Wingstop Inc. (NASDAQ:WING - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $231.28 and last traded at $232.35, with a volume of 142446 shares. The stock had previously closed at $236.51.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on WING shares. Barclays reduced their price target on shares of Wingstop from $359.00 to $315.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. Raymond James reissued an "outperform" rating and issued a $330.00 price objective (down previously from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Wedbush lowered their target price on Wingstop from $390.00 to $355.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Morgan Stanley cut their price target on Wingstop from $389.00 to $375.00 and set an "overweight" rating on the stock in a report on Thursday, February 20th. Finally, TD Cowen reduced their price target on Wingstop from $450.00 to $365.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Wingstop currently has a consensus rating of "Moderate Buy" and a consensus price target of $357.67.
Check Out Our Latest Research Report on WING
Wingstop Price Performance
The stock has a market capitalization of $6.73 billion, a PE ratio of 63.28, a P/E/G ratio of 2.27 and a beta of 1.81. The company's 50 day moving average price is $283.06 and its two-hundred day moving average price is $335.79.
Wingstop Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop's dividend payout ratio is currently 29.11%.
Wingstop announced that its board has approved a stock repurchase plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the restaurant operator to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.
Insiders Place Their Bets
In other Wingstop news, SVP Raj Kapoor sold 266 shares of the firm's stock in a transaction on Thursday, December 12th. The stock was 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 directly owns 266 shares of the company's stock, valued at $86,285.08. This trade represents a 50.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.
Institutional Trading of Wingstop
Several hedge funds have recently made changes to their positions in the company. Verdence Capital Advisors LLC lifted its holdings in Wingstop by 3.9% in the fourth quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator's stock valued at $256,000 after acquiring an additional 34 shares during the last quarter. Hollencrest Capital Management lifted its stake in shares of Wingstop by 53.8% in the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator's stock valued at $42,000 after purchasing an additional 35 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Wingstop by 0.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,523 shares of the restaurant operator's stock worth $4,794,000 after purchasing an additional 35 shares during the period. CBIZ Investment Advisory Services LLC grew its holdings 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 worth $26,000 after purchasing an additional 35 shares during the period. Finally, V Square Quantitative Management LLC raised its holdings in Wingstop by 34.9% in the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator's stock valued at $41,000 after buying an additional 37 shares during the period.
Wingstop Company Profile
(
Get 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.
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