Wingstop Inc. (NASDAQ:WING) Stock Holdings Increased by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,393 shares of the restaurant operator’s stock after buying an additional 2,178 shares during the period. New York State Common Retirement Fund owned about 0.28% of Wingstop worth $23,132,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in shares of Wingstop during the 3rd quarter valued at $36,000. V Square Quantitative Management LLC raised its position in shares of Wingstop by 34.9% during the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock worth $41,000 after purchasing an additional 37 shares during the period. Hollencrest Capital Management lifted its holdings in shares of Wingstop by 53.8% during the third 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. Blue Trust Inc. boosted its position in shares of Wingstop by 384.6% in the 3rd quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock valued at $53,000 after purchasing an additional 100 shares during the period. Finally, R Squared Ltd purchased a new position in Wingstop in the 4th quarter worth about $71,000.

Wingstop Stock Down 5.3 %

WING stock opened at $234.02 on Friday. The firm has a 50 day moving average of $288.89 and a two-hundred day moving average of $340.46. Wingstop Inc. has a 12 month low of $232.19 and a 12 month high of $433.86. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 63.08, a P/E/G ratio of 2.38 and a beta of 1.81.

Wingstop Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Friday, March 7th. Wingstop’s dividend payout ratio is presently 29.11%.

Wingstop announced that its Board of Directors has authorized a share buyback program on Thursday, December 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the restaurant operator to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have commented on WING shares. Piper Sandler reduced their price objective on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. BTIG Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price target for the company in a research report on Thursday, October 31st. Benchmark lowered their price objective on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating on the stock in a research report on Thursday. TD Cowen cut their target price on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, UBS Group decreased their target price on Wingstop from $330.00 to $300.00 and set a “neutral” rating for the company in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Wingstop has a consensus rating of “Moderate Buy” and a consensus price target of $367.05.

Insiders Place Their Bets

In related news, SVP Raj Kapoor sold 266 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $324.38, for a total value of $86,285.08. Following the completion of the sale, the senior vice president now directly owns 266 shares in the company, valued at approximately $86,285.08. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.36% of the company’s stock.

Wingstop 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.