Wingstop (NASDAQ:WING) Sets New 52-Week Low - Here's What Happened

Wingstop Inc. (NASDAQ:WING - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $207.13 and last traded at $209.69, with a volume of 27903 shares trading hands. The stock had previously closed at $214.16.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WING. Morgan Stanley lowered their target price on shares of Wingstop from $389.00 to $375.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. Guggenheim upgraded shares of Wingstop from a "neutral" rating to a "buy" rating and set a $280.00 price objective on the stock in a research note on Monday, February 24th. UBS Group decreased their target price on shares of Wingstop from $330.00 to $300.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Wedbush dropped their price target on Wingstop from $390.00 to $355.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Finally, Stephens reaffirmed an "overweight" rating and set a $450.00 price objective on shares of Wingstop in a research report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $357.67.

Wingstop Trading Down 2.1 %

The stock's 50 day moving average is $262.51 and its 200 day moving average is $317.74. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 58.08, a PEG ratio of 2.27 and a beta of 1.88.

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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 paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop's payout ratio is currently 29.11%.

Wingstop declared that its board has initiated a share 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 purchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On Wingstop

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in Wingstop by 521.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator's stock valued at $25,000 after acquiring an additional 73 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its stake in shares of Wingstop by 62.5% during the 4th 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 last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Wingstop during the 4th quarter valued at about $30,000. True Wealth Design LLC purchased a new position in shares of Wingstop during the 3rd quarter worth about $36,000. Finally, V Square Quantitative Management LLC boosted its position in shares of Wingstop by 34.9% in the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator's stock worth $41,000 after acquiring an additional 37 shares during the last quarter.

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.