Wingstop Inc. (NASDAQ:WING) Shares Sold by Wealth High Governance Capital Ltda

Wealth High Governance Capital Ltda reduced its stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 89.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,082 shares of the restaurant operator's stock after selling 26,918 shares during the period. Wealth High Governance Capital Ltda's holdings in Wingstop were worth $876,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new stake in Wingstop during the 4th quarter worth about $10,177,000. SG Americas Securities LLC grew its position in Wingstop by 277.5% during the 4th quarter. SG Americas Securities LLC now owns 4,771 shares of the restaurant operator's stock worth $1,356,000 after purchasing an additional 3,507 shares during the period. Y Intercept Hong Kong Ltd grew its position in Wingstop by 779.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 18,461 shares of the restaurant operator's stock worth $5,247,000 after purchasing an additional 16,361 shares during the period. Los Angeles Capital Management LLC grew its position in Wingstop by 475.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 69,234 shares of the restaurant operator's stock worth $19,676,000 after purchasing an additional 57,193 shares during the period. Finally, Conway Capital Management Inc. acquired a new stake in shares of Wingstop during the 3rd quarter valued at about $3,544,000.

Insider Activity at Wingstop

In related news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total value of $86,285.08. Following the completion of the sale, the senior vice president now owns 266 shares in the company, valued at approximately $86,285.08. This trade represents a 50.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.36% of the stock is owned by insiders.

Wingstop Stock Performance

Wingstop stock opened at $213.36 on Wednesday. Wingstop Inc. has a fifty-two week low of $207.53 and a fifty-two week high of $433.86. The firm has a 50 day moving average price of $273.76 and a 200 day moving average price of $327.12. The company has a market capitalization of $6.12 billion, a PE ratio of 57.51, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88.

Remove Ads

Wingstop announced that its board has authorized a stock buyback plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the restaurant operator to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

Wingstop Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.51%. Wingstop's dividend payout ratio (DPR) is presently 29.11%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on WING shares. Barclays dropped their target price on Wingstop from $359.00 to $315.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. Raymond James restated an "outperform" rating and set a $330.00 target price (down from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. BMO Capital Markets decreased their price target on shares of Wingstop from $335.00 to $300.00 and set a "market perform" rating on the stock in a research note on Thursday, February 20th. UBS Group decreased their price target on shares of Wingstop from $330.00 to $300.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. Finally, Guggenheim raised shares of Wingstop from a "neutral" rating to a "buy" rating and set a $280.00 price target on the stock in a research note on Monday, February 24th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Wingstop presently has an average rating of "Moderate Buy" and an average target price of $357.67.

Wingstop Company 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.

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