Geode Capital Management LLC decreased its stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 7.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 532,917 shares of the restaurant operator's stock after selling 45,516 shares during the quarter. Geode Capital Management LLC owned 1.82% of Wingstop worth $221,789,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the stock. Driehaus Capital Management LLC increased its stake in Wingstop by 4.1% during the second quarter. Driehaus Capital Management LLC now owns 193,307 shares of the restaurant operator's stock valued at $81,703,000 after acquiring an additional 7,600 shares during the period. Scientech Research LLC acquired a new stake in shares of Wingstop during the 2nd quarter worth approximately $2,249,000. Los Angeles Capital Management LLC bought a new stake in shares of Wingstop during the third quarter valued at approximately $5,010,000. Renaissance Technologies LLC raised its stake in shares of Wingstop by 36.6% in the second quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator's stock valued at $254,860,000 after purchasing an additional 161,600 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its position in Wingstop by 40.8% in the third quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator's stock worth $193,630,000 after purchasing an additional 134,802 shares during the period.
Shares of NASDAQ:WING opened at $301.33 on Friday. The firm has a market cap of $8.80 billion, a P/E ratio of 87.85, a P/E/G ratio of 2.81 and a beta of 1.78. Wingstop Inc. has a 12 month low of $240.60 and a 12 month high of $433.86. The company's 50-day moving average price is $344.52 and its two-hundred day moving average price is $376.56.
Wingstop (NASDAQ:WING - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.09). The company had revenue of $162.50 million for the quarter, compared to the consensus estimate of $160.24 million. Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. Wingstop's revenue for the quarter was up 38.8% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. As a group, equities analysts predict that Wingstop Inc. will post 3.67 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 15th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Friday, November 15th. Wingstop's dividend payout ratio is currently 31.49%.
Wingstop announced that its Board of Directors has approved 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 reacquire up to 5.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.
Several equities research analysts have issued reports on the stock. TD Cowen lowered their price target on shares of Wingstop from $450.00 to $365.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. Benchmark raised shares of Wingstop from a "hold" rating to a "buy" rating and set a $340.00 target price on the stock in a research note on Thursday, October 31st. Stephens reissued an "overweight" rating and issued a $468.00 price target on shares of Wingstop in a research report on Monday, December 9th. The Goldman Sachs Group raised Wingstop from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $458.00 to $377.00 in a report on Friday, November 8th. Finally, Citigroup increased their target price on Wingstop from $417.00 to $440.00 and gave the stock a "neutral" rating in a report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $368.74.
View Our Latest Stock Analysis on Wingstop
In related 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 value of $86,285.08. Following the completion of the sale, the senior vice president now owns 266 shares of the company's stock, valued at $86,285.08. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.36% of the stock is currently owned by company insiders.
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.
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