Wingstop (NASDAQ:WING) Stock Price Up 3.7% - Here's Why

Wingstop Inc. (NASDAQ:WING - Get Free Report)'s share price rose 3.7% on Thursday . The stock traded as high as $243.30 and last traded at $244.70. Approximately 1,105,900 shares traded hands during mid-day trading, an increase of 99% from the average daily volume of 555,104 shares. The stock had previously closed at $235.96.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. UBS Group dropped their price objective on shares of Wingstop from $330.00 to $300.00 and set a "neutral" rating on the stock in a report 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 note on Thursday, February 20th. Wells Fargo & Company assumed coverage on Wingstop in a research report on Wednesday, March 26th. They set an "overweight" rating and a $270.00 price objective for the company. BMO Capital Markets dropped their target price on Wingstop from $335.00 to $300.00 and set a "market perform" rating on the stock in a research report on Thursday, February 20th. Finally, Raymond James restated an "outperform" rating and issued a $330.00 target price (down previously from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $348.23.

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Wingstop Stock Performance

The business has a fifty day moving average of $251.37 and a two-hundred day moving average of $304.54. The firm has a market capitalization of $6.40 billion, a price-to-earnings ratio of 62.13, a price-to-earnings-growth ratio of 2.27 and a beta of 2.02.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Friday, March 7th. Wingstop's payout ratio is presently 29.11%.

Institutional Trading of Wingstop

Several hedge funds and other institutional investors have recently modified their holdings of WING. EverSource Wealth Advisors LLC lifted its position in Wingstop by 521.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator's stock worth $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 fourth 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. MassMutual Private Wealth & Trust FSB lifted its holdings in Wingstop by 93.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator's stock worth $29,000 after purchasing an additional 62 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Wingstop in the 4th quarter valued at $30,000. Finally, True Wealth Design LLC grew its holdings in Wingstop by 62.1% in the 4th quarter. True Wealth Design LLC now owns 141 shares of the restaurant operator's stock valued at $40,000 after buying an additional 54 shares in the last quarter.

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.