Envestnet Portfolio Solutions Inc. Raises Stake in Wingstop Inc. (NASDAQ:WING)

Envestnet Portfolio Solutions Inc. raised its stake in shares of Wingstop Inc. (NASDAQ:WING) by 9.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,576 shares of the restaurant operator’s stock after buying an additional 134 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Wingstop were worth $448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of Wingstop by 521.4% in the fourth 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 lifted its stake in Wingstop by 62.5% in 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 in the last quarter. SBI Securities Co. Ltd. bought a new position in Wingstop in the 4th quarter valued at $30,000. True Wealth Design LLC purchased a new position in shares of Wingstop during the 3rd quarter valued at $36,000. Finally, V Square Quantitative Management LLC grew its position in shares of Wingstop by 34.9% during the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock valued at $41,000 after purchasing an additional 37 shares in the last quarter.

Wingstop Stock Performance

Shares of WING stock opened at $220.08 on Wednesday. The company has a market capitalization of $6.31 billion, a P/E ratio of 59.32, a PEG ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a fifty-two week low of $205.60 and a fifty-two week high of $433.86. The stock has a 50 day moving average price of $260.38 and a two-hundred day moving average price of $315.24.

Wingstop Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.49%. Wingstop’s payout ratio is currently 29.11%.

Wingstop declared that its board has initiated a share 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Benchmark lowered their price objective on Wingstop from $340.00 to $325.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Northcoast Research cut Wingstop from a “buy” rating to a “neutral” rating in a report on Friday, February 21st. Wedbush cut their price objective on Wingstop from $390.00 to $355.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. BMO Capital Markets decreased their price objective 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. Finally, Raymond James reiterated an “outperform” rating and set a $330.00 target price (down from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Wingstop presently has a consensus rating of “Moderate Buy” and a consensus price target 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.