KBC Group NV Buys 431 Shares of Wingstop Inc. (NASDAQ:WING)

KBC Group NV grew its position in Wingstop Inc. (NASDAQ:WING) by 56.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,188 shares of the restaurant operator’s stock after purchasing an additional 431 shares during the quarter. KBC Group NV’s holdings in Wingstop were worth $338,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Wingstop by 984.7% in the 3rd quarter. FMR LLC now owns 217,946 shares of the restaurant operator’s stock valued at $90,683,000 after purchasing an additional 197,853 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Wingstop by 392.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 184,068 shares of the restaurant operator’s stock valued at $76,587,000 after buying an additional 146,692 shares in the last quarter. Eagle Asset Management Inc. grew its stake in Wingstop by 40.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock valued at $193,630,000 after acquiring an additional 134,802 shares during the period. Two Sigma Advisers LP increased its holdings in Wingstop by 20.5% in the 3rd quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator’s stock worth $174,095,000 after acquiring an additional 71,300 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in Wingstop by 41,244.9% during the third quarter. International Assets Investment Management LLC now owns 65,325 shares of the restaurant operator’s stock worth $27,180,000 after acquiring an additional 65,167 shares during the period.

Wingstop Stock Up 1.9 %

NASDAQ WING opened at $303.67 on Tuesday. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 88.53, a price-to-earnings-growth ratio of 2.66 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’s fifty day moving average is $298.82 and its 200 day moving average is $347.56.

Wingstop announced that its Board of Directors 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 reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, SVP Raj Kapoor sold 266 shares of the business’s stock in a transaction that occurred on 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 owns 266 shares of the company’s stock, valued at $86,285.08. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WING shares. TD Cowen lowered their price target on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Northcoast Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 target price for the company in a report on Friday, November 1st. Benchmark upgraded 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. Stephens reissued an “overweight” rating and issued a $468.00 price objective on shares of Wingstop in a report on Thursday, January 2nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $390.00 target price on shares of Wingstop in a research note on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Wingstop presently has a consensus rating of “Moderate Buy” and an average target price of $383.32.

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.