Wingstop Inc. (NASDAQ:WING) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 23.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,290 shares of the restaurant operator's stock after selling 5,104 shares during the quarter. Quantbot Technologies LP owned about 0.06% of Wingstop worth $4,630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WING. State Street Corp boosted its stake in Wingstop by 1.5% during the third quarter. State Street Corp now owns 861,783 shares of the restaurant operator's stock worth $358,571,000 after buying an additional 12,549 shares during the period. Franklin Resources Inc. grew its stake in Wingstop by 0.9% in the third quarter. Franklin Resources Inc. now owns 816,991 shares of the restaurant operator's stock worth $326,020,000 after purchasing an additional 7,204 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Wingstop by 7.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 647,677 shares of the restaurant operator's stock worth $269,485,000 after purchasing an additional 46,772 shares during the period. Eagle Asset Management Inc. increased its holdings in 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 purchasing an additional 134,802 shares during the period. Finally, Two Sigma Advisers LP raised its position in Wingstop by 20.5% during the 3rd quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator's stock valued at $174,095,000 after purchasing an additional 71,300 shares in the last quarter.

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Wingstop Stock Up 3.7 %

Shares of WING traded up $7.65 during trading hours on Wednesday, reaching $214.65. 596,205 shares of the company traded hands, compared to its average volume of 530,792. The business has a fifty day moving average price of $266.14 and a 200-day moving average price of $320.74. Wingstop Inc. has a 12-month low of $205.60 and a 12-month high of $433.86. The stock has a market capitalization of $6.15 billion, a P/E ratio of 57.86, a P/E/G ratio of 2.27 and a beta of 1.88.

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

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop's dividend payout ratio is presently 29.11%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WING. Barclays cut their price target on Wingstop from $359.00 to $315.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. Morgan Stanley reduced their price target on shares of Wingstop from $389.00 to $375.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. Raymond James reiterated an "outperform" rating and set a $330.00 price objective (down from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Stephens restated an "overweight" rating and set a $450.00 target price on shares of Wingstop in a report on Wednesday, February 19th. Finally, TD Securities dropped their target price on Wingstop from $365.00 to $305.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus 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.