Farther Finance Advisors LLC Buys 245 Shares of Wingstop Inc. (NASDAQ:WING)

Farther Finance Advisors LLC raised its position in shares of Wingstop Inc. (NASDAQ:WING) by 942.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 271 shares of the restaurant operator’s stock after acquiring an additional 245 shares during the period. Farther Finance Advisors LLC’s holdings in Wingstop were worth $113,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Stephens Inc. AR grew its position in Wingstop by 3.9% during the third quarter. Stephens Inc. AR now owns 1,873 shares of the restaurant operator’s stock worth $779,000 after buying an additional 71 shares in the last quarter. S.A. Mason LLC acquired a new stake in shares of Wingstop in the third quarter valued at $125,000. WD Rutherford LLC acquired a new stake in Wingstop in the 3rd quarter valued at about $240,000. Pallas Capital Advisors LLC increased its holdings in shares of Wingstop by 33.4% in the third quarter. Pallas Capital Advisors LLC now owns 1,679 shares of the restaurant operator’s stock valued at $699,000 after purchasing an additional 420 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Wingstop by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 3,419 shares of the restaurant operator’s stock worth $1,422,000 after acquiring an additional 230 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WING shares. TD Cowen dropped their price target on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Piper Sandler reduced their price objective on Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Morgan Stanley raised their target price on shares of Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 16th. Raymond James raised Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research report on Thursday, August 1st. Finally, Truist Financial upped their target price on shares of Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $368.74.

Wingstop Price Performance

Wingstop stock opened at $343.51 on Tuesday. The firm has a market cap of $10.03 billion, a PE ratio of 100.15, a price-to-earnings-growth ratio of 3.17 and a beta of 1.76. The stock’s fifty day moving average price is $379.68 and its two-hundred day moving average price is $385.91. Wingstop Inc. has a one year low of $210.94 and a one year high of $433.86.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). The company had revenue of $162.50 million during the quarter, compared to analyst estimates of $160.24 million. Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The firm’s revenue for the quarter was up 38.8% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS. Sell-side analysts expect that Wingstop Inc. will post 3.68 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.08 annualized dividend and a dividend yield of 0.31%. Wingstop’s dividend payout ratio is 31.49%.

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.