Geode Capital Management LLC Has $221.79 Million Stock Position in Wingstop Inc. (NASDAQ:WING)

Geode Capital Management LLC decreased its holdings in Wingstop Inc. (NASDAQ:WING - Free Report) by 7.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 532,917 shares of the restaurant operator's stock after selling 45,516 shares during the quarter. Geode Capital Management LLC owned approximately 1.82% of Wingstop worth $221,789,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WING. Hollencrest Capital Management purchased a new stake in Wingstop during the 2nd quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Wingstop in the second quarter worth $34,000. True Wealth Design LLC acquired a new stake in Wingstop in the third quarter valued at $36,000. V Square Quantitative Management LLC raised its holdings in Wingstop by 60.6% in the third quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator's stock valued at $44,000 after acquiring an additional 40 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Wingstop by 384.6% during the 3rd quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator's stock valued at $53,000 after acquiring an additional 100 shares during the last quarter.

Wingstop Price Performance

WING stock traded down $21.56 on Friday, reaching $301.33. The company's stock had a trading volume of 926,078 shares, compared to its average volume of 406,553. Wingstop Inc. has a 52 week low of $240.60 and a 52 week high of $433.86. The company has a market capitalization of $8.80 billion, a P/E ratio of 87.85, a price-to-earnings-growth ratio of 2.81 and a beta of 1.78. The firm has a fifty day moving average of $344.52 and a two-hundred day moving average of $376.49.

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

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.36%. Wingstop's dividend payout ratio (DPR) is 31.49%.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WING shares. TD Cowen cut their target price on shares of Wingstop from $450.00 to $365.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Stephens restated an "overweight" rating and set a $468.00 price objective on shares of Wingstop in a research note on Monday, December 9th. The Goldman Sachs Group raised Wingstop from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $458.00 to $377.00 in a report on Friday, November 8th. BTIG Research upgraded Wingstop from a "neutral" rating to a "buy" rating and set a $370.00 price target for the company in a report on Thursday, October 31st. Finally, Citigroup raised their price objective on Wingstop from $417.00 to $440.00 and gave the stock a "neutral" rating in a research note on Friday, October 4th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $368.74.

Insider Activity

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $324.38, for a total value of $86,285.08. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.36% of the company's stock.

Wingstop Company 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.