King Luther Capital Management Corp Increases Stock Holdings in Wingstop Inc. (NASDAQ:WING)

King Luther Capital Management Corp increased its stake in shares of Wingstop Inc. (NASDAQ:WING) by 10.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,424 shares of the restaurant operator’s stock after purchasing an additional 1,635 shares during the period. King Luther Capital Management Corp’s holdings in Wingstop were worth $4,952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. lifted its position in shares of Wingstop by 29.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 6,190 shares of the restaurant operator’s stock valued at $1,759,000 after acquiring an additional 1,420 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Wingstop by 15.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,630 shares of the restaurant operator’s stock worth $2,168,000 after acquiring an additional 1,027 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Wingstop in the 4th quarter valued at about $16,528,000. River Global Investors LLP purchased a new position in Wingstop in the 4th quarter worth approximately $6,051,000. Finally, EFG Asset Management Americas Corp. grew its position in shares of Wingstop by 28.3% in the fourth quarter. EFG Asset Management Americas Corp. now owns 7,049 shares of the restaurant operator’s stock valued at $2,003,000 after purchasing an additional 1,556 shares in the last quarter.

Wingstop Stock Performance

Shares of NASDAQ WING opened at $219.35 on Thursday. The stock’s 50-day simple moving average is $272.47 and its 200-day simple moving average is $326.37. The firm has a market capitalization of $6.29 billion, a PE ratio of 59.12, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a fifty-two week low of $207.53 and a fifty-two week high of $433.86.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.08 dividend on an annualized basis and a yield of 0.49%. Wingstop’s payout ratio is currently 29.11%.

Wingstop declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the restaurant operator to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WING. TD Securities dropped their target price on Wingstop from $365.00 to $305.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Stephens reiterated an “overweight” rating and issued a $450.00 price objective on shares of Wingstop in a report on Wednesday, February 19th. Raymond James reiterated an “outperform” rating and set a $330.00 price target (down from $375.00) on shares of Wingstop in a report on Tuesday, January 28th. Northcoast Research cut shares of Wingstop from a “buy” rating to a “neutral” rating in a research report on Friday, February 21st. Finally, Benchmark dropped their price objective on Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $357.67.

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.