Wells Fargo & Company MN Sells 5,617 Shares of Wingstop Inc. (NASDAQ:WING)

Wells Fargo & Company MN trimmed its stake in shares of Wingstop Inc. (NASDAQ:WING) by 12.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,576 shares of the restaurant operator’s stock after selling 5,617 shares during the quarter. Wells Fargo & Company MN owned about 0.14% of Wingstop worth $11,248,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. MML Investors Services LLC increased its position in Wingstop by 22.8% during the third quarter. MML Investors Services LLC now owns 2,529 shares of the restaurant operator’s stock worth $1,052,000 after acquiring an additional 470 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Wingstop by 17.7% in the third quarter. Sanctuary Advisors LLC now owns 1,490 shares of the restaurant operator’s stock valued at $620,000 after buying an additional 224 shares during the period. Tidal Investments LLC lifted its holdings in shares of Wingstop by 7.8% during the third quarter. Tidal Investments LLC now owns 758 shares of the restaurant operator’s stock worth $315,000 after purchasing an additional 55 shares during the period. Franklin Resources Inc. increased its stake in shares of Wingstop by 0.9% in the third quarter. Franklin Resources Inc. now owns 816,991 shares of the restaurant operator’s stock valued at $326,020,000 after buying an additional 7,204 shares during the period. Finally, Everence Capital Management Inc. bought a new position in Wingstop during the 4th quarter worth approximately $259,000.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WING shares. Barclays lowered their target price on Wingstop from $359.00 to $315.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Benchmark reduced their price objective on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Guggenheim upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price target for the company in a research note on Monday, February 24th. UBS Group reduced their target price on shares of Wingstop from $330.00 to $300.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Finally, BMO Capital Markets decreased their price target on Wingstop from $335.00 to $300.00 and set a “market perform” rating on the stock in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Wingstop presently has an average rating of “Moderate Buy” and a consensus price target of $348.23.

Wingstop Stock Down 3.6 %

Shares of NASDAQ WING opened at $224.66 on Wednesday. The firm’s fifty day moving average is $240.25 and its 200 day moving average is $295.70. Wingstop Inc. has a 52 week low of $205.60 and a 52 week high of $433.86. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 60.56, a PEG ratio of 2.27 and a beta of 2.02.

Wingstop Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.48%. Wingstop’s dividend payout ratio is currently 29.11%.

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.