Vanguard Group Inc. Sells 5,779 Shares of Wingstop Inc. (NASDAQ:WING)

Vanguard Group Inc. reduced its holdings in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,873,815 shares of the restaurant operator's stock after selling 5,779 shares during the period. Vanguard Group Inc. owned 9.84% of Wingstop worth $816,738,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. LPL Financial LLC boosted its position in shares of Wingstop by 40.8% in the 4th quarter. LPL Financial LLC now owns 16,960 shares of the restaurant operator's stock worth $4,820,000 after purchasing an additional 4,918 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Wingstop in the fourth quarter worth $1,677,000. Sei Investments Co. increased its holdings in shares of Wingstop by 20.7% during the fourth quarter. Sei Investments Co. now owns 102,923 shares of the restaurant operator's stock valued at $29,251,000 after acquiring an additional 17,649 shares in the last quarter. American Century Companies Inc. raised its position in shares of Wingstop by 1.9% in the 4th quarter. American Century Companies Inc. now owns 1,206,062 shares of the restaurant operator's stock worth $342,763,000 after purchasing an additional 22,552 shares during the last quarter. Finally, Virtu Financial LLC boosted its stake in Wingstop by 62.7% in the 4th quarter. Virtu Financial LLC now owns 1,551 shares of the restaurant operator's stock worth $441,000 after purchasing an additional 598 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. UBS Group reduced their price objective on shares of Wingstop from $330.00 to $300.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. BMO Capital Markets decreased their price objective on shares of Wingstop from $335.00 to $300.00 and set a "market perform" rating for the company in a report on Thursday, February 20th. Northcoast Research cut Wingstop from a "buy" rating to a "neutral" rating in a research report on Friday, February 21st. Barclays reduced their target price on Wingstop from $359.00 to $315.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. Finally, Stifel Nicolaus lowered their price target on Wingstop from $375.00 to $350.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Wingstop presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.73.

Remove Ads

Wingstop Price Performance

Shares of WING stock traded up $0.13 during trading hours on Wednesday, reaching $236.53. 389,491 shares of the company traded hands, compared to its average volume of 550,136. The firm has a 50-day moving average price of $255.62 and a 200 day moving average price of $309.67. The company has a market cap of $6.60 billion, a P/E ratio of 63.75, a P/E/G ratio of 2.27 and a beta of 2.01. Wingstop Inc. has a 12-month low of $205.60 and a 12-month high of $433.86.

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

Wingstop Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, March 7th. Wingstop's dividend payout ratio is currently 29.11%.

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.