Pictet Asset Management Holding SA Buys 451 Shares of Wingstop Inc. (NASDAQ:WING)

Pictet Asset Management Holding SA grew its position in Wingstop Inc. (NASDAQ:WING) by 11.9% in the fourth quarter, Holdings Channel reports. The fund owned 4,229 shares of the restaurant operator’s stock after acquiring an additional 451 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Wingstop were worth $1,202,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Verdence Capital Advisors LLC raised its position in Wingstop by 3.9% in the fourth quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator’s stock valued at $256,000 after purchasing an additional 34 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Wingstop by 0.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,523 shares of the restaurant operator’s stock worth $4,794,000 after buying an additional 35 shares during the period. CBIZ Investment Advisory Services LLC grew its holdings in Wingstop by 62.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after acquiring an additional 35 shares during the last quarter. V Square Quantitative Management LLC increased its position in Wingstop by 34.9% in the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock valued at $41,000 after acquiring an additional 37 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Wingstop by 0.5% during the fourth quarter. Arizona State Retirement System now owns 8,499 shares of the restaurant operator’s stock valued at $2,415,000 after acquiring an additional 42 shares during the last quarter.

Wingstop Stock Performance

WING stock opened at $232.36 on Friday. The business has a 50-day simple moving average of $252.80 and a two-hundred day simple moving average of $306.70. The company has a market capitalization of $6.48 billion, a P/E ratio of 62.63, a price-to-earnings-growth ratio of 2.27 and a beta of 2.01. Wingstop Inc. has a 52-week low of $205.60 and a 52-week high of $433.86.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.46%. Wingstop’s dividend payout ratio (DPR) is currently 29.11%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Guggenheim upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price objective for the company in a report on Monday, February 24th. BMO Capital Markets decreased their price target on Wingstop from $335.00 to $300.00 and set a “market perform” rating for the company in a research note on Thursday, February 20th. TD Securities reduced their target price on Wingstop from $365.00 to $305.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Wedbush lowered their price target on shares of Wingstop from $390.00 to $355.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Finally, Morgan Stanley reduced their price objective on shares of Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Wingstop currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.73.

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.