Franklin Resources Inc. Has $326.02 Million Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Franklin Resources Inc. raised its stake in Wingstop Inc. (NASDAQ:WING - Free Report) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 816,991 shares of the restaurant operator's stock after purchasing an additional 7,204 shares during the period. Franklin Resources Inc. owned 2.80% of Wingstop worth $326,020,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WING. Tidal Investments LLC increased its position in Wingstop by 7.8% during the 3rd quarter. Tidal Investments LLC now owns 758 shares of the restaurant operator's stock worth $315,000 after purchasing an additional 55 shares during the period. Sanctuary Advisors LLC grew its holdings in Wingstop by 17.7% in the third quarter. Sanctuary Advisors LLC now owns 1,490 shares of the restaurant operator's stock valued at $620,000 after purchasing an additional 224 shares during the period. Vestcor Inc raised its holdings in shares of Wingstop by 44.0% in the 3rd quarter. Vestcor Inc now owns 18,239 shares of the restaurant operator's stock worth $7,589,000 after purchasing an additional 5,572 shares during the period. Conway Capital Management Inc. purchased a new position in Wingstop in the third quarter valued at about $3,544,000. Finally, Public Employees Retirement System of Ohio grew its position in 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 in the last quarter.

Wingstop Stock Performance

Shares of NASDAQ:WING traded down $21.56 on Friday, hitting $301.33. 926,078 shares of the company were exchanged, compared to its average volume of 406,553. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 87.85, a PEG ratio of 2.81 and a beta of 1.78. Wingstop Inc. has a one year low of $240.60 and a one year high of $433.86. The company's 50 day moving average price is $344.52 and its two-hundred day moving average price is $376.66.

Wingstop (NASDAQ:WING - Get Free Report) last posted its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.09). The company had revenue of $162.50 million for the quarter, compared to the consensus estimate of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. Wingstop's quarterly revenue was up 38.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 EPS. Research analysts predict that Wingstop Inc. will post 3.67 earnings per share for the current year.

Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, November 15th. This represents a $1.08 annualized dividend and a yield of 0.36%. Wingstop's dividend payout ratio is currently 31.49%.

Wingstop announced that its board has initiated a stock buyback plan on Thursday, December 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WING. Stephens restated an "overweight" rating and set a $468.00 price objective on shares of Wingstop in a research note on Monday, December 9th. Piper Sandler dropped their price objective on shares of Wingstop from $375.00 to $300.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. TD Cowen decreased their price target on Wingstop from $450.00 to $365.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Wedbush reiterated an "outperform" rating and issued a $390.00 price target on shares of Wingstop in a research report on Tuesday, November 5th. Finally, Barclays dropped their price target on Wingstop from $470.00 to $380.00 and set an "overweight" rating on the stock in a research note on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Wingstop currently has an average rating of "Moderate Buy" and a consensus price target of $368.74.

Insiders Place Their Bets

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 in the company, valued at approximately $86,285.08. The trade was a 50.00 % decrease in their ownership of the stock. The transaction 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.

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.