Zevenbergen Capital Investments LLC Raises Stake in Wingstop Inc. (NASDAQ:WING)

Zevenbergen Capital Investments LLC increased its holdings in Wingstop Inc. (NASDAQ:WING) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 173,650 shares of the restaurant operator’s stock after buying an additional 6,177 shares during the quarter. Wingstop comprises approximately 1.0% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 26th largest holding. Zevenbergen Capital Investments LLC owned 0.59% of Wingstop worth $49,351,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of WING. True Wealth Design LLC acquired a new position in Wingstop during the third quarter valued at $36,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Wingstop by 521.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 73 shares during the period. CBIZ Investment Advisory Services LLC boosted its stake in shares of Wingstop by 62.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after buying an additional 35 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Wingstop during the fourth quarter worth about $30,000. Finally, V Square Quantitative Management LLC raised its position in Wingstop by 34.9% during the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock valued at $41,000 after acquiring an additional 37 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Guggenheim raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price objective on the stock in a research note on Monday, February 24th. TD Securities decreased their price objective on shares of Wingstop from $365.00 to $305.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Benchmark dropped their target price 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 downgraded Wingstop from a “buy” rating to a “neutral” rating in a research report on Friday, February 21st. Finally, UBS Group dropped their price objective on Wingstop from $330.00 to $300.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Wingstop has an average rating of “Moderate Buy” and an average target price of $357.67.

Wingstop Stock Performance

NASDAQ WING opened at $215.46 on Monday. The stock’s fifty day moving average is $262.51 and its two-hundred day moving average is $317.30. The firm has a market capitalization of $6.18 billion, a P/E ratio of 58.08, a price-to-earnings-growth 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.

Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.50%. The ex-dividend date is Friday, March 7th. Wingstop’s payout ratio is currently 29.11%.

Wingstop announced that its board has authorized a stock repurchase plan on Thursday, December 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the restaurant operator to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is 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.