Wingstop (NASDAQ:WING) Price Target Lowered to $300.00 at UBS Group

Wingstop (NASDAQ:WING) had its price objective decreased by UBS Group from $330.00 to $300.00 in a research note published on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the restaurant operator’s stock.

A number of other equities analysts have also commented on WING. Benchmark reduced their target price on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating on the stock in a research report on Thursday. Wedbush reduced their target price on shares of Wingstop from $390.00 to $355.00 and set an “outperform” rating on the stock in a research report on Thursday. Raymond James reaffirmed 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. TD Cowen reduced their target price on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, BMO Capital Markets reduced their target price 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. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Wingstop currently has an average rating of “Moderate Buy” and an average target price of $367.05.

Wingstop Stock Performance

Shares of NASDAQ:WING opened at $247.09 on Thursday. The firm has a market cap of $7.22 billion, a PE ratio of 72.04, a price-to-earnings-growth ratio of 2.75 and a beta of 1.81. The firm’s 50 day simple moving average is $290.24 and its 200-day simple moving average is $341.28. Wingstop has a one year low of $242.58 and a one year high of $433.86.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.27 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.44%. Wingstop’s dividend payout ratio (DPR) is 31.49%.

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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Wingstop

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total value of $86,285.08. Following the completion of the sale, the senior vice president now directly owns 266 shares in the company, valued at $86,285.08. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Wingstop

Several institutional investors and hedge funds have recently made changes to their positions in WING. Blue Trust Inc. lifted its stake in shares of Wingstop by 384.6% during the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock worth $53,000 after buying an additional 100 shares during the period. Raymond James & Associates lifted its stake in shares of Wingstop by 104.0% during the third quarter. Raymond James & Associates now owns 49,908 shares of the restaurant operator’s stock worth $20,766,000 after buying an additional 25,440 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Wingstop by 41,244.9% during the third quarter. International Assets Investment Management LLC now owns 65,325 shares of the restaurant operator’s stock worth $27,180,000 after buying an additional 65,167 shares during the period. NorthCrest Asset Manangement LLC lifted its stake in shares of Wingstop by 5.7% during the third quarter. NorthCrest Asset Manangement LLC now owns 5,941 shares of the restaurant operator’s stock worth $2,472,000 after buying an additional 322 shares during the period. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Wingstop during the third quarter worth $224,000.

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.