Connor Clark & Lunn Investment Management Ltd. Takes Position in Wingstop Inc. (NASDAQ:WING)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Wingstop Inc. (NASDAQ:WING) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 11,976 shares of the restaurant operator’s stock, valued at approximately $4,983,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Hollencrest Capital Management acquired a new position in shares of Wingstop during the second quarter worth $27,000. Ashton Thomas Private Wealth LLC bought a new position in Wingstop during the 2nd quarter worth $34,000. Massmutual Trust Co. FSB ADV raised its position in Wingstop by 60.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after purchasing an additional 35 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in Wingstop by 60.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after buying an additional 40 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Wingstop by 384.6% in the 3rd quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock valued at $53,000 after buying an additional 100 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Stephens cut their price objective on Wingstop from $490.00 to $468.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Raymond James upgraded shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Thursday, August 1st. The Goldman Sachs Group raised shares of Wingstop from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $458.00 to $377.00 in a research note on Friday, November 8th. Wedbush restated an “outperform” rating and issued a $390.00 target price on shares of Wingstop in a report on Tuesday, November 5th. Finally, BTIG Research raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price target on the stock in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $368.74.

Wingstop Stock Down 0.2 %

Shares of WING opened at $337.60 on Friday. The business’s fifty day moving average is $371.30 and its 200 day moving average is $382.48. Wingstop Inc. has a 12-month low of $229.27 and a 12-month high of $433.86. The stock has a market cap of $9.86 billion, a P/E ratio of 98.43, a P/E/G ratio of 3.15 and a beta of 1.76.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). The business had revenue of $162.50 million during the quarter, compared to the consensus estimate of $160.24 million. Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The firm’s quarterly revenue was up 38.8% on a year-over-year basis. During the same period last year, the business posted $0.69 earnings per share. On average, analysts expect that Wingstop Inc. will post 3.68 EPS for the current year.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Friday, November 15th. Wingstop’s dividend payout ratio is currently 31.49%.

Wingstop 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.