Alberta Investment Management Corp lifted its stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 35.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,836 shares of the restaurant operator's stock after buying an additional 3,588 shares during the period. Alberta Investment Management Corp's holdings in Wingstop were worth $3,932,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its position in Wingstop by 1.5% during the 3rd quarter. State Street Corp now owns 861,783 shares of the restaurant operator's stock worth $358,571,000 after purchasing an additional 12,549 shares during the period. Franklin Resources Inc. lifted its stake in Wingstop by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 816,991 shares of the restaurant operator's stock valued at $326,020,000 after buying an additional 7,204 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Wingstop by 7.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 647,677 shares of the restaurant operator's stock worth $269,485,000 after acquiring an additional 46,772 shares during the last quarter. Eagle Asset Management Inc. raised its position in shares of Wingstop by 40.8% in the third quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator's stock valued at $193,630,000 after buying an additional 134,802 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in Wingstop by 20.5% in the 3rd quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator's stock valued at $174,095,000 after acquiring an additional 71,300 shares during the last quarter.
Analyst Ratings Changes
WING has been the topic of several analyst reports. Benchmark reduced their price target on Wingstop from $340.00 to $325.00 and set a "buy" rating on the stock in a report on Thursday. Wedbush dropped their price objective on Wingstop from $390.00 to $355.00 and set an "outperform" rating for the company in a research note on Thursday. Northcoast Research lowered shares of Wingstop from a "buy" rating to a "neutral" rating in a report on Friday. TD Cowen cut their target price on shares of Wingstop from $450.00 to $365.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Finally, Barclays cut their price target on Wingstop from $359.00 to $315.00 and set an "overweight" rating on the stock in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $367.05.
Check Out Our Latest Research Report on Wingstop
Wingstop Stock Down 5.3 %
NASDAQ:WING traded down $13.07 during midday trading on Friday, reaching $234.02. The stock had a trading volume of 1,991,829 shares, compared to its average volume of 765,071. The stock has a market cap of $6.84 billion, a P/E ratio of 63.08, a P/E/G ratio of 2.38 and a beta of 1.81. The firm has a fifty day simple moving average of $288.89 and a two-hundred day simple moving average of $340.46. Wingstop Inc. has a 12-month low of $232.19 and a 12-month high of $433.86.
Wingstop announced that its Board of Directors has initiated a share buyback program on Thursday, December 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the restaurant operator to reacquire up to 5.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.
Wingstop Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.46%. Wingstop's dividend payout ratio is currently 29.11%.
Insider Transactions at Wingstop
In other Wingstop news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $324.38, for a total transaction of $86,285.08. Following the completion of the transaction, the senior vice president now owns 266 shares in the company, valued at approximately $86,285.08. The trade was a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.36% of the company's stock.
Wingstop Company Profile
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Free Report)
Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.
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