Echo Street Capital Management LLC bought a new stake in Wingstop Inc. (NASDAQ:WING – Get Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,833 shares of the restaurant operator’s stock, valued at approximately $1,271,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in Wingstop by 100.1% in the first quarter. Nisa Investment Advisors LLC now owns 9,125 shares of the restaurant operator’s stock valued at $1,071,000 after buying an additional 4,565 shares during the period. AlphaCrest Capital Management LLC raised its position in shares of Wingstop by 57.0% during the fourth quarter. AlphaCrest Capital Management LLC now owns 2,775 shares of the restaurant operator’s stock worth $480,000 after purchasing an additional 1,008 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Wingstop by 2.0% during the first quarter. Mutual of America Capital Management LLC now owns 27,201 shares of the restaurant operator’s stock worth $3,192,000 after purchasing an additional 526 shares during the period. CNA Financial Corp raised its position in shares of Wingstop by 4.8% during the fourth quarter. CNA Financial Corp now owns 8,650 shares of the restaurant operator’s stock worth $1,495,000 after purchasing an additional 400 shares during the period. Finally, Comerica Bank raised its position in shares of Wingstop by 2.3% during the first quarter. Comerica Bank now owns 14,648 shares of the restaurant operator’s stock worth $1,546,000 after purchasing an additional 323 shares during the period.
Wingstop Stock Up 0.3 %
WING stock opened at $145.79 on Monday. The business has a 50 day moving average price of $115.64 and a two-hundred day moving average price of $103.95. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 108.80, a P/E/G ratio of 8.46 and a beta of 1.71. Wingstop Inc. has a twelve month low of $67.67 and a twelve month high of $187.35.
Wingstop Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 12th were paid a dividend of $0.19 per share. This is an increase from Wingstop’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Thursday, August 11th. Wingstop’s payout ratio is currently 56.72%.
Analysts Set New Price Targets
A number of research firms have recently commented on WING. Stifel Nicolaus lowered Wingstop from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, July 29th. Cowen raised their price target on Wingstop from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. Citigroup raised their price target on Wingstop from $118.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Barclays increased their price objective on Wingstop from $101.00 to $144.00 in a report on Friday, July 29th. Finally, BTIG Research increased their price objective on Wingstop from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Wingstop has a consensus rating of “Moderate Buy” and an average price target of $138.35.
Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. As of December 25, 2021, the company had 1,695 franchised restaurants and 36 company-owned restaurants in 44 states and 7 countries worldwide.
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