Worldquant Millennium Advisors LLC acquired a new stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 4,311 shares of the restaurant operator's stock, valued at approximately $1,794,000.
Other institutional investors have also added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new stake in Wingstop during the 2nd quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Wingstop in the second quarter valued at $34,000. True Wealth Design LLC purchased a new position in shares of Wingstop in the third quarter valued at $36,000. V Square Quantitative Management LLC grew its holdings in shares of Wingstop by 60.6% in the third quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator's stock valued at $44,000 after purchasing an additional 40 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Wingstop by 384.6% in the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator's stock valued at $53,000 after purchasing an additional 100 shares in the last quarter.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on WING. BTIG Research raised shares of Wingstop from a "neutral" rating to a "buy" rating and set a $370.00 target price for the company in a report on Thursday, October 31st. Piper Sandler lowered their price target on Wingstop from $375.00 to $300.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. TD Cowen lowered 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. Benchmark upgraded Wingstop from a "hold" rating to a "buy" rating and set a $340.00 price target for the company in a research report on Thursday, October 31st. Finally, Barclays lowered their price target on Wingstop from $470.00 to $380.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Wingstop currently has an average rating of "Moderate Buy" and a consensus price target of $368.74.
View Our Latest Stock Analysis on WING
Wingstop Stock Down 3.4 %
Shares of WING stock traded down $11.55 during mid-day trading on Monday, hitting $328.54. 461,796 shares of the stock were exchanged, compared to its average volume of 461,070. The firm has a fifty day moving average of $354.08 and a 200 day moving average of $378.71. Wingstop Inc. has a 52-week low of $240.60 and a 52-week high of $433.86. The company has a market cap of $9.60 billion, a PE ratio of 95.78, a price-to-earnings-growth ratio of 3.17 and a beta of 1.78.
Wingstop (NASDAQ:WING - Get Free Report) last posted its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.09). Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The firm had revenue of $162.50 million for the quarter, compared to analysts' expectations of $160.24 million. During the same period in the previous year, the company earned $0.69 earnings per share. The company's revenue was up 38.8% compared to the same quarter last year. Equities analysts predict that Wingstop Inc. will post 3.68 EPS for the current year.
Wingstop Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 15th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Friday, November 15th. Wingstop's dividend payout ratio is presently 31.49%.
Wingstop declared that its Board of Directors has authorized a share buyback plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.
About Wingstop
(
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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