Wingstop (NASDAQ:WING) Trading 4.9% Higher – Here’s Why

Wingstop Inc. (NASDAQ:WING) shares rose 4.9% on Thursday . The company traded as high as $230.57 and last traded at $231.13. Approximately 104,012 shares traded hands during trading, a decline of 81% from the average daily volume of 535,060 shares. The stock had previously closed at $220.37.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wedbush dropped their price target on shares of Wingstop from $390.00 to $355.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Benchmark lowered their target price on Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Stephens reiterated an “overweight” rating and issued a $450.00 price target on shares of Wingstop in a research report on Wednesday, February 19th. UBS Group cut their price objective on Wingstop from $330.00 to $300.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Finally, Morgan Stanley decreased their target price on shares of 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 fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.68.

Wingstop Stock Up 4.6 %

The firm has a 50 day moving average price of $259.33 and a 200 day moving average price of $314.57. The stock has a market capitalization of $6.61 billion, a PE ratio of 62.03, a P/E/G ratio of 2.27 and a beta of 1.88.

Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Friday, March 7th. Wingstop’s dividend payout ratio is 29.11%.

Wingstop announced that its Board of Directors has approved a stock buyback plan 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 plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WING. American Century Companies Inc. lifted its position in shares of Wingstop by 1.9% during the 4th quarter. American Century Companies Inc. now owns 1,206,062 shares of the restaurant operator’s stock worth $342,763,000 after buying an additional 22,552 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Wingstop by 29.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,150,217 shares of the restaurant operator’s stock worth $326,893,000 after acquiring an additional 262,229 shares during the period. State Street Corp boosted its position in Wingstop by 1.5% in the third quarter. State Street Corp now owns 861,783 shares of the restaurant operator’s stock worth $358,571,000 after purchasing an additional 12,549 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Wingstop by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 816,991 shares of the restaurant operator’s stock valued at $326,020,000 after purchasing an additional 7,204 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Wingstop by 23.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 801,732 shares of the restaurant operator’s stock worth $227,852,000 after purchasing an additional 154,055 shares during the period.

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.