AlphaQuest LLC Has $90,000 Stake in Wingstop Inc. (NASDAQ:WING)

AlphaQuest LLC lowered its stake in Wingstop Inc. (NASDAQ:WING) by 88.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 315 shares of the restaurant operator’s stock after selling 2,507 shares during the quarter. AlphaQuest LLC’s holdings in Wingstop were worth $90,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new stake in shares of Wingstop in the 4th quarter valued at $16,528,000. River Global Investors LLP bought a new position in Wingstop in the fourth quarter valued at about $6,051,000. EFG Asset Management Americas Corp. increased its position in Wingstop by 28.3% in the fourth quarter. EFG Asset Management Americas Corp. now owns 7,049 shares of the restaurant operator’s stock worth $2,003,000 after purchasing an additional 1,556 shares during the period. Raymond James Financial Inc. bought a new stake in Wingstop during the 4th quarter worth about $115,301,000. Finally, Arizona State Retirement System lifted its position in Wingstop by 0.5% during the 4th quarter. Arizona State Retirement System now owns 8,499 shares of the restaurant operator’s stock valued at $2,415,000 after purchasing an additional 42 shares during the period.

Wall Street Analysts Forecast Growth

WING has been the subject of a number of recent research reports. Benchmark dropped their price target on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Barclays dropped their target price on shares of Wingstop from $359.00 to $315.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Stifel Nicolaus reduced their price target on Wingstop from $375.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Northcoast Research downgraded Wingstop from a “buy” rating to a “neutral” rating in a report on Friday, February 21st. Finally, Raymond James reissued an “outperform” rating and issued a $330.00 target price (down previously from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $357.67.

Wingstop Stock Performance

NASDAQ:WING opened at $207.00 on Wednesday. The company has a market cap of $5.93 billion, a PE ratio of 55.80, a PEG ratio of 2.27 and a beta of 1.88. The stock has a 50-day simple moving average of $266.14 and a 200 day simple moving average of $320.74. Wingstop Inc. has a 52-week low of $205.60 and a 52-week high of $433.86.

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a $0.27 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.52%. Wingstop’s dividend payout ratio is currently 29.11%.

Wingstop declared that its board has approved a stock repurchase plan on Thursday, December 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to buy up to 5.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

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.