Stifel Nicolaus Lowers Wingstop (NASDAQ:WING) Price Target to $350.00

Wingstop (NASDAQ:WING) had its price target trimmed by Stifel Nicolaus from $375.00 to $350.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

A number of other brokerages have also issued reports on WING. Guggenheim raised Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 target price on the stock in a research report on Monday, February 24th. Stephens reiterated an “overweight” rating and issued a $450.00 price objective on shares of Wingstop in a report on Wednesday, February 19th. The Goldman Sachs Group raised Wingstop from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $458.00 to $377.00 in a research note on Friday, November 8th. TD Securities dropped their target price on Wingstop from $365.00 to $305.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Finally, Piper Sandler reduced their price target on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $357.67.

Wingstop Stock Performance

Wingstop stock opened at $234.78 on Friday. The company’s 50 day simple moving average is $283.06 and its 200-day simple moving average is $335.79. Wingstop has a 1 year low of $219.12 and a 1 year high of $433.86. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 63.28, a price-to-earnings-growth ratio of 2.27 and a beta of 1.81.

Wingstop Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.46%. The ex-dividend date is Friday, March 7th. Wingstop’s dividend payout ratio is presently 29.11%.

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

Insider Activity

In other news, SVP Raj Kapoor sold 266 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total value of $86,285.08. Following the completion of the sale, the senior vice president now owns 266 shares in the company, valued at approximately $86,285.08. This trade represents a 50.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in Wingstop by 1.9% in the 4th quarter. American Century Companies Inc. now owns 1,206,062 shares of the restaurant operator’s stock valued at $342,763,000 after purchasing an additional 22,552 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Wingstop by 29.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,150,217 shares of the restaurant operator’s stock valued at $326,893,000 after buying an additional 262,229 shares during the period. State Street Corp boosted its stake in shares of Wingstop by 1.5% in the third quarter. State Street Corp now owns 861,783 shares of the restaurant operator’s stock valued at $358,571,000 after buying an additional 12,549 shares in the last quarter. Franklin Resources Inc. grew its holdings in Wingstop by 0.9% during the third quarter. Franklin Resources Inc. now owns 816,991 shares of the restaurant operator’s stock worth $326,020,000 after acquiring an additional 7,204 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Wingstop by 23.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 801,732 shares of the restaurant operator’s stock worth $227,852,000 after acquiring an additional 154,055 shares in the last quarter.

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.