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

Jennison Associates LLC increased its position in Shake Shack Inc. (NYSE:SHAK) by 27.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 375,552 shares of the company’s stock after purchasing an additional 81,441 shares during the period. Jennison Associates LLC owned 0.88% of Shake Shack worth $48,747,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SHAK. AQR Capital Management LLC boosted its holdings in shares of Shake Shack by 30.2% in the second quarter. AQR Capital Management LLC now owns 22,805 shares of the company’s stock valued at $2,052,000 after acquiring an additional 5,291 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Shake Shack by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,529 shares of the company’s stock worth $1,938,000 after purchasing an additional 722 shares during the period. Algert Global LLC purchased a new position in Shake Shack during the 2nd quarter worth $340,000. Creative Planning increased its stake in Shake Shack by 15.6% in the second quarter. Creative Planning now owns 5,946 shares of the company’s stock valued at $535,000 after purchasing an additional 804 shares during the period. Finally, Vontobel Holding Ltd. raised its holdings in shares of Shake Shack by 65.9% in the third quarter. Vontobel Holding Ltd. now owns 5,815 shares of the company’s stock valued at $600,000 after buying an additional 2,309 shares during the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Shake Shack Stock Up 3.9 %

SHAK opened at $119.65 on Wednesday. Shake Shack Inc. has a one year low of $73.75 and a one year high of $139.89. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 703.82 and a beta of 1.86. The business’s fifty day moving average is $127.63 and its two-hundred day moving average is $114.40. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01.

Insider Activity at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 642 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the sale, the chief financial officer now owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. This represents a 2.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.73% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SHAK has been the topic of several recent research reports. Truist Financial dropped their price target on Shake Shack from $149.00 to $143.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. UBS Group boosted their target price on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Stifel Nicolaus lowered their price objective on shares of Shake Shack from $128.00 to $110.00 and set a “hold” rating on the stock in a research report on Friday, January 17th. Wedbush restated a “neutral” rating and set a $130.00 price objective on shares of Shake Shack in a research report on Wednesday, January 15th. Finally, Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $125.00 to $159.00 in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Shake Shack currently has a consensus rating of “Hold” and an average target price of $123.78.

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.