Wingstop (NASDAQ:WING) Hits New 12-Month Low - Here's What Happened

Shares of Wingstop Inc. (NASDAQ:WING - Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $204.00 and last traded at $205.40, with a volume of 262439 shares trading hands. The stock had previously closed at $218.84.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Northcoast Research lowered Wingstop from a "buy" rating to a "neutral" rating in a research report on Friday, February 21st. Wells Fargo & Company assumed coverage on shares of Wingstop in a research report on Wednesday, March 26th. They set an "overweight" rating and a $270.00 price target on the stock. Jefferies Financial Group raised shares of Wingstop from a "hold" rating to a "buy" rating and set a $270.00 price target for the company in a research note on Monday, March 31st. BTIG Research reaffirmed a "buy" rating on shares of Wingstop in a research report on Tuesday, March 25th. Finally, Barclays reduced 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. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $348.23.

Wingstop Price Performance

The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 56.16, a P/E/G ratio of 2.27 and a beta of 2.02. The firm's 50 day moving average price is $235.09 and its two-hundred day moving average price is $290.65.

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.08 dividend on an annualized basis and a yield of 0.52%. Wingstop's dividend payout ratio (DPR) is 29.11%.

Institutional Trading of Wingstop

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its position in Wingstop by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 3,419 shares of the restaurant operator's stock valued at $771,000 after purchasing an additional 85 shares during the period. Signature Wealth Management Group acquired a new stake in shares of Wingstop in the 1st quarter valued at approximately $1,341,000. Tritonpoint Wealth LLC boosted its stake in shares of Wingstop by 21.0% in the first quarter. Tritonpoint Wealth LLC now owns 4,910 shares of the restaurant operator's stock valued at $1,108,000 after buying an additional 851 shares in the last quarter. Fifth Third Bancorp grew its holdings in Wingstop by 119.0% during the first quarter. Fifth Third Bancorp now owns 1,964 shares of the restaurant operator's stock worth $443,000 after acquiring an additional 1,067 shares during the period. Finally, Paragon Advisors LLC raised its position in Wingstop by 16.0% in the first quarter. Paragon Advisors LLC now owns 4,624 shares of the restaurant operator's stock worth $1,043,000 after acquiring an additional 638 shares in 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.

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