Edgestream Partners L.P. Has $552,000 Stake in Wingstop Inc. (NASDAQ:WING)

Edgestream Partners L.P. decreased its position in Wingstop Inc. (NASDAQ:WING - Free Report) by 88.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,943 shares of the restaurant operator's stock after selling 14,408 shares during the quarter. Edgestream Partners L.P.'s holdings in Wingstop were worth $552,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WING. Assetmark Inc. raised its stake in shares of Wingstop by 9.6% in the 3rd quarter. Assetmark Inc. now owns 8,980 shares of the restaurant operator's stock valued at $3,736,000 after purchasing an additional 788 shares during the period. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Wingstop in the third quarter valued at about $260,000. Axxcess Wealth Management LLC acquired a new stake in shares of Wingstop in the third quarter valued at about $485,000. Crossmark Global Holdings Inc. increased its position in shares of Wingstop by 17.8% in the third quarter. Crossmark Global Holdings Inc. now owns 2,326 shares of the restaurant operator's stock valued at $968,000 after acquiring an additional 352 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Wingstop by 28.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,770 shares of the restaurant operator's stock valued at $1,153,000 after acquiring an additional 620 shares during the last quarter.

Wingstop Trading Up 2.8 %

Shares of WING stock opened at $219.35 on Thursday. The stock has a market cap of $6.29 billion, a P/E ratio of 59.12, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88. The stock has a 50 day simple moving average of $272.47 and a 200 day simple moving average of $326.37. Wingstop Inc. has a 1 year low of $207.53 and a 1 year high of $433.86.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop's dividend payout ratio (DPR) is currently 29.11%.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stephens reaffirmed an "overweight" rating and issued a $450.00 target price on shares of Wingstop in a research report on Wednesday, February 19th. UBS Group lowered their target price on Wingstop from $330.00 to $300.00 and set a "neutral" rating on the stock in a research report on Thursday, February 20th. Guggenheim raised Wingstop from a "neutral" rating to a "buy" rating and set a $280.00 target price on the stock in a research report on Monday, February 24th. Morgan Stanley lowered their target price on Wingstop from $389.00 to $375.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. Finally, Wedbush lowered their price target on Wingstop from $390.00 to $355.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $357.67.

Wingstop Profile

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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