SG Americas Securities LLC reduced its position in Wingstop Inc. (NASDAQ:WING – Free Report) by 91.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,439 shares of the restaurant operator’s stock after selling 37,910 shares during the period. SG Americas Securities LLC’s holdings in Wingstop were worth $533,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in WING. Baird Financial Group Inc. bought a new position in Wingstop in the first quarter valued at about $256,000. Jones Financial Companies Lllp raised its holdings in Wingstop by 2,770.6% during the 1st quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator’s stock worth $440,000 after purchasing an additional 1,884 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Wingstop by 5.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,439 shares of the restaurant operator’s stock valued at $20,852,000 after purchasing an additional 4,937 shares during the period. Geneos Wealth Management Inc. lifted its position in Wingstop by 121.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after purchasing an additional 119 shares during the period. Finally, Sivia Capital Partners LLC boosted its stake in shares of Wingstop by 45.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,387 shares of the restaurant operator’s stock valued at $467,000 after purchasing an additional 434 shares during the last quarter.
Wingstop Stock Down 0.2%
NASDAQ WING opened at $170.21 on Wednesday. The firm’s 50 day moving average is $151.30 and its 200-day moving average is $202.04. The company has a market capitalization of $4.63 billion, a PE ratio of 42.34, a price-to-earnings-growth ratio of 2.05 and a beta of 1.79. Wingstop Inc. has a 12-month low of $116.35 and a 12-month high of $381.45.
Wingstop Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, May 15th. Wingstop’s dividend payout ratio is presently 29.85%.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on WING. Guggenheim dropped their price target on shares of Wingstop from $255.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $255.00 price objective on shares of Wingstop in a research note on Thursday, April 30th. Stifel Nicolaus reduced their target price on Wingstop from $325.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Weiss Ratings cut Wingstop from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, Piper Sandler upgraded shares of Wingstop from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $283.00 to $190.00 in a report on Thursday, April 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Wingstop has a consensus rating of “Moderate Buy” and an average price target of $260.89.
Read Our Latest Research Report on WING
About Wingstop
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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