Wingstop (NASDAQ:WING) Price Target Cut to $305.00 by Analysts at TD Securities

Wingstop (NASDAQ:WING) had its price objective trimmed by TD Securities from $365.00 to $305.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

A number of other equities research analysts also recently weighed in on the stock. Benchmark raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 target price on the stock in a research note on Thursday, October 31st. Piper Sandler cut their target price on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Raymond James reaffirmed an “outperform” rating and issued a $330.00 price target (down previously from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. The Goldman Sachs Group raised Wingstop from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $458.00 to $377.00 in a research report on Friday, November 8th. Finally, TD Cowen lowered their price target on Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $367.05.

Wingstop Stock Down 5.3 %

NASDAQ WING opened at $234.02 on Thursday. Wingstop has a 52 week low of $232.19 and a 52 week high of $433.86. The company has a market cap of $6.71 billion, a PE ratio of 63.08, a price-to-earnings-growth ratio of 2.27 and a beta of 1.81. The firm’s 50-day simple moving average is $288.89 and its two-hundred day simple moving average is $340.27.

Wingstop Dividend Announcement

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

Wingstop announced that its Board of Directors has initiated a stock buyback program on Thursday, December 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the restaurant operator to purchase up to 5.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Wingstop

In other news, SVP Raj Kapoor sold 266 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $324.38, for a total transaction of $86,285.08. Following the transaction, the senior vice president now owns 266 shares of the company’s stock, valued at approximately $86,285.08. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Wingstop

Hedge funds have recently bought and sold shares of the business. Alyeska Investment Group L.P. bought a new position in shares of Wingstop during the 4th quarter worth $151,802,000. Raymond James Financial Inc. purchased a new stake in Wingstop in the fourth quarter valued at about $115,301,000. Norges Bank purchased a new stake in Wingstop in the fourth quarter valued at about $106,123,000. Ameriprise Financial Inc. raised its stake in shares of Wingstop by 760.9% in the fourth quarter. Ameriprise Financial Inc. now owns 381,745 shares of the restaurant operator’s stock worth $108,497,000 after purchasing an additional 337,401 shares during the last quarter. Finally, Champlain Investment Partners LLC purchased a new position in shares of Wingstop in the fourth quarter worth about $77,855,000.

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.