Bridgewater Associates LP Cuts Stock Position in Wingstop Inc. (NASDAQ:WING)

Bridgewater Associates LP decreased its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 60.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,344 shares of the restaurant operator’s stock after selling 15,837 shares during the period. Bridgewater Associates LP’s holdings in Wingstop were worth $2,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in Wingstop during the fourth quarter valued at $10,177,000. SG Americas Securities LLC lifted its stake in Wingstop by 277.5% in the 4th quarter. SG Americas Securities LLC now owns 4,771 shares of the restaurant operator’s stock valued at $1,356,000 after buying an additional 3,507 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in Wingstop by 779.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 18,461 shares of the restaurant operator’s stock worth $5,247,000 after buying an additional 16,361 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in Wingstop by 475.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 69,234 shares of the restaurant operator’s stock worth $19,676,000 after buying an additional 57,193 shares in the last quarter. Finally, Versor Investments LP raised its holdings in shares of Wingstop by 149.0% during the fourth quarter. Versor Investments LP now owns 5,309 shares of the restaurant operator’s stock valued at $1,509,000 after acquiring an additional 3,177 shares during the last quarter.

Wall Street Analyst Weigh In

WING has been the subject of several research reports. Wedbush dropped their price target on Wingstop from $390.00 to $355.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. UBS Group reduced their target price on shares of Wingstop from $330.00 to $300.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. BMO Capital Markets lowered their price target on shares of Wingstop from $335.00 to $300.00 and set a “market perform” rating on the stock in a research report on Thursday, February 20th. Stifel Nicolaus cut their price objective on shares of Wingstop from $375.00 to $350.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Wells Fargo & Company initiated coverage on Wingstop in a report on Wednesday, March 26th. They set an “overweight” rating and a $270.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wingstop has an average rating of “Moderate Buy” and an average target price of $348.23.

Wingstop Stock Performance

Wingstop stock opened at $218.84 on Friday. The firm has a 50 day moving average price of $236.71 and a 200 day moving average price of $293.80. Wingstop Inc. has a fifty-two week low of $205.60 and a fifty-two week high of $433.86. The company has a market capitalization of $6.11 billion, a PE ratio of 58.99, a price-to-earnings-growth ratio of 2.27 and a beta of 2.02.

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 0.49%. Wingstop’s dividend payout ratio is presently 29.11%.

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.