Donnie Upshaw Sells 91 Shares of Wingstop Inc. (NASDAQ:WING) Stock

Wingstop Inc. (NASDAQ:WING) SVP Donnie Upshaw sold 91 shares of the company’s stock in a transaction dated Sunday, March 2nd. The stock was sold at an average price of $234.78, for a total value of $21,364.98. Following the completion of the transaction, the senior vice president now owns 7,903 shares of the company’s stock, valued at $1,855,466.34. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Wingstop Stock Up 2.3 %

Shares of WING stock opened at $229.51 on Wednesday. The stock has a fifty day moving average of $281.73 and a 200 day moving average of $334.06. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 61.86, a PEG ratio of 2.27 and a beta of 1.81. Wingstop Inc. has a 52 week low of $218.23 and a 52 week high of $433.86.

Wingstop declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to reacquire up to 5.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wingstop Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop’s payout ratio is 29.11%.

Wall Street Analysts Forecast Growth

WING has been the subject of several research reports. Benchmark cut their target price on Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. The Goldman Sachs Group raised shares of Wingstop from a “neutral” rating to a “buy” rating and cut their price objective for the company from $458.00 to $377.00 in a research note on Friday, November 8th. Wedbush decreased their target price on shares of Wingstop from $390.00 to $355.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Morgan Stanley cut their price target on shares of Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Finally, Raymond James reaffirmed an “outperform” rating and set a $330.00 price objective (down from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $357.67.

Hedge Funds Weigh In On Wingstop

A number of institutional investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC purchased a new position in shares of Wingstop during the 4th quarter worth approximately $10,177,000. SG Americas Securities LLC boosted its position in shares of Wingstop by 277.5% during the fourth quarter. SG Americas Securities LLC now owns 4,771 shares of the restaurant operator’s stock valued at $1,356,000 after purchasing an additional 3,507 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in Wingstop by 779.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 18,461 shares of the restaurant operator’s stock worth $5,247,000 after purchasing an additional 16,361 shares during the period. Los Angeles Capital Management LLC raised its holdings in Wingstop by 475.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 69,234 shares of the restaurant operator’s stock worth $19,676,000 after purchasing an additional 57,193 shares in the last quarter. Finally, Conway Capital Management Inc. purchased a new position in Wingstop during the third quarter valued at $3,544,000.

About Wingstop

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.