Proficio Capital Partners LLC Makes New Investment in Wingstop Inc. (NASDAQ:WING)

Proficio Capital Partners LLC purchased a new position in shares of Wingstop Inc. (NASDAQ:WING) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 35,809 shares of the restaurant operator’s stock, valued at approximately $10,177,000. Proficio Capital Partners LLC owned about 0.12% of Wingstop as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of WING. SBI Securities Co. Ltd. acquired a new stake in shares of Wingstop in the 4th quarter valued at approximately $30,000. True Wealth Design LLC acquired a new stake in shares of Wingstop in the 3rd quarter valued at approximately $36,000. V Square Quantitative Management LLC boosted its holdings in shares of Wingstop by 34.9% in the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock valued at $41,000 after buying an additional 37 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Wingstop in the 4th quarter valued at approximately $71,000. Finally, Blue Trust Inc. boosted its holdings in shares of Wingstop by 103.2% in the 4th quarter. Blue Trust Inc. now owns 256 shares of the restaurant operator’s stock valued at $73,000 after buying an additional 130 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently commented on WING shares. Benchmark cut their price objective on 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 price objective on Wingstop from $365.00 to $305.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Guggenheim upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price target on the stock in a research note on Monday, February 24th. Northcoast Research cut Wingstop from a “buy” rating to a “neutral” rating in a research note on Friday, February 21st. Finally, Morgan Stanley dropped their price target on Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Wingstop has an average rating of “Moderate Buy” and a consensus target price of $357.67.

Wingstop Stock Performance

Shares of NASDAQ WING opened at $213.20 on Friday. The stock’s fifty day moving average is $269.17 and its 200 day moving average is $323.66. The stock has a market capitalization of $6.11 billion, a P/E ratio of 57.47, a PEG ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a 52 week low of $207.53 and a 52 week high of $433.86.

Wingstop Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop’s dividend payout ratio (DPR) is presently 29.11%.

Wingstop announced that its board has authorized a stock repurchase plan on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to purchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

About Wingstop

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.