Wells Fargo & Company MN Decreases Stake in Wingstop Inc. (NASDAQ:WING)

Wells Fargo & Company MN cut its holdings in Wingstop Inc. (NASDAQ:WING - Free Report) by 12.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,576 shares of the restaurant operator's stock after selling 5,617 shares during the period. Wells Fargo & Company MN owned approximately 0.14% of Wingstop worth $11,248,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. MML Investors Services LLC lifted its position in shares of Wingstop by 22.8% during the 3rd quarter. MML Investors Services LLC now owns 2,529 shares of the restaurant operator's stock valued at $1,052,000 after acquiring an additional 470 shares during the period. Sanctuary Advisors LLC lifted its position in Wingstop by 17.7% during the third quarter. Sanctuary Advisors LLC now owns 1,490 shares of the restaurant operator's stock worth $620,000 after purchasing an additional 224 shares during the period. Tidal Investments LLC lifted its position in Wingstop by 7.8% during the third quarter. Tidal Investments LLC now owns 758 shares of the restaurant operator's stock worth $315,000 after purchasing an additional 55 shares during the period. Franklin Resources Inc. grew its stake in Wingstop by 0.9% during the third quarter. Franklin Resources Inc. now owns 816,991 shares of the restaurant operator's stock worth $326,020,000 after buying an additional 7,204 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new position in Wingstop in the 4th quarter valued at about $259,000.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Northcoast Research downgraded Wingstop from a "buy" rating to a "neutral" rating in a research note on Friday, February 21st. 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 research note on Friday, February 28th. Guggenheim upgraded shares of Wingstop from a "neutral" rating to a "buy" rating and set a $280.00 target price on the stock in a research report on Monday, February 24th. UBS Group lowered their price target on shares of Wingstop from $330.00 to $300.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. Finally, Robert W. Baird cut their price objective on Wingstop from $375.00 to $350.00 and set an "outperform" rating on the stock in a report on Monday, April 7th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $348.23.

Wingstop Price Performance

Shares of WING stock traded up $1.01 during trading hours on Friday, reaching $218.84. The company had a trading volume of 506,236 shares, compared to its average volume of 577,146. The business has a fifty day simple moving average of $236.71 and a 200-day simple moving average of $293.80. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 58.99, a price-to-earnings-growth ratio of 2.27 and a beta of 2.02. Wingstop Inc. has a 12 month low of $205.60 and a 12 month high of $433.86.

Wingstop Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 0.49%. Wingstop's dividend 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.