Zevenbergen Capital Investments LLC grew its position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 173,650 shares of the restaurant operator's stock after purchasing an additional 6,177 shares during the period. Wingstop makes up about 1.0% of Zevenbergen Capital Investments LLC's investment portfolio, making the stock its 26th largest position. Zevenbergen Capital Investments LLC owned approximately 0.59% of Wingstop worth $49,351,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in WING. True Wealth Design LLC acquired a new position in Wingstop in the 3rd quarter worth $36,000. EverSource Wealth Advisors LLC lifted its stake in shares of Wingstop by 521.4% in 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 in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in shares of Wingstop by 62.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator's stock worth $26,000 after acquiring an additional 35 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Wingstop in the fourth quarter valued at about $30,000. Finally, V Square Quantitative Management LLC grew its stake in Wingstop by 34.9% during the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator's stock valued at $41,000 after purchasing an additional 37 shares in the last quarter.
Wall Street Analysts Forecast Growth
WING has been the subject of several research analyst reports. Wedbush reduced their target price on Wingstop from $390.00 to $355.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. BMO Capital Markets reduced their price objective on shares of Wingstop from $335.00 to $300.00 and set a "market perform" rating on the stock in a research note on Thursday, February 20th. Benchmark decreased their price objective on shares of Wingstop from $340.00 to $325.00 and set a "buy" rating for the company in a report on Thursday, February 20th. TD Securities cut their target price on shares of Wingstop from $365.00 to $305.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Finally, Barclays decreased their price target on Wingstop from $359.00 to $315.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $357.67.
Check Out Our Latest Research Report on WING
Wingstop Stock Performance
Shares of WING traded down $2.54 during midday trading on Tuesday, hitting $220.08. 530,832 shares of the stock traded hands, compared to its average volume of 535,802. The business's 50 day moving average price is $260.38 and its two-hundred day moving average price is $315.24. The firm has a market capitalization of $6.31 billion, a PE ratio of 59.32, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a 1-year low of $205.60 and a 1-year high of $433.86.
Wingstop declared that its Board of Directors has initiated a stock buyback program on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the restaurant operator to repurchase up to 5.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.
Wingstop Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.27 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 0.49%. Wingstop's payout ratio is currently 29.11%.
About Wingstop
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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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