Wingstop (NASDAQ:WING) Price Target Cut to $300.00 by Analysts at UBS Group

Wingstop (NASDAQ:WING) had its price objective decreased by UBS Group from $330.00 to $300.00 in a research note released on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the restaurant operator’s stock.

A number of other research analysts have also recently issued reports on the stock. Raymond James restated 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. BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price objective on the stock in a report on Thursday, October 31st. Morgan Stanley reduced their price target on shares of Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a report on Thursday. The Goldman Sachs Group raised Wingstop from a “neutral” rating to a “buy” rating and dropped their price target for the company from $458.00 to $377.00 in a research note on Friday, November 8th. Finally, TD Securities reduced their price target on Wingstop from $365.00 to $305.00 and set a “buy” rating for the company in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Wingstop presently has a consensus rating of “Moderate Buy” and an average target price of $367.05.

Wingstop Price Performance

Shares of NASDAQ:WING opened at $234.02 on Thursday. The company has a 50 day moving average of $288.89 and a 200-day moving average of $340.27. Wingstop has a one year low of $232.19 and a one year high of $433.86. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 63.08, a P/E/G ratio of 2.27 and a beta of 1.81.

Wingstop Announces Dividend

The firm also recently disclosed 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 of this dividend is Friday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. Wingstop’s dividend payout ratio is 29.11%.

Wingstop announced that its board has approved a share 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 buy 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 related news, SVP Raj Kapoor sold 266 shares of Wingstop 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 transaction, the senior vice president now owns 266 shares of the company’s stock, valued at $86,285.08. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Wingstop

Several large investors have recently added to or reduced their stakes in the business. Verdence Capital Advisors LLC boosted its stake in Wingstop by 3.9% during the fourth quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator’s stock worth $256,000 after acquiring an additional 34 shares in the last quarter. Hollencrest Capital Management increased its position in Wingstop by 53.8% in the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock valued at $42,000 after buying an additional 35 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Wingstop by 0.3% in the third quarter. Public Employees Retirement System of Ohio now owns 11,523 shares of the restaurant operator’s stock worth $4,794,000 after acquiring an additional 35 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its position in Wingstop by 62.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock valued at $26,000 after purchasing an additional 35 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in Wingstop by 34.9% during the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock valued at $41,000 after purchasing an additional 37 shares in the last quarter.

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.