Colonial River Investments LLC Acquires New Position in Wingstop Inc. (NASDAQ:WING)

Colonial River Investments LLC bought a new position in Wingstop Inc. (NASDAQ:WING) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 1,171 shares of the restaurant operator’s stock, valued at approximately $487,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hollencrest Capital Management bought a new position in shares of Wingstop during the second quarter valued at $27,000. Ashton Thomas Private Wealth LLC bought a new position in Wingstop during the 2nd quarter valued at about $34,000. Massmutual Trust Co. FSB ADV lifted its stake in Wingstop by 60.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after acquiring an additional 35 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of Wingstop by 60.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock valued at $44,000 after acquiring an additional 40 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Wingstop by 384.6% in the third 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.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Stephens lowered their price objective on shares of Wingstop from $490.00 to $468.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Barclays lowered their price target on Wingstop from $470.00 to $380.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. TD Cowen cut their price objective on Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a report on Thursday, October 31st. BTIG Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 target price on the stock in a report on Thursday, October 31st. Finally, Wedbush reissued an “outperform” rating and issued a $390.00 target price on shares of Wingstop in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Wingstop currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.74.

Wingstop Price Performance

WING opened at $339.98 on Friday. The company has a 50 day simple moving average of $380.53 and a two-hundred day simple moving average of $385.93. The firm has a market cap of $9.93 billion, a P/E ratio of 99.12, a PEG ratio of 3.17 and a beta of 1.76. Wingstop Inc. has a 1-year low of $204.01 and a 1-year high of $433.86.

Wingstop (NASDAQ:WING) last released its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share 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 firm had revenue of $162.50 million for the quarter, compared to analysts’ expectations of $160.24 million. During the same quarter last year, the firm posted $0.69 EPS. The firm’s quarterly revenue was up 38.8% compared to the same quarter last year. Equities analysts anticipate that Wingstop Inc. will post 3.68 earnings per share for the current year.

Wingstop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Friday, November 15th. Wingstop’s dividend payout ratio (DPR) is 31.49%.

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.