King Luther Capital Management Corp boosted its holdings in Wingstop Inc. (NASDAQ:WING - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,424 shares of the restaurant operator's stock after purchasing an additional 1,635 shares during the quarter. King Luther Capital Management Corp owned about 0.06% of Wingstop worth $4,952,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Proficio Capital Partners LLC bought a new stake in Wingstop during the 4th quarter worth approximately $10,177,000. SG Americas Securities LLC boosted its position in shares of Wingstop by 277.5% during the fourth quarter. SG Americas Securities LLC now owns 4,771 shares of the restaurant operator's stock valued at $1,356,000 after buying an additional 3,507 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in Wingstop by 779.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 18,461 shares of the restaurant operator's stock worth $5,247,000 after buying an additional 16,361 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Wingstop by 475.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 69,234 shares of the restaurant operator's stock valued at $19,676,000 after buying an additional 57,193 shares during the last quarter. Finally, Conway Capital Management Inc. purchased a new stake in Wingstop in the 3rd quarter valued at $3,544,000.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Wedbush reduced their target price on shares of Wingstop from $390.00 to $355.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Barclays decreased their price objective on shares of Wingstop from $359.00 to $315.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Raymond James reissued an "outperform" rating and set a $330.00 target price (down previously from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Stifel Nicolaus reduced their target price on Wingstop from $375.00 to $350.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, Stephens reiterated an "overweight" rating and set a $450.00 price target on shares of Wingstop in a report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, Wingstop currently has an average rating of "Moderate Buy" and a consensus target price of $357.67.
Check Out Our Latest Stock Analysis on WING
Wingstop Trading Down 3.3 %
Shares of NASDAQ WING traded down $7.13 during mid-day trading on Thursday, hitting $212.22. The company had a trading volume of 558,504 shares, compared to its average volume of 531,007. Wingstop Inc. has a 1 year low of $207.53 and a 1 year high of $433.86. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 57.20, a P/E/G ratio of 2.27 and a beta of 1.88. The stock's 50-day moving average price is $272.47 and its 200-day moving average price is $326.37.
Wingstop Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Friday, March 7th. Wingstop's payout ratio is 29.11%.
Wingstop announced that its board has authorized a share buyback program on Thursday, December 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the restaurant operator to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
About Wingstop
(
Free Report)
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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