Invesco Ltd. Has $148.03 Million Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Invesco Ltd. trimmed its position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 29.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 520,877 shares of the restaurant operator's stock after selling 216,646 shares during the period. Invesco Ltd. owned about 1.78% of Wingstop worth $148,033,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WING. Raymond James Financial Inc. bought a new position in shares of Wingstop during the fourth quarter valued at approximately $115,301,000. Norges Bank purchased a new stake in shares of Wingstop in the fourth quarter worth $106,123,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Wingstop by 23.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 801,732 shares of the restaurant operator's stock valued at $227,852,000 after buying an additional 154,055 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Wingstop by 21.4% in the fourth quarter. Alliancebernstein L.P. now owns 573,999 shares of the restaurant operator's stock worth $163,131,000 after purchasing an additional 101,247 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in shares of Wingstop by 47.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 268,657 shares of the restaurant operator's stock valued at $76,352,000 after acquiring an additional 86,077 shares during the last quarter.

Wingstop Stock Down 3.0 %

Wingstop stock traded down $6.83 during trading hours on Wednesday, hitting $217.83. The stock had a trading volume of 682,360 shares, compared to its average volume of 576,944. The company has a 50-day moving average of $240.25 and a two-hundred day moving average of $295.70. The company has a market cap of $6.08 billion, a PE ratio of 58.71, a price-to-earnings-growth ratio of 2.27 and a beta of 2.02. Wingstop Inc. has a fifty-two week low of $205.60 and a fifty-two week high of $433.86.

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Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Friday, March 7th. Wingstop's dividend payout ratio is 29.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WING shares. Stifel Nicolaus decreased their price target on Wingstop from $375.00 to $350.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Raymond James reaffirmed an "outperform" rating and set a $330.00 price target (down previously from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. BTIG Research reissued a "buy" rating on shares of Wingstop in a report on Tuesday, March 25th. Benchmark lowered their price target on shares of Wingstop from $340.00 to $325.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Finally, Jefferies Financial Group raised Wingstop from a "hold" rating to a "buy" rating and set a $270.00 price target for the company in a report on Monday, March 31st. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $348.23.

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.