Blueshift Asset Management LLC Trims Stock Position in Wingstop Inc. (NASDAQ:WING)

Blueshift Asset Management LLC reduced its position in Wingstop Inc. (NASDAQ:WING - Free Report) by 88.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,016 shares of the restaurant operator's stock after selling 15,621 shares during the period. Blueshift Asset Management LLC's holdings in Wingstop were worth $573,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WING. EverSource Wealth Advisors LLC grew its stake in shares of 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 buying an additional 73 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Wingstop by 62.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator's stock valued at $26,000 after acquiring an additional 35 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Wingstop in the fourth quarter worth about $30,000. True Wealth Design LLC purchased a new position in Wingstop in the third quarter worth about $36,000. Finally, V Square Quantitative Management LLC increased its stake in Wingstop by 34.9% during the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator's stock worth $41,000 after acquiring an additional 37 shares during the last quarter.

Wingstop Stock Down 1.1 %

Shares of Wingstop stock traded down $2.54 on Tuesday, reaching $220.08. The stock had a trading volume of 530,832 shares, compared to its average volume of 536,195. Wingstop Inc. has a 1 year low of $205.60 and a 1 year high of $433.86. The company has a 50 day moving average price of $261.44 and a 200 day moving average price of $316.24. The stock has a market capitalization of $6.31 billion, a P/E ratio of 59.32, a P/E/G ratio of 2.27 and a beta of 1.88.

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Wingstop announced that its board has approved a share repurchase program on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Wingstop Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.49%. Wingstop's dividend payout ratio (DPR) is 29.11%.

Wall Street Analysts Forecast Growth

WING has been the subject of a number of recent research reports. UBS Group dropped their target price on Wingstop from $330.00 to $300.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. Northcoast Research lowered shares of Wingstop from a "buy" rating to a "neutral" rating in a research note on Friday, February 21st. Guggenheim raised shares of Wingstop from a "neutral" rating to a "buy" rating and set a $280.00 target price on the stock in a research note on Monday, February 24th. Barclays lowered their target price on shares of Wingstop from $359.00 to $315.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. Finally, Stifel Nicolaus cut their price target on shares of Wingstop from $375.00 to $350.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Wingstop presently has an average rating of "Moderate Buy" and a consensus price target of $357.67.

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.