Teacher Retirement System of Texas Grows Stock Position in Wingstop Inc. (NASDAQ:WING)

Teacher Retirement System of Texas boosted its position in Wingstop Inc. (NASDAQ:WING - Free Report) by 37.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,200 shares of the restaurant operator's stock after purchasing an additional 3,892 shares during the quarter. Teacher Retirement System of Texas' holdings in Wingstop were worth $4,036,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WING. True Wealth Design LLC purchased a new position in shares of Wingstop in the third quarter worth about $36,000. EverSource Wealth Advisors LLC lifted its stake in Wingstop by 521.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator's stock worth $25,000 after purchasing an additional 73 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Wingstop by 62.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator's stock worth $26,000 after purchasing an additional 35 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Wingstop in the fourth quarter valued at approximately $30,000. Finally, V Square Quantitative Management LLC increased its holdings in shares of Wingstop by 34.9% in the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator's stock valued at $41,000 after purchasing an additional 37 shares during the last quarter.

Wingstop Price Performance

Shares of NASDAQ WING traded up $12.16 during midday trading on Thursday, hitting $232.53. 166,947 shares of the company's stock were exchanged, compared to its average volume of 535,327. The firm's fifty day simple moving average is $259.33 and its 200-day simple moving average is $314.57. The company has a market cap of $6.67 billion, a PE ratio of 62.67, a P/E/G ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a twelve month low of $205.60 and a twelve month high of $433.86.

Remove Ads

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

Wingstop Announces Dividend

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 dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.46%. Wingstop's dividend payout ratio is currently 29.11%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley dropped their target price on Wingstop from $389.00 to $375.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. Stifel Nicolaus dropped their price objective on shares of Wingstop from $375.00 to $350.00 and set a "buy" rating for the company in a report on Friday, February 28th. BMO Capital Markets reduced 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. Benchmark dropped their price target on shares of Wingstop from $340.00 to $325.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, Northcoast Research downgraded shares of Wingstop from a "buy" rating to a "neutral" rating in a report on Friday, February 21st. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $353.68.

Wingstop Company 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.