Sumitomo Mitsui Trust Group Inc. Acquires 400 Shares of Wingstop Inc. (NASDAQ:WING)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 14.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,170 shares of the restaurant operator’s stock after buying an additional 400 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Wingstop were worth $901,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Hollencrest Capital Management boosted its position in Wingstop by 53.8% during the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock valued at $42,000 after acquiring an additional 35 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Wingstop by 0.3% in 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 in the last quarter. V Square Quantitative Management LLC boosted its position in shares of Wingstop by 60.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after purchasing an additional 40 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Wingstop by 7.8% in the 3rd quarter. Tidal Investments LLC now owns 758 shares of the restaurant operator’s stock worth $315,000 after purchasing an additional 55 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its position in shares of Wingstop by 9.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 686 shares of the restaurant operator’s stock worth $285,000 after purchasing an additional 57 shares in the last quarter.

Wingstop Stock Down 2.3 %

Shares of Wingstop stock opened at $304.69 on Friday. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 88.83, a PEG ratio of 2.76 and a beta of 1.81. Wingstop Inc. has a twelve month low of $266.45 and a twelve month high of $433.86. The business has a 50-day moving average price of $293.97 and a 200-day moving average price of $343.80.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on WING. The Goldman Sachs Group raised Wingstop from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $458.00 to $377.00 in a research report on Friday, November 8th. Morgan Stanley raised Wingstop from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $385.00 to $389.00 in a report on Tuesday, January 21st. Benchmark raised Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price target on the stock in a report on Thursday, October 31st. BTIG Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 target price on the stock in a report on Thursday, October 31st. Finally, Barclays decreased their target price on Wingstop from $470.00 to $380.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Wingstop currently has an average rating of “Moderate Buy” and an average target price of $385.72.

Insider Buying and Selling

In related news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction dated 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 transaction, the senior vice president now owns 266 shares in the company, valued at approximately $86,285.08. This trade represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.36% of the stock is currently owned by company insiders.

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.