Bridges Investment Management Inc. Has $222,000 Holdings in Wingstop Inc. (NASDAQ:WING)

Bridges Investment Management Inc. raised its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 52.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 781 shares of the restaurant operator’s stock after purchasing an additional 268 shares during the period. Bridges Investment Management Inc.’s holdings in Wingstop were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. US Bancorp DE lifted its position in Wingstop by 26.1% during the 4th quarter. US Bancorp DE now owns 6,324 shares of the restaurant operator’s stock valued at $1,797,000 after purchasing an additional 1,308 shares during the period. Versor Investments LP lifted its position in Wingstop by 149.0% during the 4th quarter. Versor Investments LP now owns 5,309 shares of the restaurant operator’s stock valued at $1,509,000 after purchasing an additional 3,177 shares during the period. Proficio Capital Partners LLC acquired a new position in Wingstop during the 4th quarter valued at about $10,177,000. Oppenheimer Asset Management Inc. lifted its position in Wingstop by 9.2% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 4,250 shares of the restaurant operator’s stock valued at $1,208,000 after purchasing an additional 359 shares during the period. Finally, Advisor OS LLC bought a new stake in shares of Wingstop in the 4th quarter valued at about $273,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WING. The Goldman Sachs Group raised Wingstop from a “neutral” rating to a “buy” rating and lowered their price target for the company from $458.00 to $377.00 in a research note on Friday, November 8th. BMO Capital Markets lowered their price target on Wingstop from $335.00 to $300.00 and set a “market perform” rating for the company in a research note on Thursday, February 20th. Piper Sandler lowered their price target on Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Guggenheim raised Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price target for the company in a research note on Monday, February 24th. Finally, Wedbush lowered their price target on Wingstop from $390.00 to $355.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $357.67.

Wingstop Stock Down 4.5 %

Shares of WING opened at $224.29 on Tuesday. The stock has a market capitalization of $6.43 billion, a P/E ratio of 60.46, a P/E/G ratio of 2.27 and a beta of 1.81. Wingstop Inc. has a twelve month low of $219.12 and a twelve month high of $433.86. The company has a 50 day moving average of $281.73 and a 200-day moving average of $334.06.

Wingstop Announces Dividend

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 dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 0.48%. Wingstop’s dividend payout ratio is currently 29.11%.

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

Insider Transactions at Wingstop

In other news, SVP Raj Kapoor sold 266 shares of the firm’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 transaction of $86,285.08. Following the completion of the transaction, the senior vice president now directly owns 266 shares of the company’s stock, valued at $86,285.08. This trade represents a 50.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.36% of the company’s stock.

Wingstop Company 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.