Wealthfront Advisers LLC Makes New Investment in Wingstop Inc. (NASDAQ:WING)

Wealthfront Advisers LLC bought a new position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 69,151 shares of the restaurant operator's stock, valued at approximately $19,653,000. Wealthfront Advisers LLC owned 0.24% of Wingstop at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in shares of Wingstop in the third quarter valued at $36,000. SBI Securities Co. Ltd. bought a new position in shares of Wingstop during the 4th quarter valued at about $30,000. V Square Quantitative Management LLC increased its stake in Wingstop by 34.9% in the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator's stock worth $41,000 after purchasing an additional 37 shares in the last quarter. R Squared Ltd purchased a new position in Wingstop during the 4th quarter valued at about $71,000. Finally, Blue Trust Inc. increased its position in Wingstop by 103.2% in the 4th quarter. Blue Trust Inc. now owns 256 shares of the restaurant operator's stock worth $73,000 after purchasing an additional 130 shares during the last quarter.

Insider Buying and Selling

In other news, SVP Raj Kapoor sold 266 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $324.38, for a total value of $86,285.08. Following the completion of the transaction, the senior vice president now owns 266 shares of the company's stock, valued at approximately $86,285.08. This represents a 50.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WING. Barclays cut their target price on shares of Wingstop from $359.00 to $315.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. UBS Group cut their price objective on shares of Wingstop from $330.00 to $300.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Stifel Nicolaus lowered their price target on Wingstop from $375.00 to $350.00 and set a "buy" rating for the company in a report on Friday, February 28th. Northcoast Research cut Wingstop from a "buy" rating to a "neutral" rating in a report on Friday, February 21st. Finally, Benchmark cut their target price 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. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $357.67.

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Wingstop Trading Down 0.2 %

NASDAQ:WING opened at $213.36 on Wednesday. Wingstop Inc. has a 1-year low of $207.53 and a 1-year high of $433.86. The stock has a market cap of $6.12 billion, a P/E ratio of 57.51, a PEG ratio of 2.27 and a beta of 1.88. The stock has a 50 day simple moving average of $273.76 and a 200 day simple moving average of $327.12.

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

Wingstop Dividend Announcement

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 given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop's payout ratio is currently 29.11%.

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.

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