Vestcor Inc Has $4.54 Million Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Vestcor Inc reduced its stake in Wingstop Inc. (NASDAQ:WING - Free Report) by 12.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,976 shares of the restaurant operator's stock after selling 2,263 shares during the period. Vestcor Inc owned approximately 0.05% of Wingstop worth $4,540,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Verdence Capital Advisors LLC boosted its holdings in Wingstop by 3.9% in the fourth quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator's stock valued at $256,000 after purchasing an additional 34 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Wingstop by 0.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,523 shares of the restaurant operator's stock valued at $4,794,000 after purchasing an additional 35 shares during the period. V Square Quantitative Management LLC grew its position in shares of Wingstop by 34.9% during the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator's stock worth $41,000 after acquiring an additional 37 shares during the last quarter. Arizona State Retirement System grew its position in Wingstop by 0.5% in the 4th quarter. Arizona State Retirement System now owns 8,499 shares of the restaurant operator's stock worth $2,415,000 after purchasing an additional 42 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Wingstop by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 897 shares of the restaurant operator's stock valued at $255,000 after acquiring an additional 47 shares during the period.

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Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WING shares. Stifel Nicolaus cut their target price on Wingstop from $375.00 to $350.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Benchmark lowered their price target on Wingstop from $340.00 to $325.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Stephens reiterated an "overweight" rating and issued a $450.00 target price on shares of Wingstop in a research report on Wednesday, February 19th. BMO Capital Markets cut their price objective on shares of Wingstop from $335.00 to $300.00 and set a "market perform" rating on the stock in a research report on Thursday, February 20th. Finally, Morgan Stanley reduced their price target on Wingstop from $389.00 to $375.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, Wingstop has an average rating of "Moderate Buy" and a consensus price target of $357.67.

Wingstop Price Performance

Shares of WING traded down $7.16 on Tuesday, reaching $207.00. 736,094 shares of the stock traded hands, compared to its average volume of 530,429. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 55.80, a P/E/G ratio of 2.27 and a beta of 1.88. The stock's 50-day moving average price is $267.64 and its 200-day moving average price is $322.00. Wingstop Inc. has a 12 month low of $205.62 and a 12 month high of $433.86.

Wingstop Announces Dividend

The firm also recently announced 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 is Friday, March 7th. This represents a $1.08 dividend on an annualized basis and a yield of 0.52%. Wingstop's payout ratio is currently 29.11%.

Wingstop declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the restaurant operator to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is undervalued.

About Wingstop

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.