National Bank of Canada FI Sells 17,495 Shares of Wingstop Inc. (NASDAQ:WING)

National Bank of Canada FI lowered its holdings in Wingstop Inc. (NASDAQ:WING - Free Report) by 66.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,825 shares of the restaurant operator's stock after selling 17,495 shares during the quarter. National Bank of Canada FI's holdings in Wingstop were worth $3,672,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in WING. Hollencrest Capital Management acquired a new stake in shares of Wingstop in the second quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC bought a new position in Wingstop in the 2nd quarter valued at $34,000. True Wealth Design LLC acquired a new stake in shares of Wingstop in the 3rd quarter valued at $36,000. V Square Quantitative Management LLC increased its stake in shares of Wingstop by 60.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator's stock valued at $44,000 after buying an additional 40 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Wingstop by 384.6% during 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.

Analysts Set New Price Targets

WING has been the topic of several recent research reports. TD Cowen decreased their price target on Wingstop from $450.00 to $365.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. Stephens reaffirmed an "overweight" rating and issued a $468.00 target price on shares of Wingstop in a research note on Monday. Wedbush reissued an "outperform" rating and set a $390.00 price target on shares of Wingstop in a research note on Tuesday, November 5th. Piper Sandler reduced their price objective on shares of Wingstop from $375.00 to $300.00 and set a "neutral" rating on the stock in a research note on Monday, November 4th. Finally, Northcoast Research upgraded shares of Wingstop from a "neutral" rating to a "buy" rating and set a $350.00 target price for the company in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $368.74.

Wingstop Trading Down 6.7 %

Shares of NASDAQ WING traded down $21.56 during midday trading on Friday, reaching $301.33. The company's stock had a trading volume of 925,910 shares, compared to its average volume of 461,716. Wingstop Inc. has a fifty-two week low of $240.60 and a fifty-two week high of $433.86. The stock has a 50 day simple moving average of $346.79 and a 200-day simple moving average of $377.23. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 94.14, a PEG ratio of 3.08 and a beta of 1.78.

Wingstop (NASDAQ:WING - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.09). The business had revenue of $162.50 million for the quarter, compared to the consensus estimate of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The company's quarterly revenue was up 38.8% compared to the same quarter last year. During the same period last year, the firm earned $0.69 earnings per share. As a group, equities analysts anticipate that Wingstop Inc. will post 3.67 EPS for the current year.

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 15th were given a dividend of $0.27 per share. The ex-dividend date was Friday, November 15th. This represents a $1.08 annualized dividend and a yield of 0.36%. Wingstop's dividend payout ratio (DPR) is presently 31.49%.

Wingstop announced that its Board of Directors has initiated a share repurchase program on Thursday, December 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to reacquire up to 5.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

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.