Diversified Trust Co Invests $427,000 in Wingstop Inc. (NASDAQ:WING)

Diversified Trust Co bought a new stake in Wingstop Inc. (NASDAQ:WING) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,501 shares of the restaurant operator’s stock, valued at approximately $427,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Millennium Management LLC increased its holdings in shares of Wingstop by 284.1% in the 2nd quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock valued at $161,957,000 after acquiring an additional 283,412 shares during the last quarter. FMR LLC boosted its holdings in Wingstop by 984.7% in the third quarter. FMR LLC now owns 217,946 shares of the restaurant operator’s stock valued at $90,683,000 after purchasing an additional 197,853 shares in the last quarter. Renaissance Technologies LLC increased its stake in 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 during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Wingstop by 392.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 184,068 shares of the restaurant operator’s stock worth $76,587,000 after purchasing an additional 146,692 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its position in shares of Wingstop by 40.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock worth $193,630,000 after buying an additional 134,802 shares during the last quarter.

Wingstop Trading Down 1.4 %

Shares of WING stock opened at $274.69 on Friday. The stock has a 50 day simple moving average of $313.18 and a 200-day simple moving average of $362.20. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 80.08, a price-to-earnings-growth ratio of 2.81 and a beta of 1.81. Wingstop Inc. has a 12-month low of $256.50 and a 12-month high of $433.86.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.09). The business had revenue of $162.50 million during the quarter, compared to analysts’ expectations of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The company’s revenue was up 38.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. On average, equities analysts forecast that Wingstop Inc. will post 3.67 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.08 annualized dividend and a yield of 0.39%. Wingstop’s payout ratio is currently 31.49%.

Wingstop declared that its board has authorized a stock buyback plan on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the restaurant operator to repurchase up to 5.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

WING has been the subject of several research analyst reports. Piper Sandler decreased their price objective on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Citigroup raised their price target on Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Barclays reduced their price objective on Wingstop from $470.00 to $380.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. TD Cowen lowered their target price on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, BTIG Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price target for the company in a research report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Wingstop has a consensus rating of “Moderate Buy” and an average price target of $368.74.

Insider Buying and Selling at Wingstop

In other news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction 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 completion of the transaction, the senior vice president now owns 266 shares of the company’s stock, valued at $86,285.08. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

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.