Stephens reiterated their overweight rating on shares of Wingstop (NASDAQ:WING – Free Report) in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $450.00 price target on the restaurant operator’s stock.
Several other equities analysts also recently issued reports on the company. TD Cowen reduced their price objective on Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Barclays reduced their price objective on Wingstop from $470.00 to $380.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Raymond James reiterated an “outperform” rating and set a $330.00 price objective (down from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Morgan Stanley upgraded Wingstop from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $385.00 to $389.00 in a research report on Tuesday, January 21st. Finally, Benchmark upgraded Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price objective for the company in a research report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $367.05.
Read Our Latest Analysis on Wingstop
Wingstop Trading Down 5.3 %
Wingstop announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the restaurant operator to repurchase up to 5.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
Wingstop Dividend Announcement
The company also recently announced 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 0.46%. The ex-dividend date is Friday, March 7th. Wingstop’s dividend payout ratio (DPR) is currently 29.11%.
Insider Buying and Selling at Wingstop
In other news, SVP Raj Kapoor sold 266 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total value of $86,285.08. Following the transaction, the senior vice president now directly owns 266 shares of the company’s stock, valued at approximately $86,285.08. This represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.36% of the company’s stock.
Hedge Funds Weigh In On Wingstop
Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC increased its stake in shares of Wingstop by 277.5% in the fourth quarter. SG Americas Securities LLC now owns 4,771 shares of the restaurant operator’s stock worth $1,356,000 after acquiring an additional 3,507 shares during the last quarter. Conway Capital Management Inc. acquired a new position in shares of Wingstop in the third quarter worth $3,544,000. Los Angeles Capital Management LLC acquired a new position in shares of Wingstop in the third quarter worth $5,010,000. Eagle Asset Management Inc. increased its stake in shares of Wingstop by 40.8% in the third quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock worth $193,630,000 after acquiring an additional 134,802 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Wingstop in the third quarter worth $874,000.
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.
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