Lord Abbett & CO. LLC raised its position in shares of Wingstop Inc (NASDAQ:WING) by 24.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,791 shares of the restaurant operator’s stock after purchasing an additional 12,791 shares during the period. Lord Abbett & CO. LLC owned 0.22% of Wingstop worth $3,060,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Wingstop by 1.3% during the first quarter. BlackRock Inc. now owns 3,734,552 shares of the restaurant operator’s stock valued at $176,384,000 after purchasing an additional 47,285 shares during the period. Bamco Inc. NY boosted its holdings in shares of Wingstop by 2.0% in the fourth quarter. Bamco Inc. NY now owns 1,030,000 shares of the restaurant operator’s stock worth $40,149,000 after acquiring an additional 20,000 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Wingstop by 15,155.8% in the first quarter. Victory Capital Management Inc. now owns 944,638 shares of the restaurant operator’s stock worth $44,615,000 after acquiring an additional 938,446 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Wingstop by 8.1% in the first quarter. Dimensional Fund Advisors LP now owns 776,468 shares of the restaurant operator’s stock worth $36,673,000 after acquiring an additional 57,897 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Wingstop by 10.6% in the fourth quarter. TIAA CREF Investment Management LLC now owns 601,328 shares of the restaurant operator’s stock worth $23,440,000 after acquiring an additional 57,679 shares during the period.
Shares of WING stock opened at $52.54 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of -1.49. Wingstop Inc has a 52-week low of $29.54 and a 52-week high of $55.85. The firm has a market capitalization of $1.49 billion, a P/E ratio of 71.00, a price-to-earnings-growth ratio of 3.13 and a beta of 0.90.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 18th. Investors of record on Monday, June 4th were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, June 1st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.53%. Wingstop’s dividend payout ratio (DPR) is presently 37.84%.
In related news, insider Stacy Peterson sold 12,350 shares of the stock in a transaction on Tuesday, April 10th. The stock was sold at an average price of $48.04, for a total value of $593,294.00. Following the sale, the insider now owns 39,423 shares in the company, valued at $1,893,880.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lawrence Kruguer sold 1,064 shares of the stock in a transaction on Monday, May 14th. The stock was sold at an average price of $51.45, for a total value of $54,742.80. The disclosure for this sale can be found here. Insiders sold 66,695 shares of company stock worth $3,421,284 in the last quarter. 1.76% of the stock is currently owned by company insiders.
A number of equities analysts have recently commented on WING shares. BidaskClub lowered Wingstop from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 12th. BTIG Research started coverage on Wingstop in a report on Friday, April 20th. They issued a “buy” rating and a $59.00 price target for the company. Stifel Nicolaus raised their price target on Wingstop from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, April 18th. ValuEngine raised Wingstop from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, TheStreet raised Wingstop from a “d+” rating to a “c+” rating in a report on Monday, June 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $50.79.
Wingstop Company Profile
Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of February 22, 2018, the company operated approximately 1,000 restaurants the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, and Colombia.
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