Man Group plc Sells 8,289 Shares of Shake Shack Inc. (NYSE:SHAK)

Man Group plc lessened its stake in Shake Shack Inc. (NYSE:SHAK) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 405,792 shares of the company’s stock after selling 8,289 shares during the period. Man Group plc’s holdings in Shake Shack were worth $52,672,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Louisiana State Employees Retirement System lifted its stake in shares of Shake Shack by 0.5% in the 4th 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 last quarter. Quadrant Capital Group LLC raised its position in Shake Shack by 5.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,870 shares of the company’s stock valued at $243,000 after purchasing an additional 100 shares during the last quarter. Summit Financial LLC raised its position in Shake Shack by 1.1% during the 4th quarter. Summit Financial LLC now owns 13,083 shares of the company’s stock valued at $1,698,000 after purchasing an additional 139 shares during the last quarter. Arizona State Retirement System raised its position in Shake Shack by 1.7% during the 4th quarter. Arizona State Retirement System now owns 11,024 shares of the company’s stock valued at $1,431,000 after purchasing an additional 182 shares during the last quarter. Finally, New York State Teachers Retirement System raised 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 purchasing an additional 200 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Performance

Shake Shack stock opened at $115.95 on Thursday. 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 company has a market capitalization of $4.93 billion, a P/E ratio of 504.13 and a beta of 1.61. The stock’s 50 day moving average is $89.98 and its 200 day moving average is $111.13. Shake Shack Inc. has a twelve month low of $72.93 and a twelve month high of $139.89.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, May 1st. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The business had revenue of $320.90 million for the quarter, compared to analysts’ expectations of $330.24 million. During the same quarter in the prior year, the business posted $0.13 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities research analysts predict that Shake Shack Inc. will post 1.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays lowered their price target on Shake Shack from $155.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their price target on Shake Shack from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, May 5th. TD Securities reaffirmed a “buy” rating and set a $105.00 price target on shares of Shake Shack in a research report on Thursday, May 1st. Stifel Nicolaus lowered their price target on Shake Shack from $120.00 to $97.00 and set a “hold” rating for the company in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company assumed coverage on Shake Shack in a research report on Wednesday, March 26th. They set an “equal weight” rating and a $95.00 price target for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Shake Shack presently has an average rating of “Moderate Buy” and an average target price of $113.95.

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.