Daiwa Securities Group Inc. Purchases 2,650 Shares of Wingstop Inc. (NASDAQ:WING)

Daiwa Securities Group Inc. grew its position in Wingstop Inc. (NASDAQ:WING - Free Report) by 125.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,770 shares of the restaurant operator's stock after purchasing an additional 2,650 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Wingstop were worth $1,985,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Cerity Partners LLC boosted its position in shares of Wingstop by 145.2% during the 3rd quarter. Cerity Partners LLC now owns 9,507 shares of the restaurant operator's stock valued at $3,956,000 after purchasing an additional 5,630 shares in the last quarter. Citigroup Inc. lifted its stake in Wingstop by 138.6% in the third quarter. Citigroup Inc. now owns 14,921 shares of the restaurant operator's stock valued at $6,208,000 after buying an additional 53,542 shares during the period. Eagle Asset Management Inc. boosted its holdings in shares of Wingstop by 40.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator's stock worth $193,630,000 after buying an additional 134,802 shares in the last quarter. Banco Santander S.A. acquired a new stake in shares of Wingstop during the 3rd quarter worth approximately $656,000. Finally, Navellier & Associates Inc. increased its stake in shares of Wingstop by 234.5% in the 3rd quarter. Navellier & Associates Inc. now owns 9,938 shares of the restaurant operator's stock valued at $4,135,000 after acquiring an additional 6,967 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on WING shares. The Goldman Sachs Group raised shares of Wingstop from a "neutral" rating to a "buy" rating and cut their target price for the stock from $458.00 to $377.00 in a research note on Friday, November 8th. Raymond James upgraded Wingstop from a "market perform" rating to an "outperform" rating and set a $42.00 target price for the company in a research note on Thursday, August 1st. Truist Financial boosted their target price on Wingstop from $407.00 to $423.00 and gave the company a "hold" rating in a research report on Thursday, August 1st. BTIG Research raised Wingstop from a "neutral" rating to a "buy" rating and set a $370.00 price objective for the company in a research note on Thursday, October 31st. Finally, BMO Capital Markets boosted their price objective on Wingstop from $345.00 to $360.00 and gave the company a "market perform" rating in a report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and thirteen 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 $368.74.

Wingstop Trading Down 0.8 %

Shares of NASDAQ WING traded down $2.50 during midday trading on Friday, hitting $328.77. The company's stock had a trading volume of 215,331 shares, compared to its average volume of 461,494. The stock has a fifty day moving average price of $364.87 and a 200 day moving average price of $380.91. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 96.58, a P/E/G ratio of 3.09 and a beta of 1.76. Wingstop Inc. has a one year low of $238.06 and a one year high of $433.86.

Wingstop (NASDAQ:WING - Get Free Report) last posted its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.09). The company had revenue of $162.50 million for the quarter, compared to analysts' expectations 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 was up 38.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. On average, equities research analysts predict that Wingstop Inc. will post 3.68 earnings per share for the current fiscal year.

Wingstop Announces Dividend

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

About Wingstop

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.