Wingstop Inc. (NASDAQ:WING) Stock Position Decreased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its position in Wingstop Inc. (NASDAQ:WING) by 13.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,643 shares of the restaurant operator’s stock after selling 1,479 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Wingstop were worth $4,012,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in Wingstop in the 2nd quarter worth about $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Wingstop in the 2nd quarter worth approximately $34,000. True Wealth Design LLC acquired a new stake in shares of Wingstop in the 3rd quarter worth approximately $36,000. V Square Quantitative Management LLC lifted its stake in shares of Wingstop by 60.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 40 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Wingstop by 384.6% in the 3rd quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock worth $53,000 after acquiring an additional 100 shares during the period.

Insider Buying and Selling at Wingstop

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the company’s stock in a transaction that occurred 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 owns 266 shares in the company, valued at approximately $86,285.08. This represents a 50.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

WING has been the subject of a number of research analyst reports. Piper Sandler reduced 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. Citigroup upped their price target on shares of Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Northcoast Research raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price target for the company in a research note on Friday, November 1st. Wedbush reissued an “outperform” rating and set a $390.00 target price on shares of Wingstop in a research note on Tuesday, November 5th. Finally, BTIG Research raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 target price for the company in a research note on Thursday, October 31st. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Wingstop currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.74.

Wingstop Stock Performance

Shares of NASDAQ:WING opened at $301.33 on Friday. The company has a market cap of $8.80 billion, a PE ratio of 87.85, a price-to-earnings-growth ratio of 3.01 and a beta of 1.78. Wingstop Inc. has a 52 week low of $240.60 and a 52 week high of $433.86. The firm has a 50 day simple moving average of $344.52 and a 200 day simple moving average of $376.66.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.09). The firm had revenue of $162.50 million during the quarter, compared to analysts’ expectations of $160.24 million. Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The firm’s revenue was up 38.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 EPS. On average, equities analysts predict that Wingstop Inc. will post 3.67 earnings per share for the current year.

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

Wingstop Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were paid a $0.27 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.08 annualized dividend and a yield of 0.36%. Wingstop’s dividend payout ratio is presently 31.49%.

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.