Nicholas Company Inc. purchased a new position in Wingstop Inc. (NASDAQ:WING - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 37,198 shares of the restaurant operator's stock, valued at approximately $10,572,000. Nicholas Company Inc. owned 0.13% of Wingstop at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of WING. Raymond James Financial Inc. purchased a new position in shares of Wingstop in the fourth quarter worth about $115,301,000. FMR LLC increased its holdings in Wingstop by 984.7% during the 3rd quarter. FMR LLC now owns 217,946 shares of the restaurant operator's stock worth $90,683,000 after acquiring an additional 197,853 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Wingstop by 392.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 184,068 shares of the restaurant operator's stock worth $76,587,000 after purchasing an additional 146,692 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Wingstop by 40.8% in 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 holdings in Wingstop by 20.5% in the 3rd quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator's stock valued at $174,095,000 after purchasing an additional 71,300 shares during the period.
Wingstop Stock Performance
Shares of WING stock traded up $5.54 during trading hours on Thursday, reaching $220.19. The company had a trading volume of 510,736 shares, compared to its average volume of 530,455. Wingstop Inc. has a one year low of $205.60 and a one year high of $433.86. The business has a fifty day moving average price of $264.86 and a 200-day moving average price of $320.00. The firm has a market cap of $6.31 billion, a PE ratio of 59.35, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88.
Wingstop Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.27 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.49%. Wingstop's dividend payout ratio (DPR) is currently 29.11%.
Wingstop declared that its board has initiated a share repurchase program on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its stock is undervalued.
Analysts Set New Price Targets
WING has been the subject of several research analyst reports. UBS Group dropped their price objective on Wingstop from $330.00 to $300.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Northcoast Research lowered shares of Wingstop from a "buy" rating to a "neutral" rating in a report on Friday, February 21st. Stephens reaffirmed an "overweight" rating and issued a $450.00 price target on shares of Wingstop in a research note on Wednesday, February 19th. Barclays reduced their price objective on shares of Wingstop from $359.00 to $315.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. Finally, BMO Capital Markets cut their target price on shares of Wingstop from $335.00 to $300.00 and set a "market perform" rating on the stock in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $357.67.
Read Our Latest Analysis on WING
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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