Wingstop (NASDAQ:WING) Sets New 1-Year Low – Here’s What Happened

Wingstop Inc. (NASDAQ:WING)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $207.53 and last traded at $213.97, with a volume of 581849 shares trading hands. The stock had previously closed at $227.12.

Analyst Upgrades and Downgrades

WING has been the topic of several research analyst reports. Northcoast Research cut shares of Wingstop from a “buy” rating to a “neutral” rating in a research note on Friday, February 21st. BMO Capital Markets decreased their target price on Wingstop from $335.00 to $300.00 and set a “market perform” rating for the company in a research report on Thursday, February 20th. Barclays reduced their price target on shares of Wingstop from $359.00 to $315.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Raymond James reiterated an “outperform” rating and issued a $330.00 price objective (down from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Finally, Wedbush reduced their price target on shares of Wingstop from $390.00 to $355.00 and set an “outperform” rating on the stock in a research 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 has a consensus rating of “Moderate Buy” and an average target price of $357.67.

Wingstop Price Performance

The stock has a fifty day simple moving average of $275.18 and a 200-day simple moving average of $328.46. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 57.62, a P/E/G ratio of 2.27 and a beta of 1.88.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Friday, March 7th. Wingstop’s dividend payout ratio is currently 29.11%.

Wingstop declared that its board has approved a share buyback plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to purchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Wingstop

In related news, SVP Raj Kapoor sold 266 shares of the business’s 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 sale, the senior vice president now directly owns 266 shares in the company, valued at $86,285.08. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Wingstop

A number of institutional investors have recently modified their holdings of the company. Verdence Capital Advisors LLC grew its position in Wingstop by 3.9% in the fourth quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator’s stock valued at $256,000 after acquiring an additional 34 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Wingstop by 0.3% in the third quarter. Public Employees Retirement System of Ohio now owns 11,523 shares of the restaurant operator’s stock worth $4,794,000 after acquiring an additional 35 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its stake in Wingstop by 62.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after buying an additional 35 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Wingstop by 34.9% in the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock worth $41,000 after acquiring an additional 37 shares during the period. Finally, Tidal Investments LLC grew its holdings in Wingstop by 4.9% in the 4th quarter. Tidal Investments LLC now owns 795 shares of the restaurant operator’s stock worth $226,000 after buying an additional 37 shares in the last quarter.

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.