Connor Clark & Lunn Investment Management Ltd. Takes Position in Wingstop Inc. (NASDAQ:WING)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Wingstop Inc. (NASDAQ:WING) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 11,976 shares of the restaurant operator’s stock, valued at approximately $4,983,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WING. Hollencrest Capital Management bought a new position in shares of Wingstop during the 2nd quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Wingstop in the second quarter valued at approximately $34,000. Massmutual Trust Co. FSB ADV increased its position in shares of Wingstop by 60.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after acquiring an additional 35 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in Wingstop by 60.6% during the third quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 40 shares during the period. Finally, Blue Trust Inc. boosted its position in Wingstop by 384.6% in the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock worth $53,000 after purchasing an additional 100 shares during the last quarter.

Wingstop Stock Down 0.2 %

Shares of WING opened at $337.60 on Friday. Wingstop Inc. has a twelve month low of $229.27 and a twelve month high of $433.86. The stock has a market cap of $9.86 billion, a PE ratio of 98.43, a P/E/G ratio of 3.15 and a beta of 1.76. The business’s 50-day moving average price is $371.30 and its 200-day moving average price is $382.48.

Wingstop (NASDAQ:WING) last posted its 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 firm had revenue of $162.50 million for the quarter, compared to the consensus estimate of $160.24 million. During the same period last year, the company posted $0.69 EPS. The business’s revenue was up 38.8% on a year-over-year basis. Analysts expect that Wingstop Inc. will post 3.68 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $0.27 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.32%. Wingstop’s dividend payout ratio (DPR) is presently 31.49%.

Analyst Ratings Changes

Several brokerages have recently issued reports on WING. Stephens decreased their target price on Wingstop from $490.00 to $468.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Barclays decreased their price objective on shares of Wingstop from $470.00 to $380.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Wedbush reiterated an “outperform” rating and issued a $390.00 target price on shares of Wingstop in a research note on Tuesday, November 5th. Citigroup raised their price target on shares of Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Finally, Truist Financial upped their price objective on Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Wingstop currently has an average rating of “Moderate Buy” and a consensus target price of $368.74.

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.