Jupiter Asset Management Ltd. increased its stake in Wingstop Inc. (NASDAQ:WING - Free Report) by 153.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,853 shares of the restaurant operator's stock after purchasing an additional 48,898 shares during the period. Jupiter Asset Management Ltd. owned 0.28% of Wingstop worth $22,978,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WING. True Wealth Design LLC bought a new position in shares of Wingstop during the third quarter worth about $36,000. EverSource Wealth Advisors LLC grew its position in Wingstop by 521.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator's stock worth $25,000 after purchasing an additional 73 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Wingstop in the fourth quarter valued at approximately $30,000. V Square Quantitative Management LLC raised its holdings 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 valued at $41,000 after buying an additional 37 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Wingstop during the fourth quarter worth approximately $71,000.
Wingstop Price Performance
Shares of NASDAQ WING traded down $7.13 during trading hours on Thursday, reaching $212.22. The stock had a trading volume of 558,504 shares, compared to its average volume of 531,007. The company has a market cap of $6.08 billion, a price-to-earnings ratio of 57.20, a PEG ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a twelve month low of $207.53 and a twelve month high of $433.86. The business's fifty day moving average is $272.47 and its two-hundred day moving average is $326.37.
Wingstop announced that its board has authorized a share buyback plan on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to buy up to 5.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.
Wingstop Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop's dividend payout ratio is 29.11%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on WING. BMO Capital Markets decreased their price target on Wingstop from $335.00 to $300.00 and set a "market perform" rating for the company in a research note on Thursday, February 20th. TD Securities lowered their target price on shares of Wingstop from $365.00 to $305.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Guggenheim raised Wingstop from a "neutral" rating to a "buy" rating and set a $280.00 target price on the stock in a report on Monday, February 24th. Wedbush decreased their price target on Wingstop from $390.00 to $355.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Finally, Benchmark lowered their target price on Wingstop from $340.00 to $325.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, Wingstop presently has a consensus rating of "Moderate Buy" and a consensus price target of $357.67.
Get Our Latest Analysis on WING
Wingstop Company Profile
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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.
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