Cornerstone Capital Inc. Reduces Stock Holdings in Shake Shack Inc. (NYSE:SHAK)

Cornerstone Capital Inc. lessened its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 183,742 shares of the company’s stock after selling 4,885 shares during the quarter. Shake Shack comprises about 2.5% of Cornerstone Capital Inc.’s holdings, making the stock its 13th biggest holding. Cornerstone Capital Inc. owned 0.43% of Shake Shack worth $23,850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Nemes Rush Group LLC purchased a new position in Shake Shack in the 4th quarter valued at about $29,000. Harvest Fund Management Co. Ltd purchased a new stake in Shake Shack in the 4th quarter worth approximately $32,000. Transcendent Capital Group LLC acquired a new position in Shake Shack in the 4th quarter valued at $52,000. R Squared Ltd purchased a new position in shares of Shake Shack during the 4th quarter worth $56,000. Finally, Montag & Caldwell LLC acquired a new stake in shares of Shake Shack during the fourth quarter worth $68,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Raymond James set a $145.00 target price on Shake Shack and gave the stock a “strong-buy” rating in a research report on Wednesday. TD Securities reissued a “buy” rating and issued a $140.00 target price on shares of Shake Shack in a research report on Friday, February 21st. Robert W. Baird cut their price target on shares of Shake Shack from $98.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Loop Capital raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a research report on Tuesday, April 1st. Finally, Wedbush increased their price target 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.19.

Shake Shack Trading Up 3.9 %

Shares of Shake Shack stock opened at $83.57 on Friday. The firm’s 50 day moving average is $93.95 and its 200 day moving average is $112.65. The firm has a market capitalization of $3.55 billion, a PE ratio of 363.35 and a beta of 1.80. Shake Shack Inc. has a 1 year low of $72.93 and a 1 year high of $139.89. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The business had revenue of $328.68 million for the quarter, compared to analysts’ expectations of $329.02 million. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. Equities research analysts forecast that Shake Shack Inc. will post 1.26 earnings per share for the current fiscal 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.