Federated Hermes Inc. Cuts Stock Position in Wingstop Inc. (NASDAQ:WING)

Federated Hermes Inc. lessened its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 3.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,015,562 shares of the restaurant operator’s stock after selling 35,943 shares during the quarter. Wingstop comprises about 0.6% of Federated Hermes Inc.’s holdings, making the stock its 29th biggest holding. Federated Hermes Inc. owned about 3.48% of Wingstop worth $288,631,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WING. Captrust Financial Advisors boosted its position in Wingstop by 22.3% in the 3rd quarter. Captrust Financial Advisors now owns 2,859 shares of the restaurant operator’s stock valued at $1,190,000 after buying an additional 521 shares during the period. Benjamin Edwards Inc. purchased a new position in Wingstop in the third quarter valued at $518,000. Integrated Wealth Concepts LLC grew its stake in Wingstop by 3.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,574 shares of the restaurant operator’s stock worth $1,071,000 after purchasing an additional 88 shares in the last quarter. Quantinno Capital Management LP acquired a new position in Wingstop during the 3rd quarter worth $552,000. Finally, Stifel Financial Corp raised its position in Wingstop by 9.7% in the 3rd quarter. Stifel Financial Corp now owns 17,403 shares of the restaurant operator’s stock valued at $7,241,000 after purchasing an additional 1,532 shares in the last quarter.

Wingstop Stock Down 4.3 %

Shares of Wingstop stock opened at $232.36 on Friday. Wingstop Inc. has a fifty-two week low of $205.60 and a fifty-two week high of $433.86. The business’s fifty day moving average is $252.80 and its two-hundred day moving average is $306.70. The firm has a market cap of $6.48 billion, a PE ratio of 62.63, a P/E/G ratio of 2.27 and a beta of 2.01.

Wingstop Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, March 7th. Wingstop’s dividend payout ratio is currently 29.11%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. TD Securities lowered their price objective on Wingstop from $365.00 to $305.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Morgan Stanley lowered their target price on shares of Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. BTIG Research reissued a “buy” rating on shares of Wingstop in a research report on Tuesday, March 25th. Wells Fargo & Company assumed coverage on shares of Wingstop in a research note on Wednesday, March 26th. They issued an “overweight” rating and a $270.00 price objective for the company. Finally, UBS Group cut their target price on Wingstop from $330.00 to $300.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $350.73.

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.