Wingstop (NASDAQ:WING) Price Target Cut to $300.00 by Analysts at BMO Capital Markets

Wingstop (NASDAQ:WING) had its price target lowered by BMO Capital Markets from $335.00 to $300.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a market perform rating on the restaurant operator’s stock.

WING has been the topic of a number of other reports. The Goldman Sachs Group raised shares of Wingstop from a “neutral” rating to a “buy” rating and dropped their target price for the company from $458.00 to $377.00 in a research report on Friday, November 8th. Piper Sandler dropped their target price on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Benchmark decreased their price target on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research note on Thursday. TD Cowen decreased their price target on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Barclays decreased their price target on shares of Wingstop from $470.00 to $380.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Wingstop has an average rating of “Moderate Buy” and a consensus price target of $367.05.

Wingstop Trading Down 6.8 %

Shares of NASDAQ:WING opened at $247.09 on Thursday. The company’s 50 day moving average is $290.24 and its two-hundred day moving average is $341.28. The company has a market cap of $7.22 billion, a PE ratio of 72.04, a P/E/G ratio of 2.75 and a beta of 1.81. Wingstop has a 52 week low of $242.58 and a 52 week high of $433.86.

Wingstop announced that its board has approved a stock buyback program on Thursday, December 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the restaurant operator to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, March 7th. Wingstop’s dividend payout ratio (DPR) is presently 31.49%.

Insider Transactions at Wingstop

In related news, SVP Raj Kapoor sold 266 shares of the firm’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 completion of the sale, the senior vice president now owns 266 shares in the company, valued at $86,285.08. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.36% of the company’s stock.

Institutional Trading of Wingstop

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vise Technologies Inc. lifted its stake in shares of Wingstop by 57.1% in the fourth quarter. Vise Technologies Inc. now owns 949 shares of the restaurant operator’s stock valued at $270,000 after purchasing an additional 345 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Wingstop by 15.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,502 shares of the restaurant operator’s stock valued at $24,868,000 after acquiring an additional 11,577 shares in the last quarter. Twinbeech Capital LP increased its holdings in Wingstop by 130.5% during the 4th quarter. Twinbeech Capital LP now owns 36,202 shares of the restaurant operator’s stock valued at $10,289,000 after acquiring an additional 20,493 shares in the last quarter. Tidal Investments LLC increased its holdings in Wingstop by 4.9% during the 4th quarter. Tidal Investments LLC now owns 795 shares of the restaurant operator’s stock valued at $226,000 after acquiring an additional 37 shares in the last quarter. Finally, Teza Capital Management LLC increased its holdings in Wingstop by 29.9% during the 4th quarter. Teza Capital Management LLC now owns 3,075 shares of the restaurant operator’s stock valued at $874,000 after acquiring an additional 707 shares in the last quarter.

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.