King Luther Capital Management Corp Purchases 1,635 Shares of Wingstop Inc. (NASDAQ:WING)

King Luther Capital Management Corp raised its position in shares of Wingstop Inc. (NASDAQ:WING) by 10.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,424 shares of the restaurant operator’s stock after purchasing an additional 1,635 shares during the period. King Luther Capital Management Corp owned about 0.06% of Wingstop worth $4,952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in WING. Assetmark Inc. raised its holdings in shares of Wingstop by 9.6% in the third quarter. Assetmark Inc. now owns 8,980 shares of the restaurant operator’s stock valued at $3,736,000 after acquiring an additional 788 shares in the last quarter. Mesirow Financial Investment Management Inc. purchased a new position in Wingstop during the 3rd quarter valued at about $260,000. Axxcess Wealth Management LLC bought a new stake in shares of Wingstop in the 3rd quarter valued at about $485,000. Crossmark Global Holdings Inc. lifted its position in shares of Wingstop by 17.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,326 shares of the restaurant operator’s stock worth $968,000 after purchasing an additional 352 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Wingstop by 28.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,770 shares of the restaurant operator’s stock valued at $1,153,000 after purchasing an additional 620 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Guggenheim upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 target price for the company in a report on Monday, February 24th. Stifel Nicolaus cut their price target on shares of Wingstop from $375.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Raymond James reiterated an “outperform” rating and set a $330.00 price objective (down previously from $375.00) on shares of Wingstop in a report on Tuesday, January 28th. UBS Group dropped their target price on Wingstop from $330.00 to $300.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Finally, TD Securities lowered their price target on Wingstop from $365.00 to $305.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $357.67.

Wingstop Stock Up 2.8 %

Shares of WING stock opened at $219.35 on Thursday. Wingstop Inc. has a 52-week low of $207.53 and a 52-week high of $433.86. The stock has a market cap of $6.29 billion, a PE ratio of 59.12, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88. The business has a 50-day simple moving average of $272.47 and a 200-day simple moving average of $326.37.

Wingstop declared that its board has authorized a stock repurchase plan on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the restaurant operator to repurchase up to 5.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop’s payout ratio is presently 29.11%.

About Wingstop

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.