Russell Investments Group Ltd. grew its stake in Wingstop Inc. (NASDAQ:WING – Free Report) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,577 shares of the restaurant operator’s stock after acquiring an additional 701 shares during the quarter. Russell Investments Group Ltd. owned 0.35% of Wingstop worth $19,382,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Amalgamated Bank increased its position in Wingstop by 1.7% during the fourth quarter. Amalgamated Bank now owns 21,154 shares of the restaurant operator’s stock valued at $2,911,000 after acquiring an additional 358 shares during the last quarter. SG Americas Securities LLC boosted its stake in Wingstop by 111.5% during the first quarter. SG Americas Securities LLC now owns 27,868 shares of the restaurant operator’s stock valued at $5,116,000 after buying an additional 14,689 shares during the last quarter. New Mexico Educational Retirement Board lifted its stake in shares of Wingstop by 14.9% in the 1st quarter. New Mexico Educational Retirement Board now owns 5,400 shares of the restaurant operator’s stock valued at $991,000 after purchasing an additional 700 shares during the last quarter. Strs Ohio raised its holdings in shares of Wingstop by 8.1% in the first quarter. Strs Ohio now owns 41,200 shares of the restaurant operator’s stock worth $7,563,000 after buying an additional 3,100 shares during the period. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Wingstop in the fourth quarter worth approximately $229,000.
Wingstop Trading Up 0.9 %
Wingstop stock opened at $164.09 on Tuesday. The firm has a market capitalization of $4.92 billion, a P/E ratio of 78.14, a P/E/G ratio of 3.75 and a beta of 1.56. The stock’s fifty day simple moving average is $184.52 and its 200-day simple moving average is $184.24. Wingstop Inc. has a twelve month low of $108.34 and a twelve month high of $223.77.
Wingstop Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 18th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.54%. This is an increase from Wingstop’s previous quarterly dividend of $0.19. Wingstop’s dividend payout ratio (DPR) is presently 36.19%.
Analysts Set New Price Targets
WING has been the topic of several recent analyst reports. UBS Group reduced their price target on Wingstop from $225.00 to $190.00 in a report on Thursday, August 3rd. Barclays reduced their price objective on Wingstop from $240.00 to $220.00 and set an “overweight” rating on the stock in a report on Thursday, August 3rd. Wedbush reduced their price objective on Wingstop from $185.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday, August 3rd. Guggenheim started coverage on Wingstop in a report on Thursday, June 29th. They set a “neutral” rating on the stock. They noted that the move was a valuation call. Finally, Northcoast Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $229.00 price objective on the stock in a report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $193.45.
Read Our Latest Analysis on WING
Wingstop Profile
Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. Wingstop Inc was founded in 1994 and is headquartered in Addison, Texas.
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