Fintel reports that on December 20, 2023, HSBC initiated coverage of Shake Shack (NYSE:SHAK) with a Hold recommendation.
Analyst Price Forecast Suggests 4.72% Downside
As of December 16, 2023, the average one-year price target for Shake Shack is 69.25. The forecasts range from a low of 56.56 to a high of $89.25. The average price target represents a decrease of 4.72% from its latest reported closing price of 72.68.
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The projected annual revenue for Shake Shack is 1,109MM, an increase of 6.65%. The projected annual non-GAAP EPS is -0.08.
What is the Fund Sentiment?
There are 570 funds or institutions reporting positions in Shake Shack. This is an increase of 15 owner(s) or 2.70% in the last quarter. Average portfolio weight of all funds dedicated to SHAK is 0.18%, a decrease of 6.66%. Total shares owned by institutions increased in the last three months by 1.62% to 40,642K shares. 
The put/call ratio of SHAK is 1.10, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 2,532K shares representing 6.41% ownership of the company. In it's prior filing, the firm reported owning 2,624K shares, representing a decrease of 3.65%. The firm decreased its portfolio allocation in SHAK by 25.21% over the last quarter.
Gilder Gagnon Howe & Co holds 1,722K shares representing 4.36% ownership of the company. In it's prior filing, the firm reported owning 1,568K shares, representing an increase of 8.95%. The firm decreased its portfolio allocation in SHAK by 8.81% over the last quarter.
12 West Capital Management holds 1,660K shares representing 4.20% ownership of the company. In it's prior filing, the firm reported owning 911K shares, representing an increase of 45.12%. The firm increased its portfolio allocation in SHAK by 43.65% over the last quarter.
Engaged Capital holds 1,367K shares representing 3.46% ownership of the company. In it's prior filing, the firm reported owning 1,866K shares, representing a decrease of 36.48%. The firm decreased its portfolio allocation in SHAK by 31.01% over the last quarter.
Marshall Wace, Llp holds 1,303K shares representing 3.30% ownership of the company. In it's prior filing, the firm reported owning 655K shares, representing an increase of 49.72%. The firm decreased its portfolio allocation in SHAK by 3.86% over the last quarter.
Shake Shack Background Information
(This description is provided by the company.)
Shake Shack is a modern day 'roadside' burger stand serving a classic American menu of premium burgers, chicken sandwiches, hot dogs, crinkle cut fries, shakes, frozen custard, beer and wine. With its fresh, simple, high-quality food at a great value, Shake Shack is a fun and lively community gathering place with widespread appeal. Shake Shack's mission is to Stand for Something Good®, from its premium ingredients and caring hiring practices to its inspiring designs and deep community investment. Since the original Shack opened in 2004 in NYC's Madison Square Park, the Company has expanded to approximately 310 locations in 30 U.S. States and the District of Columbia, including more than 105 international locations including London, Hong Kong, Shanghai, Singapore, Philippines, Mexico, Istanbul, Dubai, Tokyo, Seoul and more.
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