Daiwa Securities Group Inc. grew its position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 29.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,190 shares of the restaurant operator's stock after buying an additional 1,420 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Wingstop were worth $1,759,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Wingstop in the fourth quarter worth $115,301,000. FMR LLC lifted its position in Wingstop by 984.7% during the 3rd quarter. FMR LLC now owns 217,946 shares of the restaurant operator's stock worth $90,683,000 after buying an additional 197,853 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Wingstop by 392.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 184,068 shares of the restaurant operator's stock worth $76,587,000 after acquiring an additional 146,692 shares during the last quarter. Eagle Asset Management Inc. increased its position in Wingstop by 40.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator's stock valued at $193,630,000 after acquiring an additional 134,802 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Wingstop by 20.5% in the third quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator's stock worth $174,095,000 after acquiring an additional 71,300 shares during the last quarter.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. UBS Group lowered their price target on shares of Wingstop from $330.00 to $300.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. Barclays dropped their target price on Wingstop from $359.00 to $315.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. Stephens reaffirmed an "overweight" rating and set a $450.00 price target on shares of Wingstop in a research note on Wednesday, February 19th. Raymond James reiterated an "outperform" rating and issued a $330.00 price objective (down from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Finally, BMO Capital Markets cut their target price on shares of Wingstop from $335.00 to $300.00 and set a "market perform" 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $357.67.
Read Our Latest Stock Analysis on Wingstop
Wingstop Stock Performance
WING stock traded down $7.16 during mid-day trading on Tuesday, hitting $207.00. 736,094 shares of the company were exchanged, compared to its average volume of 530,429. The firm has a market cap of $5.93 billion, a P/E ratio of 55.80, a P/E/G ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a 1-year low of $205.62 and a 1-year high of $433.86. The firm's 50 day simple moving average is $267.64 and its 200 day simple moving average is $322.00.
Wingstop Dividend Announcement
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 paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Friday, March 7th. Wingstop's payout ratio is presently 29.11%.
Wingstop announced that its board has initiated a stock buyback plan on Thursday, December 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.
Wingstop Profile
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Free Report)
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.
Further Reading
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