New York State Teachers Retirement System Boosts Stock Position in Wingstop Inc. (NASDAQ:WING)

New York State Teachers Retirement System lifted its holdings in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,752 shares of the restaurant operator's stock after buying an additional 1,893 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of Wingstop worth $10,161,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp lifted its position in shares of Wingstop by 1.5% during the third quarter. State Street Corp now owns 861,783 shares of the restaurant operator's stock worth $358,571,000 after acquiring an additional 12,549 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Wingstop by 0.9% in the third quarter. Franklin Resources Inc. now owns 816,991 shares of the restaurant operator's stock valued at $326,020,000 after purchasing an additional 7,204 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Wingstop by 7.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 647,677 shares of the restaurant operator's stock valued at $269,485,000 after purchasing an additional 46,772 shares during the period. Eagle Asset Management Inc. lifted its holdings in Wingstop by 40.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator's stock worth $193,630,000 after purchasing an additional 134,802 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Wingstop by 20.5% in the 3rd quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator's stock worth $174,095,000 after purchasing an additional 71,300 shares during the period.

Wingstop Trading Down 5.3 %

Shares of WING stock traded down $13.07 during trading hours on Friday, hitting $234.02. 1,991,768 shares of the company's stock were exchanged, compared to its average volume of 765,071. The company has a market capitalization of $6.84 billion, a PE ratio of 63.08, a PEG ratio of 2.38 and a beta of 1.81. Wingstop Inc. has a 12-month low of $232.19 and a 12-month high of $433.86. The business's 50 day simple moving average is $290.24 and its 200-day simple moving average is $341.28.

Wingstop Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Friday, March 7th. Wingstop's payout ratio is presently 29.11%.

Wingstop declared that its board has initiated a stock repurchase program on Thursday, December 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

WING has been the topic of several analyst reports. TD Cowen decreased their price target on Wingstop from $450.00 to $365.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Raymond James reaffirmed an "outperform" rating and set a $330.00 target price (down previously from $375.00) on shares of Wingstop in a report on Tuesday, January 28th. BTIG Research raised shares of 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. TD Securities reduced their price target on shares of Wingstop from $365.00 to $305.00 and set a "buy" rating for the company in a research report on Thursday. Finally, UBS Group lowered their price objective on Wingstop from $330.00 to $300.00 and set a "neutral" rating on the stock in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $367.05.

Insiders Place Their Bets

In other 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 value of $86,285.08. Following the transaction, the senior vice president now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.36% of the stock is currently owned by insiders.

Wingstop 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.