Assetmark Inc. Has $2.57 Million Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Assetmark Inc. boosted its stake in Wingstop Inc. (NASDAQ:WING) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,042 shares of the restaurant operator’s stock after purchasing an additional 62 shares during the quarter. Assetmark Inc.’s holdings in Wingstop were worth $2,570,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of WING. FMR LLC grew its holdings in Wingstop by 984.7% in the third 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 during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of Wingstop by 392.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 184,068 shares of the restaurant operator’s stock valued at $76,587,000 after buying an additional 146,692 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Wingstop by 40.8% during the third quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock valued at $193,630,000 after buying an additional 134,802 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Wingstop by 20.5% during the third quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator’s stock valued at $174,095,000 after buying an additional 71,300 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Wingstop by 475.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 69,234 shares of the restaurant operator’s stock valued at $19,676,000 after buying an additional 57,193 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Northcoast Research cut shares of Wingstop from a “buy” rating to a “neutral” rating in a report on Friday, February 21st. BMO Capital Markets reduced their price objective on shares of Wingstop from $335.00 to $300.00 and set a “market perform” rating for the company in a report on Thursday, February 20th. Stephens reiterated an “overweight” rating and set a $450.00 price objective on shares of Wingstop in a report on Wednesday, February 19th. Finally, Raymond James reiterated an “outperform” rating and set a $330.00 price objective (down from $375.00) on shares of Wingstop in a report on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Wingstop presently has a consensus rating of “Moderate Buy” and an average price target of $357.67.

Wingstop Stock Performance

Shares of WING stock opened at $227.12 on Monday. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 61.22, a P/E/G ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a 52 week low of $209.61 and a 52 week high of $433.86. The firm’s 50-day simple moving average is $276.65 and its two-hundred day simple moving average is $329.66.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop’s dividend payout ratio is 29.11%.

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

Insiders Place Their Bets

In other news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction dated 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 transaction, the senior vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.36% of the company’s stock.

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.