Alliancebernstein L.P. raised its holdings in Wingstop Inc. (NASDAQ:WING - Free Report) by 21.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 573,999 shares of the restaurant operator's stock after acquiring an additional 101,247 shares during the period. Alliancebernstein L.P. owned about 1.97% of Wingstop worth $163,131,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of WING. EverSource Wealth Advisors LLC grew its stake in Wingstop by 521.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator's stock valued at $25,000 after purchasing an additional 73 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in shares of Wingstop by 62.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator's stock valued at $26,000 after buying an additional 35 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Wingstop during the fourth quarter worth $30,000. V Square Quantitative Management LLC raised its position in Wingstop by 34.9% during the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator's stock worth $41,000 after acquiring an additional 37 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Wingstop in the fourth quarter valued at $71,000.
Analysts Set New Price Targets
A number of research firms recently weighed in on WING. BTIG Research restated a "buy" rating on shares of Wingstop in a research note on Tuesday, March 25th. Guggenheim upgraded shares of Wingstop from a "neutral" rating to a "buy" rating and set a $280.00 price target on the stock in a research note on Monday, February 24th. Barclays dropped their price objective on shares of Wingstop from $359.00 to $315.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Morgan Stanley decreased their target price on shares of Wingstop from $389.00 to $375.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. Finally, TD Securities dropped their price target on shares of Wingstop from $365.00 to $305.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $350.73.
View Our Latest Report on WING
Wingstop Stock Performance
Shares of WING stock traded up $6.82 on Thursday, hitting $242.78. The company had a trading volume of 2,292,334 shares, compared to its average volume of 558,469. Wingstop Inc. has a twelve month low of $205.60 and a twelve month high of $433.86. The firm has a market cap of $6.77 billion, a P/E ratio of 65.44, a P/E/G ratio of 2.27 and a beta of 2.01. The stock's 50-day moving average is $253.75 and its two-hundred day moving average is $308.69.
Wingstop Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a $0.27 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.44%. Wingstop's dividend payout ratio (DPR) is currently 29.11%.
Wingstop declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.
Wingstop 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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