Summit Global Investments purchased a new stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,013 shares of the restaurant operator's stock, valued at approximately $3,334,000.
Several other hedge funds and other institutional investors have also bought and sold shares of WING. Pittenger & Anderson Inc. grew its stake in shares of Wingstop by 100.0% in the 3rd quarter. Pittenger & Anderson Inc. now owns 490 shares of the restaurant operator's stock worth $204,000 after buying an additional 245 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Wingstop by 64.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 3,741 shares of the restaurant operator's stock worth $1,557,000 after purchasing an additional 1,462 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Wingstop by 34.9% during the third quarter. Harbor Capital Advisors Inc. now owns 12,175 shares of the restaurant operator's stock worth $5,066,000 after buying an additional 3,147 shares during the period. Farther Finance Advisors LLC boosted its position in Wingstop by 942.3% in the third quarter. Farther Finance Advisors LLC now owns 271 shares of the restaurant operator's stock valued at $113,000 after buying an additional 245 shares during the last quarter. Finally, Stephens Inc. AR grew its stake in shares of Wingstop by 3.9% during the 3rd quarter. Stephens Inc. AR now owns 1,873 shares of the restaurant operator's stock worth $779,000 after purchasing an additional 71 shares during the period.
Wall Street Analyst Weigh In
WING has been the topic of several research analyst reports. Barclays cut their price objective on Wingstop from $470.00 to $380.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. The Goldman Sachs Group upgraded Wingstop from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $458.00 to $377.00 in a research report on Friday. Morgan Stanley upped their price objective on Wingstop from $390.00 to $400.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 16th. BTIG Research upgraded Wingstop from a "neutral" rating to a "buy" rating and set a $370.00 price target for the company in a research note on Thursday, October 31st. Finally, Wedbush restated an "outperform" rating and set a $390.00 price objective on shares of Wingstop in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Wingstop has an average rating of "Moderate Buy" and a consensus price target of $368.74.
Check Out Our Latest Report on WING
Wingstop Stock Performance
Shares of NASDAQ:WING traded up $8.00 on Friday, reaching $339.89. The company's stock had a trading volume of 481,918 shares, compared to its average volume of 459,880. The company has a market cap of $9.93 billion, a P/E ratio of 96.76, a PEG ratio of 2.94 and a beta of 1.76. The company has a 50-day simple moving average of $381.45 and a 200 day simple moving average of $385.89. Wingstop Inc. has a 52-week low of $204.01 and a 52-week high of $433.86.
Wingstop (NASDAQ:WING - Get Free Report) last released its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing analysts' consensus estimates of $0.97 by ($0.09). Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The company had revenue of $162.50 million during the quarter, compared to analyst estimates of $160.24 million. The firm's revenue for the quarter was up 38.8% on a year-over-year basis. During the same quarter last year, the business earned $0.69 earnings per share. On average, equities research analysts forecast that Wingstop Inc. will post 3.68 EPS for the current fiscal year.
Wingstop Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Friday, November 15th. Wingstop's payout ratio is currently 31.49%.
Wingstop Company Profile
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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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