Donnie Upshaw Sells 91 Shares of Wingstop Inc. (NASDAQ:WING) Stock

Wingstop Inc. (NASDAQ:WING) SVP Donnie Upshaw sold 91 shares of Wingstop stock in a transaction on Sunday, March 2nd. The stock was sold at an average price of $234.78, for a total value of $21,364.98. Following the transaction, the senior vice president now directly owns 7,903 shares of the company’s stock, valued at approximately $1,855,466.34. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wingstop Price Performance

Shares of NASDAQ WING opened at $230.60 on Thursday. Wingstop Inc. has a 1-year low of $218.23 and a 1-year high of $433.86. The business has a 50-day moving average of $280.49 and a 200-day moving average of $332.94. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 62.16, a PEG ratio of 2.27 and a beta of 1.81.

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

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Friday, March 7th. Wingstop’s payout ratio is 29.11%.

Institutional Investors Weigh In On Wingstop

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Wingstop by 521.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 73 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in shares of Wingstop by 62.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after acquiring an additional 35 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Wingstop in the fourth quarter worth about $30,000. True Wealth Design LLC acquired a new position in shares of Wingstop in the third quarter worth about $36,000. Finally, V Square Quantitative Management LLC lifted its stake in shares of Wingstop by 34.9% in the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock worth $41,000 after acquiring an additional 37 shares in the last quarter.

Wall Street Analysts Forecast Growth

WING has been the subject of several research reports. The Goldman Sachs Group raised Wingstop from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $458.00 to $377.00 in a report on Friday, November 8th. Guggenheim raised Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price objective for the company in a research report on Monday, February 24th. Northcoast Research downgraded Wingstop from a “buy” rating to a “neutral” rating in a research report on Friday, February 21st. BMO Capital Markets lowered their price objective on Wingstop from $335.00 to $300.00 and set a “market perform” rating for the company in a research report on Thursday, February 20th. Finally, Morgan Stanley lowered their price objective on Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $357.67.

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.