Wingstop Inc. (NASDAQ:WING) Shares Sold by Wealth High Governance Capital Ltda

Wealth High Governance Capital Ltda decreased its holdings in Wingstop Inc. (NASDAQ:WING) by 89.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,082 shares of the restaurant operator’s stock after selling 26,918 shares during the quarter. Wealth High Governance Capital Ltda’s holdings in Wingstop were worth $876,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. State Street Corp grew its stake in shares of Wingstop by 1.5% in the third quarter. State Street Corp now owns 861,783 shares of the restaurant operator’s stock worth $358,571,000 after acquiring an additional 12,549 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Wingstop by 0.9% in the third quarter. Franklin Resources Inc. now owns 816,991 shares of the restaurant operator’s stock worth $326,020,000 after acquiring an additional 7,204 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Wingstop by 7.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 647,677 shares of the restaurant operator’s stock worth $269,485,000 after purchasing an additional 46,772 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of Wingstop by 40.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock worth $193,630,000 after purchasing an additional 134,802 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Wingstop by 20.5% during the 3rd quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator’s stock worth $174,095,000 after purchasing an additional 71,300 shares during the last quarter.

Wingstop Stock Down 0.2 %

Shares of Wingstop stock opened at $213.36 on Wednesday. Wingstop Inc. has a 52-week low of $207.53 and a 52-week high of $433.86. The company’s 50-day simple moving average is $273.76 and its 200-day simple moving average is $327.12. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 57.51, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88.

Wingstop declared that its Board of Directors has authorized a stock repurchase program on Thursday, December 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to repurchase up to 5.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Wingstop Announces Dividend

The business also recently announced 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 of this dividend is Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.51%. Wingstop’s payout ratio is currently 29.11%.

Insiders Place Their Bets

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $324.38, for a total transaction of $86,285.08. Following the transaction, the senior vice president now directly owns 266 shares in the company, valued at approximately $86,285.08. This represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.36% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on WING shares. Wedbush decreased their price objective on shares of Wingstop from $390.00 to $355.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Morgan Stanley reduced their price target on shares of Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Wingstop in a research report on Wednesday, February 19th. Guggenheim raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price target for the company in a research report on Monday, February 24th. Finally, Barclays reduced their price target 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. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average 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.