Park Avenue Securities LLC Has $1.05 Million Holdings in Wingstop Inc. (NASDAQ:WING)

Park Avenue Securities LLC lifted its stake in shares of Wingstop Inc. (NASDAQ:WING) by 28.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,709 shares of the restaurant operator’s stock after purchasing an additional 830 shares during the period. Park Avenue Securities LLC’s holdings in Wingstop were worth $1,054,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. True Wealth Design LLC bought a new stake in Wingstop during the 3rd quarter worth about $36,000. Hollencrest Capital Management grew its position in shares of Wingstop by 53.8% during the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock worth $42,000 after buying an additional 35 shares during the period. V Square Quantitative Management LLC raised its stake in shares of Wingstop by 60.6% during the third quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after buying an additional 40 shares during the last quarter. Blue Trust Inc. lifted its holdings in 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 buying an additional 100 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in Wingstop by 942.3% in the third quarter. Farther Finance Advisors LLC now owns 271 shares of the restaurant operator’s stock valued at $113,000 after acquiring an additional 245 shares during the last quarter.

Wingstop Stock Performance

Shares of Wingstop stock opened at $272.92 on Tuesday. The firm has a market cap of $7.97 billion, a PE ratio of 79.57, a P/E/G ratio of 2.14 and a beta of 1.81. The business’s 50 day simple moving average is $306.85 and its 200 day simple moving average is $354.15. Wingstop Inc. has a 52-week low of $266.45 and a 52-week high of $433.86.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The business had revenue of $162.50 million during the quarter, compared to analyst estimates of $160.24 million. During the same quarter last year, the business earned $0.69 earnings per share. Wingstop’s revenue for the quarter was up 38.8% on a year-over-year basis. As a group, equities research analysts predict that Wingstop Inc. will post 3.67 EPS for the current year.

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

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a yield of 0.40%. Wingstop’s dividend payout ratio is 31.49%.

Insiders Place Their Bets

In other news, SVP Raj Kapoor sold 266 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $324.38, for a total value of $86,285.08. Following the sale, the senior vice president now directly owns 266 shares of the company’s stock, valued at approximately $86,285.08. This represents a 50.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Benchmark raised Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price target on the stock in a research note on Thursday, October 31st. The Goldman Sachs Group upgraded Wingstop from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $458.00 to $377.00 in a report on Friday, November 8th. Citigroup upped their price target on Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Barclays reduced their price objective on shares of Wingstop from $470.00 to $380.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Piper Sandler lowered their target price on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $368.74.

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.