Amalgamated Bank Sells 57 Shares of Wingstop Inc. (NASDAQ:WING)

Amalgamated Bank lowered its stake in Wingstop Inc. (NASDAQ:WING) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,329 shares of the restaurant operator’s stock after selling 57 shares during the period. Amalgamated Bank’s holdings in Wingstop were worth $4,072,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WING. State Street Corp boosted its holdings in shares of Wingstop by 1.5% in the 3rd quarter. State Street Corp now owns 861,783 shares of the restaurant operator’s stock worth $358,571,000 after purchasing an additional 12,549 shares during the period. Franklin Resources Inc. boosted its stake in Wingstop by 0.9% during the third quarter. Franklin Resources Inc. now owns 816,991 shares of the restaurant operator’s stock worth $326,020,000 after buying an additional 7,204 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Wingstop by 7.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 647,677 shares of the restaurant operator’s stock worth $269,485,000 after buying an additional 46,772 shares during the period. Eagle Asset Management Inc. increased its position in Wingstop by 40.8% during the third quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock valued at $193,630,000 after acquiring an additional 134,802 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Wingstop by 20.5% in the third quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator’s stock valued at $174,095,000 after acquiring an additional 71,300 shares during the period.

Wingstop Stock Up 2.7 %

Wingstop stock opened at $234.78 on Friday. The firm has a market cap of $6.73 billion, a P/E ratio of 63.28, a P/E/G ratio of 2.27 and a beta of 1.81. The business has a fifty day moving average of $283.06 and a two-hundred day moving average of $335.79. Wingstop Inc. has a twelve month low of $219.12 and a twelve month high of $433.86.

Wingstop announced that its Board of Directors has authorized 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 repurchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Friday, March 7th. Wingstop’s dividend payout ratio (DPR) is currently 29.11%.

Insider Activity at Wingstop

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $324.38, for a total transaction of $86,285.08. Following the completion of the sale, 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 filing with the SEC, which can be accessed through this hyperlink. 0.36% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WING shares. Piper Sandler dropped their price target on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. 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. The Goldman Sachs Group upgraded Wingstop from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $458.00 to $377.00 in a report on Friday, November 8th. Northcoast Research cut Wingstop from a “buy” rating to a “neutral” rating in a report on Friday, February 21st. Finally, Raymond James reiterated an “outperform” rating and issued a $330.00 target price (down previously from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $357.67.

Wingstop 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.