Arrowstreet Capital Limited Partnership Sells 48,832 Shares of Wingstop Inc. (NASDAQ:WING)

Arrowstreet Capital Limited Partnership decreased its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 435,685 shares of the restaurant operator’s stock after selling 48,832 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.49% of Wingstop worth $123,822,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WING. Citigroup Inc. boosted its position in shares of Wingstop by 138.6% during the 3rd quarter. Citigroup Inc. now owns 14,921 shares of the restaurant operator’s stock valued at $6,208,000 after acquiring an additional 53,542 shares during the last quarter. FMR LLC lifted its position in Wingstop by 984.7% during the third quarter. FMR LLC now owns 217,946 shares of the restaurant operator’s stock valued at $90,683,000 after purchasing an additional 197,853 shares during the last quarter. BNP Paribas Financial Markets grew 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 buying an additional 10,460 shares in the last quarter. Freedom Investment Management Inc. bought a new position in shares of Wingstop in the 3rd quarter worth $351,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Wingstop during the 3rd quarter valued at $1,802,000.

Wingstop Stock Performance

NASDAQ WING opened at $224.00 on Monday. The stock has a market cap of $6.25 billion, a P/E ratio of 60.38, 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. The stock has a 50 day simple moving average of $257.45 and a two-hundred day simple moving average of $311.98.

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

Wingstop Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Friday, March 7th. Wingstop’s payout ratio is 29.11%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company began coverage on shares of Wingstop in a research report on Wednesday, March 26th. They issued an “overweight” rating and a $270.00 target price for the company. BMO Capital Markets reduced their price objective on Wingstop from $335.00 to $300.00 and set a “market perform” rating on the stock in a research report on Thursday, February 20th. Stifel Nicolaus dropped their target price on Wingstop from $375.00 to $350.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Morgan Stanley reduced their price target on shares of Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Finally, Stephens restated an “overweight” rating and issued a $450.00 price objective on shares of Wingstop in a report on Wednesday, February 19th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Wingstop currently has a consensus rating of “Moderate Buy” and an average target price 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.