EFG Asset Management Americas Corp. Has $2 Million Stock Holdings in Wingstop Inc. (NASDAQ:WING)

EFG Asset Management Americas Corp. lifted its position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 28.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,049 shares of the restaurant operator's stock after purchasing an additional 1,556 shares during the period. EFG Asset Management Americas Corp.'s holdings in Wingstop were worth $2,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of Wingstop during the fourth quarter worth approximately $115,301,000. Arizona State Retirement System increased its stake in shares of Wingstop by 0.5% during the fourth quarter. Arizona State Retirement System now owns 8,499 shares of the restaurant operator's stock worth $2,415,000 after purchasing an additional 42 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of Wingstop by 3.9% during the fourth quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator's stock worth $256,000 after purchasing an additional 34 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Wingstop during the fourth quarter worth approximately $10,177,000. Finally, Assetmark Inc. increased its stake in shares of Wingstop by 0.7% during the fourth quarter. Assetmark Inc. now owns 9,042 shares of the restaurant operator's stock worth $2,570,000 after purchasing an additional 62 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Stephens restated an "overweight" rating and set a $450.00 price objective on shares of Wingstop in a research note on Wednesday, February 19th. The Goldman Sachs Group upgraded Wingstop from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $458.00 to $377.00 in a research note on Friday, November 8th. Wedbush lowered their price objective on Wingstop from $390.00 to $355.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. Stifel Nicolaus lowered their price objective on Wingstop from $375.00 to $350.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Finally, Guggenheim upgraded Wingstop from a "neutral" rating to a "buy" rating and set a $280.00 price objective on the stock in a research note on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Wingstop has a consensus rating of "Moderate Buy" and an average price target of $357.67.

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Insider Activity at Wingstop

In other Wingstop news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $324.38, for a total transaction of $86,285.08. Following the transaction, the senior vice president now directly owns 266 shares of the company's stock, valued at approximately $86,285.08. The trade was a 50.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.36% of the stock is currently owned by company insiders.

Wingstop Price Performance

Shares of NASDAQ WING traded up $8.84 during mid-day trading on Friday, hitting $227.12. 1,359,486 shares of the stock traded hands, compared to its average volume of 529,016. Wingstop Inc. has a twelve month low of $209.61 and a twelve month high of $433.86. The company has a market cap of $6.51 billion, a PE ratio of 61.22, a price-to-earnings-growth ratio of 2.27 and a beta of 1.81. The firm has a 50 day simple moving average of $276.65 and a two-hundred day simple moving average of $330.04.

Wingstop Announces Dividend

The company also recently disclosed 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. This represents a $1.08 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop's dividend payout ratio (DPR) is 29.11%.

Wingstop declared that its Board of Directors has approved a stock buyback program on Thursday, December 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to repurchase up to 5.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

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.