Wingstop Inc. (NASDAQ:WING) Shares Acquired by Vestcor Inc

Vestcor Inc increased its position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 44.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,239 shares of the restaurant operator's stock after purchasing an additional 5,572 shares during the quarter. Vestcor Inc owned 0.06% of Wingstop worth $7,589,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WING. Hollencrest Capital Management acquired a new position in Wingstop during the second quarter worth $27,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Wingstop in the second quarter worth $34,000. True Wealth Design LLC acquired a new position in shares of Wingstop in the third quarter worth $36,000. V Square Quantitative Management LLC raised its holdings in shares of Wingstop by 60.6% in the third quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator's stock worth $44,000 after acquiring an additional 40 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Wingstop by 384.6% in the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator's stock worth $53,000 after acquiring an additional 100 shares during the last quarter.

Wingstop Price Performance

WING stock traded down $0.74 during trading on Tuesday, reaching $327.80. 404,844 shares of the stock traded hands, compared to its average volume of 460,835. The business's 50 day moving average price is $350.47 and its 200-day moving average price is $377.94. Wingstop Inc. has a 52-week low of $240.60 and a 52-week high of $433.86. The firm has a market capitalization of $9.58 billion, a PE ratio of 95.57, a P/E/G ratio of 3.17 and a beta of 1.78.

Wingstop (NASDAQ:WING - Get Free Report) last issued 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 company had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The company's revenue for the quarter was up 38.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 EPS. On average, equities research analysts predict that Wingstop Inc. will post 3.68 earnings per share for the current year.

Wingstop declared that its board has approved a stock buyback program on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Friday, November 15th. Wingstop's dividend payout ratio is presently 31.49%.

Wall Street Analysts Forecast Growth

WING has been the subject of a number of analyst reports. Wedbush reissued an "outperform" rating and issued a $390.00 price target on shares of Wingstop in a report on Tuesday, November 5th. Stephens reissued an "overweight" rating and issued a $468.00 price target on shares of Wingstop in a report on Monday. BTIG Research raised Wingstop from a "neutral" rating to a "buy" rating and set a $370.00 price target for the company in a report on Thursday, October 31st. TD Cowen lowered their price objective on Wingstop from $450.00 to $365.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Finally, Northcoast Research raised Wingstop from a "neutral" rating to a "buy" rating and set a $350.00 price objective for the company in a research report on Friday, November 1st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $368.74.

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.