Teacher Retirement System of Texas Has $4.04 Million Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Teacher Retirement System of Texas boosted its position in Wingstop Inc. (NASDAQ:WING) by 37.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,200 shares of the restaurant operator’s stock after acquiring an additional 3,892 shares during the quarter. Teacher Retirement System of Texas’ holdings in Wingstop were worth $4,036,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Xponance Inc. increased its stake in shares of Wingstop by 4.2% in the 4th quarter. Xponance Inc. now owns 6,009 shares of the restaurant operator’s stock valued at $1,708,000 after purchasing an additional 241 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Wingstop by 1.3% in the fourth quarter. Advisors Asset Management Inc. now owns 8,057 shares of the restaurant operator’s stock valued at $2,290,000 after buying an additional 103 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Wingstop by 507.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 43,378 shares of the restaurant operator’s stock worth $12,328,000 after acquiring an additional 36,232 shares during the last quarter. Nicholas Company Inc. bought a new stake in shares of Wingstop during the fourth quarter worth about $10,572,000. Finally, Envestnet Portfolio Solutions Inc. increased its position in Wingstop by 9.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,576 shares of the restaurant operator’s stock valued at $448,000 after acquiring an additional 134 shares during the period.

Wingstop Stock Performance

Shares of WING opened at $222.62 on Tuesday. The firm has a market capitalization of $6.38 billion, a P/E ratio of 60.01, a P/E/G ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a 52 week low of $205.60 and a 52 week high of $433.86. The stock has a 50 day moving average price of $261.44 and a two-hundred day moving average price of $316.24.

Wingstop announced that its Board of Directors has approved a stock buyback plan on Thursday, December 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the restaurant operator to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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 paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.49%. The ex-dividend date is Friday, March 7th. Wingstop’s dividend payout ratio (DPR) is presently 29.11%.

Analyst Ratings Changes

WING has been the topic of several analyst reports. Raymond James reiterated an “outperform” rating and issued a $330.00 target price (down from $375.00) on shares of Wingstop in a report on Tuesday, January 28th. UBS Group dropped their target price on shares of Wingstop from $330.00 to $300.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Guggenheim raised Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price objective for the company in a research report on Monday, February 24th. TD Securities decreased their target price on Wingstop from $365.00 to $305.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, Morgan Stanley lowered their target price on Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $357.67.

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.