TD Securities Cuts Wingstop (NASDAQ:WING) Price Target to $305.00

Wingstop (NASDAQ:WING) had its price target lowered by TD Securities from $365.00 to $305.00 in a report published on Thursday,Benzinga reports. TD Securities currently has a buy rating on the restaurant operator’s stock.

WING has been the topic of a number of other reports. BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 target price on the stock in a research report on Thursday, October 31st. TD Cowen dropped their target price on Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Raymond James restated an “outperform” rating and set a $330.00 target price (down from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Northcoast Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 target price on the stock in a research report on Friday, November 1st. Finally, The Goldman Sachs Group raised shares of Wingstop from a “neutral” rating to a “buy” rating and decreased their price target for the company from $458.00 to $377.00 in a research note on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Wingstop presently has a consensus rating of “Moderate Buy” and an average price target of $367.05.

Wingstop Stock Performance

Shares of WING opened at $247.09 on Thursday. Wingstop has a fifty-two week low of $242.58 and a fifty-two week high of $433.86. The company has a market capitalization of $7.22 billion, a P/E ratio of 72.04, a P/E/G ratio of 2.75 and a beta of 1.81. The business’s 50-day moving average is $290.24 and its two-hundred day moving average is $341.28.

Wingstop Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop’s dividend payout ratio (DPR) is 31.49%.

Wingstop declared that its board has authorized a share buyback program on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to purchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total transaction of $86,285.08. Following the sale, the senior vice president now owns 266 shares of the company’s stock, valued at approximately $86,285.08. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.36% of the company’s stock.

Institutional Trading of Wingstop

Institutional investors have recently made changes to their positions in the company. True Wealth Design LLC purchased a new stake in shares of Wingstop during the 3rd quarter valued at approximately $36,000. EverSource Wealth Advisors LLC increased its holdings in Wingstop by 521.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 73 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in Wingstop by 62.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock valued at $26,000 after purchasing an additional 35 shares during the last quarter. Hollencrest Capital Management increased its holdings in Wingstop by 53.8% in the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 35 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Wingstop in the 4th quarter valued at approximately $30,000.

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.