Cinctive Capital Management LP Grows Stock Position in Shake Shack Inc. (NYSE:SHAK)

Cinctive Capital Management LP boosted its holdings in Shake Shack Inc. (NYSE:SHAK) by 62.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 59,208 shares of the company’s stock after acquiring an additional 22,775 shares during the period. Cinctive Capital Management LP’s holdings in Shake Shack were worth $7,685,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SHAK. Vanguard Group Inc. raised its holdings in shares of Shake Shack by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company’s stock worth $574,497,000 after acquiring an additional 49,883 shares during the last quarter. State Street Corp grew its stake in Shake Shack by 3.5% in the 3rd quarter. State Street Corp now owns 1,452,736 shares of the company’s stock worth $149,937,000 after acquiring an additional 49,324 shares during the period. Geode Capital Management LLC raised its holdings in Shake Shack by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock valued at $90,470,000 after acquiring an additional 26,620 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Shake Shack by 154.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock worth $67,157,000 after purchasing an additional 395,311 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Shake Shack by 27.0% during the fourth quarter. Fisher Asset Management LLC now owns 449,796 shares of the company’s stock worth $58,384,000 after purchasing an additional 95,682 shares during the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Shake Shack Stock Performance

Shares of Shake Shack stock opened at $90.95 on Wednesday. The firm has a market cap of $3.87 billion, a PE ratio of 395.45 and a beta of 1.89. Shake Shack Inc. has a 1 year low of $77.50 and a 1 year high of $139.89. The firm’s 50-day simple moving average is $104.20 and its 200-day simple moving average is $115.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.98 and a current ratio of 1.97.

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

Analyst Ratings Changes

SHAK has been the subject of several analyst reports. Gordon Haskett upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a research note on Wednesday, January 8th. Oppenheimer increased their price objective on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. TD Securities restated a “buy” rating and issued a $140.00 target price on shares of Shake Shack in a report on Friday, February 21st. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $125.00 to $159.00 in a research note on Tuesday, January 7th. Finally, Stifel Nicolaus lowered their price objective on shares of Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $124.20.

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.