Artisan Partners Limited Partnership Raises Stake in Wingstop Inc. (NASDAQ:WING)

Artisan Partners Limited Partnership lifted its position in Wingstop Inc. (NASDAQ:WING) by 47.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 268,657 shares of the restaurant operator’s stock after purchasing an additional 86,077 shares during the period. Artisan Partners Limited Partnership owned about 0.92% of Wingstop worth $76,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Citigroup Inc. increased its stake in Wingstop by 138.6% in the 3rd quarter. Citigroup Inc. now owns 14,921 shares of the restaurant operator’s stock worth $6,208,000 after buying an additional 53,542 shares in the last quarter. Cerity Partners LLC raised its stake in Wingstop by 145.2% during the 3rd quarter. Cerity Partners LLC now owns 9,507 shares of the restaurant operator’s stock valued at $3,956,000 after purchasing an additional 5,630 shares during the period. Daiwa Securities Group Inc. raised its stake in Wingstop by 125.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,770 shares of the restaurant operator’s stock valued at $1,985,000 after purchasing an additional 2,650 shares during the period. FMR LLC lifted its holdings in Wingstop by 984.7% in the 3rd quarter. FMR LLC now owns 217,946 shares of the restaurant operator’s stock worth $90,683,000 after purchasing an additional 197,853 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Wingstop by 364.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,330 shares of the restaurant operator’s stock worth $5,546,000 after purchasing an additional 10,460 shares during the period.

Wingstop Price Performance

Shares of NASDAQ WING opened at $229.29 on Friday. Wingstop Inc. has a 1 year low of $205.60 and a 1 year high of $433.86. The firm has a 50-day simple moving average of $258.42 and a two-hundred day simple moving average of $313.98. The company has a market cap of $6.57 billion, a P/E ratio of 61.80, a PEG ratio of 2.27 and a beta of 1.88.

Wingstop declared that its Board of Directors has approved a stock buyback plan on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to buy up to 5.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Wingstop Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop’s dividend payout ratio is currently 29.11%.

Wall Street Analysts Forecast Growth

WING has been the topic of several recent analyst reports. Northcoast Research cut shares of Wingstop from a “buy” rating to a “neutral” rating in a research report on Friday, February 21st. Benchmark decreased their price target on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Raymond James restated an “outperform” rating and set a $330.00 price objective (down previously from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Wingstop in a research report on Wednesday, February 19th. Finally, Barclays cut their price target on Wingstop from $359.00 to $315.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $353.68.

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.