State of New Jersey Common Pension Fund D Lowers Stock Position in Wingstop Inc. (NASDAQ:WING)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,280 shares of the restaurant operator’s stock after selling 122 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Wingstop were worth $4,693,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fulton Bank N.A. grew its position in Wingstop by 5.0% during the third quarter. Fulton Bank N.A. now owns 547 shares of the restaurant operator’s stock worth $228,000 after buying an additional 26 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Wingstop by 3.7% during the 2nd quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock worth $347,000 after acquiring an additional 29 shares in the last quarter. Dark Forest Capital Management LP grew its holdings in shares of Wingstop by 4.3% in the 2nd quarter. Dark Forest Capital Management LP now owns 752 shares of the restaurant operator’s stock worth $318,000 after acquiring an additional 31 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after purchasing an additional 35 shares in the last quarter. Finally, Hollencrest Capital Management raised its holdings in Wingstop by 53.8% during the third quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 35 shares during the last quarter.

Wall Street Analyst Weigh In

WING has been the topic of several research reports. The Goldman Sachs Group raised Wingstop from a “neutral” rating to a “buy” rating and lowered their target price for the company from $458.00 to $377.00 in a report on Friday, November 8th. TD Cowen dropped their target price on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Stephens cut their target price on shares of Wingstop from $490.00 to $468.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Wedbush reiterated an “outperform” rating and issued a $390.00 price target on shares of Wingstop in a research report on Tuesday, November 5th. Finally, BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price objective for the company in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $368.74.

Wingstop Trading Down 1.5 %

Shares of NASDAQ:WING opened at $338.38 on Wednesday. Wingstop Inc. has a 12-month low of $210.94 and a 12-month high of $433.86. The stock’s 50-day moving average price is $378.99 and its two-hundred day moving average price is $385.60. The firm has a market cap of $9.88 billion, a price-to-earnings ratio of 98.65, a PEG ratio of 3.17 and a beta of 1.76.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The company had revenue of $162.50 million for the quarter, compared to analysts’ expectations of $160.24 million. During the same period in the prior year, the business earned $0.69 EPS. The business’s revenue for the quarter was up 38.8% on a year-over-year basis. As a group, research analysts forecast that Wingstop Inc. will post 3.68 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, November 15th. This represents a $1.08 annualized dividend and a yield of 0.32%. Wingstop’s dividend payout ratio is presently 31.49%.

Wingstop 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.