Wingstop (NASDAQ:WING) Price Target Cut to $350.00 by Analysts at Stifel Nicolaus

Wingstop (NASDAQ:WING) had its price target lowered by Stifel Nicolaus from $375.00 to $350.00 in a report published on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the restaurant operator’s stock.

Several other equities research analysts have also commented on WING. Benchmark lowered their price objective on Wingstop from $340.00 to $325.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Barclays lowered their price target on shares of Wingstop from $359.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Northcoast Research lowered shares of Wingstop from a “buy” rating to a “neutral” rating in a research report on Friday, February 21st. TD Cowen decreased their price objective on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Wedbush dropped their target price on Wingstop from $390.00 to $355.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $357.67.

Wingstop Stock Up 2.7 %

Shares of WING stock opened at $234.78 on Friday. Wingstop has a 52-week low of $219.12 and a 52-week high of $433.86. The stock has a market cap of $6.73 billion, a PE ratio of 63.28, a price-to-earnings-growth ratio of 2.27 and a beta of 1.81. The business has a 50-day simple moving average of $283.06 and a 200-day simple moving average of $335.79.

Wingstop Dividend Announcement

The firm also recently declared 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 0.46%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop’s dividend payout ratio is currently 29.11%.

Wingstop announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the restaurant operator to buy up to 5.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Wingstop

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $324.38, for a total transaction of $86,285.08. Following the transaction, the senior vice president now owns 266 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through the SEC website. 0.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. acquired a new stake in Wingstop during the fourth quarter worth about $151,802,000. Raymond James Financial Inc. purchased a new stake in shares of Wingstop in the 4th quarter valued at approximately $115,301,000. Norges Bank acquired a new stake in shares of Wingstop during the 4th quarter worth approximately $106,123,000. Ameriprise Financial Inc. increased its holdings in shares of Wingstop by 760.9% during the 4th quarter. Ameriprise Financial Inc. now owns 381,745 shares of the restaurant operator’s stock worth $108,497,000 after buying an additional 337,401 shares during the last quarter. Finally, Champlain Investment Partners LLC purchased a new stake in shares of Wingstop during the 4th quarter valued at approximately $77,855,000.

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.