River Global Investors LLP Takes Position in Wingstop Inc. (NASDAQ:WING)

River Global Investors LLP acquired a new position in shares of Wingstop Inc. (NASDAQ:WING) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 21,305 shares of the restaurant operator’s stock, valued at approximately $6,051,000. Wingstop makes up approximately 1.2% of River Global Investors LLP’s investment portfolio, making the stock its 23rd largest position. River Global Investors LLP owned about 0.07% of Wingstop as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. EFG Asset Management Americas Corp. lifted its holdings in Wingstop by 28.3% in the 4th quarter. EFG Asset Management Americas Corp. now owns 7,049 shares of the restaurant operator’s stock valued at $2,003,000 after purchasing an additional 1,556 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Wingstop in the fourth quarter valued at approximately $115,301,000. Arizona State Retirement System raised its position in shares of Wingstop by 0.5% in the fourth quarter. Arizona State Retirement System now owns 8,499 shares of the restaurant operator’s stock valued at $2,415,000 after buying an additional 42 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Wingstop by 3.9% during the fourth quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator’s stock valued at $256,000 after buying an additional 34 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Wingstop during the fourth quarter worth approximately $10,177,000.

Wingstop Stock Up 4.0 %

Shares of NASDAQ:WING opened at $227.12 on Friday. The company has a 50 day moving average of $277.81 and a two-hundred day moving average of $331.44. Wingstop Inc. has a 52-week low of $209.61 and a 52-week high of $433.86. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 61.22, a price-to-earnings-growth ratio of 2.27 and a beta of 1.81.

Wingstop Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.48%. The ex-dividend date is Friday, March 7th. Wingstop’s dividend payout ratio (DPR) is 29.11%.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WING shares. Guggenheim raised Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price target on the stock in a research note on Monday, February 24th. Benchmark dropped their price objective on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Barclays decreased their target price on shares of Wingstop from $359.00 to $315.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. The Goldman Sachs Group raised shares of Wingstop from a “neutral” rating to a “buy” rating and cut their price target for the stock from $458.00 to $377.00 in a research note on Friday, November 8th. Finally, Stifel Nicolaus lowered their price objective on shares of Wingstop from $375.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Wingstop has an average rating of “Moderate Buy” and a consensus target price of $357.67.

Insiders Place Their Bets

In other Wingstop news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction that occurred 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 sale, the senior vice president now directly owns 266 shares in the company, valued at $86,285.08. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is currently owned by company insiders.

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.