Geode Capital Management LLC Lowers Stock Position in Wingstop Inc. (NASDAQ:WING)

Geode Capital Management LLC reduced its stake in Wingstop Inc. (NASDAQ:WING - Free Report) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 530,438 shares of the restaurant operator's stock after selling 2,479 shares during the period. Geode Capital Management LLC owned approximately 1.82% of Wingstop worth $150,795,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake 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 period. CBIZ Investment Advisory Services LLC boosted its position in shares of Wingstop by 62.5% in the fourth 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 period. SBI Securities Co. Ltd. purchased a new position in Wingstop during the fourth quarter valued at approximately $30,000. V Square Quantitative Management LLC grew 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 valued at $41,000 after acquiring an additional 37 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Wingstop during the 4th quarter worth approximately $71,000.

Wingstop Price Performance

Shares of WING traded down $3.00 on Friday, reaching $237.29. The company's stock had a trading volume of 465,079 shares, compared to its average volume of 573,135. The stock's 50 day simple moving average is $243.36 and its two-hundred day simple moving average is $298.34. The stock has a market capitalization of $6.62 billion, a P/E ratio of 63.96, a PEG 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.

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Wingstop Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Friday, March 7th. Wingstop's dividend payout ratio is presently 29.11%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Robert W. Baird reduced their target price on Wingstop from $375.00 to $350.00 and set an "outperform" rating on the stock in a research note on Monday, April 7th. BTIG Research reissued a "buy" rating on shares of Wingstop in a research note on Tuesday, March 25th. Wells Fargo & Company started coverage on Wingstop in a research note on Wednesday, March 26th. They issued an "overweight" rating and a $270.00 price target for the company. Morgan Stanley lowered their target price on Wingstop from $389.00 to $375.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Finally, Stifel Nicolaus reduced their target price on shares of Wingstop from $375.00 to $350.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $348.23.

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.