Summit Global Investments Makes New $3.33 Million Investment in Wingstop Inc. (NASDAQ:WING)

Summit Global Investments bought a new stake in Wingstop Inc. (NASDAQ:WING) during the third quarter, according to its most recent filing with the SEC. The firm bought 8,013 shares of the restaurant operator’s stock, valued at approximately $3,334,000.

Other hedge funds also recently bought and sold shares of the company. Pittenger & Anderson Inc. increased its stake in Wingstop by 100.0% during the third quarter. Pittenger & Anderson Inc. now owns 490 shares of the restaurant operator’s stock valued at $204,000 after acquiring an additional 245 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Wingstop by 64.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 3,741 shares of the restaurant operator’s stock valued at $1,557,000 after buying an additional 1,462 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Wingstop by 34.9% during the third quarter. Harbor Capital Advisors Inc. now owns 12,175 shares of the restaurant operator’s stock valued at $5,066,000 after purchasing an additional 3,147 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Wingstop by 942.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 271 shares of the restaurant operator’s stock valued at $113,000 after purchasing an additional 245 shares during the period. Finally, Stephens Inc. AR grew its position in shares of Wingstop by 3.9% during the 3rd quarter. Stephens Inc. AR now owns 1,873 shares of the restaurant operator’s stock worth $779,000 after buying an additional 71 shares during the period.

Wall Street Analysts Forecast Growth

WING has been the subject of several research reports. Morgan Stanley increased their price objective on shares of Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 16th. Barclays decreased their price target on shares of Wingstop from $470.00 to $380.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Northcoast Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 target price for the company in a report on Friday, November 1st. The Goldman Sachs Group raised Wingstop from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $458.00 to $377.00 in a report on Friday. Finally, Piper Sandler reduced their price target on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a research report on Monday. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Wingstop has a consensus rating of “Moderate Buy” and a consensus price target of $368.74.

Wingstop Trading Up 5.2 %

WING stock opened at $331.89 on Friday. The stock’s 50 day simple moving average is $381.45 and its 200 day simple moving average is $385.89. The stock has a market capitalization of $9.69 billion, a PE ratio of 96.76, a price-to-earnings-growth ratio of 2.94 and a beta of 1.76. Wingstop Inc. has a 12-month low of $204.01 and a 12-month high of $433.86.

Wingstop (NASDAQ:WING) last released its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The firm had revenue of $162.50 million for the quarter, compared to analysts’ expectations of $160.24 million. During the same quarter last year, the firm posted $0.69 EPS. The firm’s quarterly revenue was up 38.8% compared to the same quarter last year. On average, research analysts predict that Wingstop Inc. will post 3.68 earnings per share for the current year.

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Friday, November 15th. Wingstop’s dividend payout ratio (DPR) is currently 31.49%.

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.