Wingstop (NASDAQ:WING) Price Target Lowered to $300.00 at BMO Capital Markets

Wingstop (NASDAQ:WING) had its price objective reduced by BMO Capital Markets from $335.00 to $300.00 in a research note released on Thursday morning,Benzinga reports. They currently have a market perform rating on the restaurant operator’s stock.

Other equities research analysts also recently issued reports about the stock. Piper Sandler lowered their price target on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Stephens reissued an “overweight” rating and issued a $450.00 target price on shares of Wingstop in a research report on Wednesday. Morgan Stanley decreased their target price on shares of Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research report on Thursday. Raymond James reaffirmed an “outperform” rating and set a $330.00 price target (down from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group raised shares of Wingstop from a “neutral” rating to a “buy” rating and reduced their price target for the company from $458.00 to $377.00 in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Wingstop currently has an average rating of “Moderate Buy” and an average target price of $367.05.

Wingstop Price Performance

Shares of NASDAQ WING opened at $247.09 on Thursday. The company has a market cap of $7.22 billion, a PE ratio of 72.04, a price-to-earnings-growth ratio of 2.75 and a beta of 1.81. Wingstop has a 12 month low of $242.58 and a 12 month high of $433.86. The company has a 50-day simple moving average of $290.24 and a 200-day simple moving average of $341.28.

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.27 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.44%. Wingstop’s dividend payout ratio (DPR) is presently 31.49%.

Wingstop announced that its Board of Directors has initiated a share repurchase program on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the restaurant operator to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total transaction of $86,285.08. Following the completion of the sale, the senior vice president now owns 266 shares in the company, valued at $86,285.08. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.36% of the company’s stock.

Institutional Trading of Wingstop

Several institutional investors have recently added to or reduced their stakes in WING. Blue Trust Inc. increased its stake in Wingstop by 384.6% during the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock valued at $53,000 after purchasing an additional 100 shares during the last quarter. Raymond James & Associates grew its position in shares of Wingstop by 104.0% during the third quarter. Raymond James & Associates now owns 49,908 shares of the restaurant operator’s stock worth $20,766,000 after acquiring an additional 25,440 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Wingstop by 41,244.9% during the third quarter. International Assets Investment Management LLC now owns 65,325 shares of the restaurant operator’s stock worth $27,180,000 after acquiring an additional 65,167 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in shares of Wingstop by 5.7% during the third quarter. NorthCrest Asset Manangement LLC now owns 5,941 shares of the restaurant operator’s stock worth $2,472,000 after acquiring an additional 322 shares during the last quarter. Finally, Arkadios Wealth Advisors bought a new position in shares of Wingstop during the third quarter worth about $224,000.

Wingstop Company 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.