from $128.00 to $110.00 and set a “hold” rating on the stock in a research report on Friday, January 17th. TD Securities restated a “buy” rating and set a $140.00 price target on shares of Shake Shack in a report on Friday, February 21st. Finally, UBS Group increased their target price on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $125.67.

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.