Nomura Asset Management Co. Ltd. cut its stake in shares of Wingstop Inc. (NASDAQ:WING – Free Report) by 32.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,838 shares of the restaurant operator’s stock after selling 5,308 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Wingstop were worth $2,585,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in WING. Lone Pine Capital LLC bought a new stake in Wingstop during the third quarter worth $375,317,000. Steadfast Capital Management LP lifted its stake in Wingstop by 296.2% during the third quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator’s stock worth $239,227,000 after purchasing an additional 710,621 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Wingstop by 48.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,405,894 shares of the restaurant operator’s stock worth $335,292,000 after purchasing an additional 456,861 shares during the last quarter. Capital World Investors lifted its stake in Wingstop by 160.6% during the third quarter. Capital World Investors now owns 740,896 shares of the restaurant operator’s stock worth $186,469,000 after purchasing an additional 456,637 shares during the last quarter. Finally, Wasatch Advisors LP bought a new stake in Wingstop during the second quarter worth $114,758,000.
Wingstop Trading Up 0.3%
Shares of Wingstop stock opened at $144.48 on Friday. The business has a 50-day moving average price of $157.44 and a two-hundred day moving average price of $216.35. Wingstop Inc. has a 1-year low of $116.35 and a 1-year high of $388.14. The company has a market cap of $3.93 billion, a P/E ratio of 35.94, a PEG ratio of 1.61 and a beta of 1.82.
Wingstop Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be paid a $0.30 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.8%. Wingstop’s dividend payout ratio (DPR) is currently 29.85%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on WING. Barclays dropped their price target on Wingstop from $330.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Stephens reiterated an “overweight” rating and issued a $225.00 price target on shares of Wingstop in a research note on Thursday. Stifel Nicolaus dropped their price target on Wingstop from $325.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Royal Bank Of Canada dropped their price target on Wingstop from $275.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, April 30th. Finally, Piper Sandler upgraded Wingstop from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $283.00 to $190.00 in a research note on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $277.68.
Read Our Latest Analysis on Wingstop
Wingstop Company Profile
Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.
The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.
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