Assenagon Asset Management S.A. Purchases 209,527 Shares of Shake Shack, Inc. $SHAK

Assenagon Asset Management S.A. raised its position in Shake Shack, Inc. (NYSE:SHAK) by 1,730.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 221,635 shares of the company’s stock after purchasing an additional 209,527 shares during the period. Assenagon Asset Management S.A.’s holdings in Shake Shack were worth $17,990,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC grew its stake in shares of Shake Shack by 98.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 3,875 shares of the company’s stock valued at $315,000 after buying an additional 1,920 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Shake Shack by 100.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,165 shares of the company’s stock worth $296,000 after acquiring an additional 1,585 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Shake Shack during the 3rd quarter worth approximately $388,000. Advisory Services Network LLC purchased a new position in Shake Shack during the 3rd quarter valued at $38,000. Finally, Hancock Whitney Corp purchased a new position in Shake Shack during the 3rd quarter valued at $269,000. Institutional investors own 86.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SHAK shares. Deutsche Bank Aktiengesellschaft upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Tuesday, January 6th. Wolfe Research assumed coverage on shares of Shake Shack in a report on Monday, March 9th. They issued an “outperform” rating and a $118.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Shake Shack from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Robert W. Baird lifted their price objective on shares of Shake Shack from $104.00 to $108.00 and gave the company a “neutral” rating in a report on Friday, February 27th. Finally, JPMorgan Chase & Co. raised shares of Shake Shack from an “underweight” rating to a “neutral” rating and lowered their price objective for the company from $95.00 to $90.00 in a research report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Shake Shack currently has a consensus rating of “Hold” and a consensus target price of $116.64.

Shake Shack Stock Down 4.9%

NYSE:SHAK opened at $85.14 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 1.73. Shake Shack, Inc. has a 1-year low of $72.93 and a 1-year high of $144.65. The company has a 50-day moving average of $92.39 and a 200 day moving average of $91.03. The firm has a market cap of $3.63 billion, a PE ratio of 78.11, a price-to-earnings-growth ratio of 4.82 and a beta of 1.73.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, February 26th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Shake Shack had a net margin of 3.16% and a return on equity of 11.08%. The business had revenue of $400.53 million for the quarter, compared to the consensus estimate of $402.06 million. During the same quarter last year, the firm posted $0.26 EPS. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, research analysts anticipate that Shake Shack, Inc. will post 1.26 EPS for the current fiscal year.

About Shake Shack

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.