Nordea Investment Management AB Sells 7,481 Shares of Shake Shack, Inc. $SHAK

Nordea Investment Management AB reduced its stake in Shake Shack, Inc. (NYSE:SHAK) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,836 shares of the company’s stock after selling 7,481 shares during the quarter. Nordea Investment Management AB owned about 0.23% of Shake Shack worth $7,969,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SHAK. Geneos Wealth Management Inc. bought a new position in Shake Shack during the 1st quarter worth approximately $26,000. Global Retirement Partners LLC lifted its position in shares of Shake Shack by 83.7% in the 3rd quarter. Global Retirement Partners LLC now owns 327 shares of the company’s stock worth $31,000 after purchasing an additional 149 shares during the period. Murphy & Mullick Capital Management Corp boosted its stake in shares of Shake Shack by 68.5% in the 3rd quarter. Murphy & Mullick Capital Management Corp now owns 418 shares of the company’s stock valued at $38,000 after purchasing an additional 170 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Shake Shack in the 3rd quarter valued at $38,000. Finally, Parallel Advisors LLC increased its position in shares of Shake Shack by 122.6% during the third quarter. Parallel Advisors LLC now owns 590 shares of the company’s stock worth $55,000 after buying an additional 325 shares during the period. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Stock Performance

NYSE:SHAK opened at $89.51 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. Shake Shack, Inc. has a twelve month low of $72.93 and a twelve month high of $144.65. The company has a fifty day moving average of $92.70 and a 200-day moving average of $91.07. The firm has a market capitalization of $3.82 billion, a P/E ratio of 82.12, a P/E/G ratio of 4.85 and a beta of 1.73.

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

Analyst Upgrades and Downgrades

SHAK has been the subject of a number of analyst reports. Zacks Research raised shares of Shake Shack from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Deutsche Bank Aktiengesellschaft raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research report on Tuesday, January 6th. Robert W. Baird lifted their price objective on Shake Shack from $104.00 to $108.00 and gave the stock a “neutral” rating in a research report on Friday, February 27th. Raymond James Financial set a $140.00 price objective on Shake Shack in a research note on Wednesday, January 21st. Finally, DA Davidson began coverage on Shake Shack in a research report on Friday, March 6th. They set a “buy” rating and a $125.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Shake Shack has a consensus rating of “Hold” and a consensus target price of $116.64.

Shake Shack Company Profile

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.