Oak Ridge Investments LLC Has $2.03 Million Position in Wingstop Inc. (NASDAQ:WING)

Oak Ridge Investments LLC lessened its holdings in Wingstop Inc. (NASDAQ:WING) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,135 shares of the restaurant operator’s stock after selling 225 shares during the quarter. Oak Ridge Investments LLC’s holdings in Wingstop were worth $2,028,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mercer Global Advisors Inc. ADV boosted its position in Wingstop by 2.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,294 shares of the restaurant operator’s stock worth $969,000 after acquiring an additional 47 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Wingstop by 8.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,691 shares of the restaurant operator’s stock worth $1,137,000 after purchasing an additional 215 shares during the period. Intech Investment Management LLC acquired a new position in Wingstop in the 2nd quarter valued at approximately $5,989,000. Benjamin F. Edwards & Company Inc. lifted its position in Wingstop by 4.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,440 shares of the restaurant operator’s stock worth $608,000 after buying an additional 60 shares in the last quarter. Finally, Hollencrest Capital Management acquired a new stake in shares of Wingstop during the 2nd quarter valued at $27,000.

Insider Activity

In other Wingstop news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction 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 sale, the senior vice president now owns 266 shares in the company, valued at $86,285.08. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.36% of the stock is currently owned by company insiders.

Wingstop Price Performance

NASDAQ:WING opened at $272.92 on Friday. Wingstop Inc. has a one year low of $266.45 and a one year high of $433.86. The company has a fifty day moving average price of $308.26 and a 200 day moving average price of $355.62. The stock has a market cap of $7.97 billion, a P/E ratio of 79.57, a PEG ratio of 2.14 and a beta of 1.81.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The company had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. During the same period in the prior year, the company posted $0.69 EPS. The firm’s quarterly revenue was up 38.8% on a year-over-year basis. As a group, equities research analysts anticipate that Wingstop Inc. will post 3.67 EPS for the current year.

Wingstop announced that its board has authorized a stock repurchase 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, November 15th. Wingstop’s payout ratio is presently 31.49%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Piper Sandler cut their price objective on Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Citigroup increased their price objective on Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. The Goldman Sachs Group upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and reduced their target price for the company from $458.00 to $377.00 in a research note on Friday, November 8th. Northcoast Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price target on the stock in a research note on Friday, November 1st. Finally, BTIG Research raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price objective for the company in a research note on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $368.74.

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.