69,151 Shares in Wingstop Inc. (NASDAQ:WING) Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC purchased a new stake in Wingstop Inc. (NASDAQ:WING) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 69,151 shares of the restaurant operator’s stock, valued at approximately $19,653,000.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Wingstop during the 4th quarter worth $115,301,000. FMR LLC increased its holdings in Wingstop by 984.7% during the 3rd 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 in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Wingstop by 392.5% in 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 period. Eagle Asset Management Inc. increased its stake in Wingstop by 40.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock worth $193,630,000 after purchasing an additional 134,802 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of Wingstop by 20.5% during the 3rd quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator’s stock worth $174,095,000 after purchasing an additional 71,300 shares during the last quarter.

Insiders Place Their Bets

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total transaction of $86,285.08. Following the transaction, the senior vice president now owns 266 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. 0.36% of the stock is currently owned by insiders.

Wingstop Trading Down 0.2 %

Shares of NASDAQ WING opened at $213.36 on Wednesday. The stock has a market capitalization of $6.12 billion, a PE ratio of 57.51, a PEG ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a twelve month low of $207.53 and a twelve month high of $433.86. The stock has a fifty day simple moving average of $273.76 and a 200-day simple moving average of $327.12.

Wingstop declared that its board has approved a stock buyback program on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Wingstop Announces Dividend

The company 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 $0.27 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.51%. Wingstop’s dividend payout ratio is currently 29.11%.

Wall Street Analyst Weigh In

WING has been the subject of several research reports. UBS Group dropped their target price on Wingstop from $330.00 to $300.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. BMO Capital Markets reduced their target price on shares of Wingstop from $335.00 to $300.00 and set a “market perform” rating on the stock in a report on Thursday, February 20th. Stephens reiterated an “overweight” rating and issued a $450.00 price target on shares of Wingstop in a research note on Wednesday, February 19th. Morgan Stanley decreased their target price on Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Finally, Barclays decreased their price objective on shares of Wingstop from $359.00 to $315.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Seven 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, the company currently has an average rating of “Moderate Buy” and an average target price 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.