Zurcher Kantonalbank Zurich Cantonalbank Raises Position in Wingstop Inc. (NASDAQ:WING)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 15.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,630 shares of the restaurant operator’s stock after purchasing an additional 1,027 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Wingstop were worth $2,168,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of Wingstop during the 4th quarter worth $30,000. True Wealth Design LLC purchased a new position in shares of Wingstop during the 3rd quarter worth $36,000. V Square Quantitative Management LLC raised its position in shares of Wingstop by 34.9% in the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock worth $41,000 after buying an additional 37 shares during the period. R Squared Ltd acquired a new position in Wingstop in the fourth quarter valued at $71,000. Finally, Blue Trust Inc. boosted its holdings in Wingstop by 103.2% in the fourth quarter. Blue Trust Inc. now owns 256 shares of the restaurant operator’s stock valued at $73,000 after acquiring an additional 130 shares during the last quarter.

Wingstop Stock Performance

Shares of NASDAQ WING opened at $213.20 on Monday. Wingstop Inc. has a 1 year low of $207.53 and a 1 year high of $433.86. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 57.47, a PEG ratio of 2.27 and a beta of 1.88. The stock’s 50-day simple moving average is $269.17 and its 200-day simple moving average is $323.21.

Wingstop Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Friday, March 7th. Wingstop’s payout ratio is 29.11%.

Wingstop announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the restaurant operator to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WING. Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Wingstop in a report on Wednesday, February 19th. Guggenheim upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 target price on the stock in a report on Monday, February 24th. BMO Capital Markets reduced their target price on Wingstop from $335.00 to $300.00 and set a “market perform” rating on the stock in a report on Thursday, February 20th. Barclays reduced their target price on Wingstop from $359.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Finally, UBS Group reduced their target price on Wingstop from $330.00 to $300.00 and set a “neutral” rating on the stock in a report 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. Based on data from MarketBeat.com, Wingstop currently has a consensus rating of “Moderate Buy” and a consensus 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.