Wingstop Inc. (NASDAQ:WING) Shares Sold by Blueshift Asset Management LLC

Blueshift Asset Management LLC lessened its stake in Wingstop Inc. (NASDAQ:WING) by 88.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,016 shares of the restaurant operator’s stock after selling 15,621 shares during the period. Blueshift Asset Management LLC’s holdings in Wingstop were worth $573,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in WING. EverSource Wealth Advisors LLC increased its position in Wingstop by 521.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 73 shares during the period. CBIZ Investment Advisory Services LLC increased its position in Wingstop by 62.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 35 shares during the period. SBI Securities Co. Ltd. acquired a new position in Wingstop during the 4th quarter worth approximately $30,000. True Wealth Design LLC acquired a new position in Wingstop during the 3rd quarter worth approximately $36,000. Finally, V Square Quantitative Management LLC increased its position in Wingstop by 34.9% during the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock worth $41,000 after purchasing an additional 37 shares during the period.

Wingstop Stock Up 2.6 %

WING stock opened at $220.19 on Friday. Wingstop Inc. has a 52-week low of $205.60 and a 52-week high of $433.86. The stock’s fifty day simple moving average is $263.70 and its 200-day simple moving average is $319.30. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 59.35, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88.

Wingstop announced that its board has initiated a stock repurchase program on Thursday, December 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the restaurant operator to buy up to 5.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wingstop Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Northcoast Research cut Wingstop from a “buy” rating to a “neutral” rating in a research report on Friday, February 21st. Morgan Stanley dropped their target price on Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Benchmark dropped their target price on Wingstop from $340.00 to $325.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Raymond James restated an “outperform” rating and issued a $330.00 price target (down previously from $375.00) on shares of Wingstop in a report on Tuesday, January 28th. Finally, Barclays dropped their price objective on Wingstop from $359.00 to $315.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $357.67.

Wingstop Company Profile

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.