Freestone Grove Partners LP bought a new position in Wingstop Inc. (NASDAQ:WING – Free Report) in the second quarter, HoldingsChannel.com reports. The firm bought 204,992 shares of the restaurant operator’s stock, valued at approximately $35,548,000.
Other large investors have also recently added to or reduced their stakes in the company. Man Group plc acquired a new stake in shares of Wingstop in the 2nd quarter valued at about $20,370,000. Polar Asset Management Partners Inc. bought a new stake in shares of Wingstop in the second quarter valued at about $1,699,000. Jupiter Topco LLC acquired a new position in shares of Wingstop during the second quarter worth about $147,440,000. Hsbc Holdings PLC acquired a new position in shares of Wingstop during the second quarter worth about $1,558,000. Finally, EFG International AG bought a new position in shares of Wingstop during the second quarter worth about $3,830,000.
Wingstop Stock Performance
WING opened at $112.24 on Thursday. The business’s 50-day simple moving average is $140.06 and its 200 day simple moving average is $167.97. Wingstop Inc. has a 52-week low of $110.44 and a 52-week high of $342.10. The firm has a market capitalization of $3.06 billion, a PE ratio of 26.66, a PEG ratio of 1.35 and a beta of 1.81.
Wingstop Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, September 5th. Investors of record on Saturday, August 15th will be paid a $0.33 dividend. This is a boost from Wingstop’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Wingstop’s dividend payout ratio (DPR) is 31.35%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on WING shares. Wells Fargo & Company dropped their target price on Wingstop from $170.00 to $165.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Royal Bank Of Canada reduced their price target on Wingstop from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Benchmark decreased their price target on shares of Wingstop from $285.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Bank of America lowered their price objective on shares of Wingstop from $264.00 to $234.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Finally, Piper Sandler set a $173.00 price objective on shares of Wingstop in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.81.
Read Our Latest Report on Wingstop
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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