Wingstop Inc. (NASDAQ:WING) Shares Purchased by Fmr LLC

Fmr LLC raised its stake in Wingstop Inc. (NASDAQ:WING) by 984.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 217,946 shares of the restaurant operator’s stock after purchasing an additional 197,853 shares during the period. Fmr LLC owned 0.75% of Wingstop worth $90,683,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WING. Cetera Advisors LLC acquired a new stake in shares of Wingstop in the 1st quarter valued at about $307,000. GAMMA Investing LLC grew its position in shares of Wingstop by 136.5% during the second quarter. GAMMA Investing LLC now owns 272 shares of the restaurant operator’s stock worth $115,000 after acquiring an additional 157 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of Wingstop by 11.8% in the 2nd quarter. Park Avenue Securities LLC now owns 2,978 shares of the restaurant operator’s stock valued at $1,259,000 after acquiring an additional 315 shares during the period. CWM LLC raised its position in Wingstop by 206.6% in the 2nd quarter. CWM LLC now owns 2,287 shares of the restaurant operator’s stock valued at $967,000 after purchasing an additional 1,541 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Wingstop by 177.0% during the 2nd quarter. SG Americas Securities LLC now owns 4,917 shares of the restaurant operator’s stock worth $2,078,000 after purchasing an additional 3,142 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WING shares. Northcoast Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 target price for the company in a research note on Friday, November 1st. TD Cowen lowered their target price on Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Citigroup boosted their target price on Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Barclays decreased their price target on Wingstop from $470.00 to $380.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Piper Sandler dropped their price objective on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $368.74.

Wingstop Stock Performance

WING opened at $337.30 on Friday. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 98.34, a PEG ratio of 3.05 and a beta of 1.78. Wingstop Inc. has a one year low of $240.60 and a one year high of $433.86. The business’s fifty day moving average is $355.51 and its two-hundred day moving average is $379.02.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.09). The business had revenue of $162.50 million during the quarter, compared to analysts’ expectations of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. Wingstop’s quarterly revenue was up 38.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share. On average, analysts predict that Wingstop Inc. will post 3.68 EPS for the current fiscal year.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.32%. Wingstop’s dividend payout ratio (DPR) is 31.49%.

Wingstop announced that its board has initiated a stock buyback program on Thursday, December 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the restaurant operator to purchase up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wingstop 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.