State Street Corp Grows Stake in Wingstop Inc. (NASDAQ:WING)

State Street Corp raised its stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 1.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 861,783 shares of the restaurant operator's stock after purchasing an additional 12,549 shares during the period. State Street Corp owned 2.95% of Wingstop worth $358,571,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Stifel Financial Corp grew its holdings in Wingstop by 9.7% during the third quarter. Stifel Financial Corp now owns 17,403 shares of the restaurant operator's stock valued at $7,241,000 after purchasing an additional 1,532 shares during the period. SYM FINANCIAL Corp bought a new position in shares of Wingstop in the third quarter worth about $230,000. Quantinno Capital Management LP bought a new position in shares of Wingstop in the third quarter worth about $552,000. Integrated Wealth Concepts LLC boosted its stake in shares of Wingstop by 3.5% in the third quarter. Integrated Wealth Concepts LLC now owns 2,574 shares of the restaurant operator's stock worth $1,071,000 after acquiring an additional 88 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Wingstop by 392.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 184,068 shares of the restaurant operator's stock worth $76,587,000 after acquiring an additional 146,692 shares during the period.

Wingstop Stock Performance

WING stock traded down $0.74 during midday trading on Tuesday, reaching $327.80. 404,843 shares of the company traded hands, compared to its average volume of 460,835. Wingstop Inc. has a 52-week low of $240.60 and a 52-week high of $433.86. The business has a 50 day moving average of $352.33 and a 200-day moving average of $378.34. The firm has a market capitalization of $9.58 billion, a price-to-earnings ratio of 95.78, a P/E/G ratio of 3.17 and a beta of 1.78.

Wingstop (NASDAQ:WING - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.09). Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The business had revenue of $162.50 million during the quarter, compared to analysts' expectations of $160.24 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company's quarterly revenue was up 38.8% compared to the same quarter last year. Research analysts anticipate that Wingstop Inc. will post 3.68 earnings per share for the current year.

Wingstop announced that its Board of Directors has authorized a stock 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 repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Wingstop Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were issued a $0.27 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.08 annualized dividend and a dividend yield of 0.33%. Wingstop's payout ratio is 31.49%.

Wall Street Analysts Forecast Growth

WING has been the subject of a number of recent analyst reports. Barclays dropped their price objective on Wingstop from $470.00 to $380.00 and set an "overweight" rating for the company in a research note on Thursday, October 31st. Piper Sandler dropped their price objective on Wingstop from $375.00 to $300.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. Benchmark raised Wingstop from a "hold" rating to a "buy" rating and set a $340.00 price objective for the company in a research note on Thursday, October 31st. The Goldman Sachs Group raised Wingstop from a "neutral" rating to a "buy" rating and dropped their price target for the company from $458.00 to $377.00 in a research note on Friday, November 8th. Finally, Citigroup increased their price target on Wingstop from $417.00 to $440.00 and gave the company a "neutral" rating in a research note on Friday, October 4th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $368.74.

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.