State of New Jersey Common Pension Fund D Decreases Stock Holdings in Wingstop Inc. (NASDAQ:WING)

State of New Jersey Common Pension Fund D lessened its holdings in Wingstop Inc. (NASDAQ:WING) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,280 shares of the restaurant operator’s stock after selling 122 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Wingstop were worth $4,693,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fulton Bank N.A. increased its holdings in Wingstop by 5.0% in the 3rd quarter. Fulton Bank N.A. now owns 547 shares of the restaurant operator’s stock valued at $228,000 after purchasing an additional 26 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Wingstop by 3.7% during the second quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock worth $347,000 after purchasing an additional 29 shares in the last quarter. Dark Forest Capital Management LP boosted its position in shares of Wingstop by 4.3% in the second quarter. Dark Forest Capital Management LP now owns 752 shares of the restaurant operator’s stock worth $318,000 after buying an additional 31 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of Wingstop by 60.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after buying an additional 35 shares in the last quarter. Finally, Hollencrest Capital Management raised its holdings in shares of Wingstop by 53.8% during the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock valued at $42,000 after buying an additional 35 shares during the period.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Piper Sandler decreased their price target on Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Benchmark upgraded shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 target price for the company in a research note on Thursday, October 31st. Wedbush reaffirmed an “outperform” rating and set a $390.00 price target on shares of Wingstop in a research note on Tuesday, November 5th. Raymond James raised shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Thursday, August 1st. Finally, BMO Capital Markets lifted their target price on Wingstop from $345.00 to $360.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Wingstop currently has an average rating of “Moderate Buy” and a consensus target price of $368.74.

Wingstop Trading Down 1.5 %

WING stock opened at $338.38 on Wednesday. The stock’s 50 day simple moving average is $378.99 and its 200 day simple moving average is $385.60. Wingstop Inc. has a 12-month low of $210.94 and a 12-month high of $433.86. The firm has a market cap of $9.88 billion, a P/E ratio of 98.65, a P/E/G ratio of 3.17 and a beta of 1.76.

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

Wingstop Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a yield of 0.32%. Wingstop’s dividend payout ratio is currently 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.