Wingstop Inc. (NASDAQ:WING) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in Wingstop Inc. (NASDAQ:WING) by 28.6% during the 4th quarter, Holdings Channel reports. The fund owned 1,815 shares of the restaurant operator’s stock after selling 726 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Wingstop were worth $516,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in Wingstop by 28.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,770 shares of the restaurant operator’s stock worth $1,153,000 after purchasing an additional 620 shares in the last quarter. KBC Group NV raised its holdings in Wingstop by 8.6% during the third quarter. KBC Group NV now owns 757 shares of the restaurant operator’s stock worth $315,000 after purchasing an additional 60 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in Wingstop by 9.1% during the third quarter. OneDigital Investment Advisors LLC now owns 686 shares of the restaurant operator’s stock worth $285,000 after purchasing an additional 57 shares in the last quarter. Natixis Advisors LLC raised its holdings in Wingstop by 6.6% during the third quarter. Natixis Advisors LLC now owns 13,269 shares of the restaurant operator’s stock worth $5,521,000 after purchasing an additional 822 shares in the last quarter. Finally, Claro Advisors LLC acquired a new stake in Wingstop during the third quarter worth approximately $245,000.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WING shares. Northcoast Research cut shares of Wingstop from a “buy” rating to a “neutral” rating in a report on Friday, February 21st. Barclays cut their target price on shares of Wingstop from $359.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. BMO Capital Markets cut their target price on shares of Wingstop from $335.00 to $300.00 and set a “market perform” rating on the stock in a report on Thursday, February 20th. Morgan Stanley cut their target price on shares of Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Finally, TD Securities cut their target price on shares of Wingstop from $365.00 to $305.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Wingstop presently has an average rating of “Moderate Buy” and a consensus price target of $357.67.

Wingstop Stock Performance

Shares of NASDAQ WING opened at $214.65 on Thursday. The firm has a market capitalization of $6.15 billion, a P/E ratio of 57.86, a PEG ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a one year low of $205.60 and a one year high of $433.86. The company’s fifty day moving average is $264.86 and its two-hundred day moving average is $320.00.

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 0.50%. Wingstop’s payout ratio is currently 29.11%.

Wingstop announced that its Board of Directors has approved a stock repurchase program on Thursday, December 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.