Proficio Capital Partners LLC Makes New $10.18 Million Investment in Wingstop Inc. (NASDAQ:WING)

Proficio Capital Partners LLC bought a new stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 35,809 shares of the restaurant operator's stock, valued at approximately $10,177,000. Proficio Capital Partners LLC owned approximately 0.12% of Wingstop as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Assetmark Inc. raised its stake in Wingstop by 0.7% during the 4th quarter. Assetmark Inc. now owns 9,042 shares of the restaurant operator's stock valued at $2,570,000 after purchasing an additional 62 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Wingstop by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 204,241 shares of the restaurant operator's stock valued at $58,045,000 after purchasing an additional 1,686 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Wingstop during the fourth quarter valued at about $30,000. Bridges Investment Management Inc. increased its stake in Wingstop by 52.2% in the fourth quarter. Bridges Investment Management Inc. now owns 781 shares of the restaurant operator's stock valued at $222,000 after acquiring an additional 268 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Wingstop by 26.1% in the 4th quarter. US Bancorp DE now owns 6,324 shares of the restaurant operator's stock valued at $1,797,000 after purchasing an additional 1,308 shares in the last quarter.

Wingstop Price Performance

NASDAQ:WING traded up $7.46 during mid-day trading on Wednesday, hitting $214.46. 508,820 shares of the company's stock were exchanged, compared to its average volume of 530,790. The company has a market cap of $6.15 billion, a PE ratio of 57.81, a P/E/G ratio of 2.27 and a beta of 1.88. 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 $266.14 and a 200 day moving average price of $320.74.

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Wingstop announced that its board has approved a share repurchase program on Thursday, December 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 0.50%. Wingstop's payout ratio is currently 29.11%.

Analyst Upgrades and Downgrades

WING has been the topic of several recent research reports. TD Securities decreased their price target on Wingstop from $365.00 to $305.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. UBS Group decreased their price target on Wingstop from $330.00 to $300.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Barclays cut their price objective on shares of Wingstop from $359.00 to $315.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. Benchmark dropped their target price on shares of Wingstop from $340.00 to $325.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Finally, Guggenheim raised Wingstop from a "neutral" rating to a "buy" rating and set a $280.00 target price for the company in a report on Monday, February 24th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $357.67.

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.