Amundi Sells 9,476 Shares of Wingstop Inc. (NASDAQ:WING)

Amundi lowered its stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 66.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,778 shares of the restaurant operator's stock after selling 9,476 shares during the quarter. Amundi's holdings in Wingstop were worth $1,331,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Verdence Capital Advisors LLC boosted its position in shares of Wingstop by 3.9% in the fourth quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator's stock valued at $256,000 after acquiring an additional 34 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Wingstop by 0.3% in the third quarter. Public Employees Retirement System of Ohio now owns 11,523 shares of the restaurant operator's stock valued at $4,794,000 after acquiring an additional 35 shares during the period. V Square Quantitative Management LLC boosted its position in shares of Wingstop by 34.9% in the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator's stock valued at $41,000 after acquiring an additional 37 shares during the period. Arizona State Retirement System boosted its position in shares of Wingstop by 0.5% in the fourth quarter. Arizona State Retirement System now owns 8,499 shares of the restaurant operator's stock valued at $2,415,000 after acquiring an additional 42 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Wingstop by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 897 shares of the restaurant operator's stock valued at $255,000 after acquiring an additional 47 shares during the period.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Guggenheim raised Wingstop from a "neutral" rating to a "buy" rating and set a $280.00 price objective for the company in a research report on Monday, February 24th. BMO Capital Markets cut their target price on Wingstop from $335.00 to $300.00 and set a "market perform" rating for the company in a research note on Thursday, February 20th. Stephens restated an "overweight" rating and issued a $450.00 target price on shares of Wingstop in a research note on Wednesday, February 19th. Stifel Nicolaus cut their target price on Wingstop from $375.00 to $350.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Finally, Northcoast Research lowered Wingstop from a "buy" rating to a "neutral" rating in a research note on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Wingstop has an average rating of "Moderate Buy" and an average price target of $357.67.

Wingstop Price Performance

Shares of NASDAQ:WING traded down $4.73 during midday trading on Friday, reaching $215.46. The company's stock had a trading volume of 1,311,173 shares, compared to its average volume of 534,016. Wingstop Inc. has a fifty-two week low of $205.60 and a fifty-two week high of $433.86. The company has a market capitalization of $6.18 billion, a P/E ratio of 58.08, a P/E/G ratio of 2.27 and a beta of 1.88. The business's fifty day simple moving average is $262.51 and its 200-day simple moving average is $318.12.

Wingstop announced that its Board of Directors has authorized a share buyback plan on Thursday, December 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the restaurant operator to purchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Wingstop Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.27 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.50%. Wingstop's dividend payout ratio (DPR) is presently 29.11%.

About Wingstop

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.