Bryce Point Capital LLC Takes Position in Shake Shack Inc. (NYSE:SHAK)

Bryce Point Capital LLC acquired a new position in Shake Shack Inc. (NYSE:SHAK) during the 4th quarter, Holdings Channel reports. The fund acquired 11,993 shares of the company’s stock, valued at approximately $1,557,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Shake Shack by 1.1% during 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 position in shares of Shake Shack by 3.5% in the third quarter. State Street Corp now owns 1,452,736 shares of the company’s stock valued at $149,937,000 after purchasing an additional 49,324 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Shake Shack by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock worth $90,470,000 after purchasing an additional 26,620 shares in the last quarter. Point72 Asset Management L.P. raised its position 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 last quarter. Finally, Fisher Asset Management LLC lifted its stake in Shake Shack by 27.0% in the 4th quarter. Fisher Asset Management LLC now owns 449,796 shares of the company’s stock valued at $58,384,000 after buying an additional 95,682 shares in the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on SHAK. Wedbush raised their price target on Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Loop Capital upgraded 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. Gordon Haskett upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price on the stock in a report on Wednesday, January 8th. Wells Fargo & Company initiated coverage on shares of Shake Shack in a research note on Wednesday, March 26th. They set an “equal weight” rating and a $95.00 price target on the stock. Finally, Stifel Nicolaus cut 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 report on Friday, January 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $124.20.

Shake Shack Trading Up 3.2 %

Shares of SHAK opened at $90.95 on Wednesday. Shake Shack Inc. has a twelve month low of $77.50 and a twelve month high of $139.89. The firm has a market capitalization of $3.87 billion, a P/E ratio of 395.45 and a beta of 1.89. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $104.20 and its 200 day simple moving average is $115.12.

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