Wellington Management Group LLP lowered its stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 40.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 231,043 shares of the restaurant operator's stock after selling 158,973 shares during the period. Wellington Management Group LLP owned approximately 0.79% of Wingstop worth $96,132,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Worldquant Millennium Advisors LLC purchased a new stake in shares of Wingstop in the third quarter valued at about $1,794,000. Two Sigma Advisers LP grew its position in Wingstop by 20.5% in the 3rd quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator's stock worth $174,095,000 after purchasing an additional 71,300 shares in the last quarter. State Street Corp grew its position in Wingstop by 1.5% in the 3rd quarter. State Street Corp now owns 861,783 shares of the restaurant operator's stock worth $358,571,000 after purchasing an additional 12,549 shares in the last quarter. Stifel Financial Corp increased its stake in Wingstop by 9.7% in the 3rd quarter. Stifel Financial Corp now owns 17,403 shares of the restaurant operator's stock valued at $7,241,000 after buying an additional 1,532 shares during the last quarter. Finally, SYM FINANCIAL Corp bought a new position in shares of Wingstop during the 3rd quarter worth approximately $230,000.
Analyst Upgrades and Downgrades
A number of analysts recently commented on WING shares. BTIG Research raised Wingstop from a "neutral" rating to a "buy" rating and set a $370.00 price target for the company in a research report on Thursday, October 31st. The Goldman Sachs Group raised Wingstop from a "neutral" rating to a "buy" rating and decreased their target price for the company from $458.00 to $377.00 in a research report on Friday, November 8th. Barclays reduced their price target on shares of Wingstop from $470.00 to $380.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Benchmark raised shares of Wingstop from a "hold" rating to a "buy" rating and set a $340.00 price objective on the stock in a research report on Thursday, October 31st. Finally, TD Cowen dropped their target price on shares of Wingstop from $450.00 to $365.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $368.74.
Get Our Latest Analysis on Wingstop
Wingstop Stock Performance
NASDAQ WING traded down $0.74 during trading hours on Tuesday, hitting $327.80. The company had a trading volume of 404,844 shares, compared to its average volume of 460,835. The firm has a market capitalization of $9.58 billion, a price-to-earnings ratio of 95.78, a PEG ratio of 3.17 and a beta of 1.78. Wingstop Inc. has a 52 week low of $240.60 and a 52 week high of $433.86. The firm has a 50 day simple moving average of $352.33 and a 200 day simple moving average of $378.34.
Wingstop (NASDAQ:WING - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing analysts' consensus estimates of $0.97 by ($0.09). The firm had revenue of $162.50 million during the quarter, compared to the consensus estimate of $160.24 million. Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. Wingstop's revenue was up 38.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. On average, research analysts forecast that Wingstop Inc. will post 3.68 earnings per share for the current year.
Wingstop Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.08 annualized dividend and a dividend yield of 0.33%. Wingstop's payout ratio is currently 31.49%.
Wingstop announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the restaurant operator to repurchase up to 5.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.
About Wingstop
(
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.
Further Reading
![Institutional Ownership by Quarter for Wingstop (NASDAQ:WING)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NASDAQ&Symbol=WING)
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