KLP Kapitalforvaltning AS acquired a new position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,900 shares of the restaurant operator's stock, valued at approximately $1,677,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new stake in shares of Wingstop during the fourth quarter worth about $10,177,000. SG Americas Securities LLC grew its stake in Wingstop by 277.5% in the fourth quarter. SG Americas Securities LLC now owns 4,771 shares of the restaurant operator's stock valued at $1,356,000 after purchasing an additional 3,507 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of Wingstop by 779.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 18,461 shares of the restaurant operator's stock valued at $5,247,000 after purchasing an additional 16,361 shares during the period. Los Angeles Capital Management LLC raised its stake in Wingstop by 475.0% in the fourth 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 period. Finally, Conway Capital Management Inc. bought a new stake in Wingstop in the 3rd quarter valued at $3,544,000.
Wingstop Stock Up 3.9 %
Shares of WING stock traded up $8.90 on Tuesday, reaching $234.48. The company had a trading volume of 545,514 shares, compared to its average volume of 547,984. The stock has a market capitalization of $6.54 billion, a PE ratio of 63.23, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88. The business's 50-day moving average is $256.50 and its 200 day moving average is $310.78. Wingstop Inc. has a one year low of $205.60 and a one year high of $433.86.
Wingstop announced that its Board of Directors has authorized a share repurchase program on Thursday, December 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the restaurant operator to reacquire up to 5.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.
Wingstop Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. Wingstop's dividend payout ratio (DPR) is presently 29.11%.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on WING. Northcoast Research lowered shares of Wingstop from a "buy" rating to a "neutral" rating in a research note on Friday, February 21st. Benchmark decreased their target price on Wingstop from $340.00 to $325.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. TD Securities dropped their price target on Wingstop from $365.00 to $305.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Jefferies Financial Group raised Wingstop from a "hold" rating to a "buy" rating and set a $270.00 price objective on the stock in a report on Monday. Finally, Wells Fargo & Company assumed coverage on Wingstop in a research report on Wednesday, March 26th. They set an "overweight" rating and a $270.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Wingstop currently has an average rating of "Moderate Buy" and a consensus price target of $350.73.
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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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