CIBC Asset Management Inc Buys 47 Shares of Wingstop Inc. (NASDAQ:WING)

CIBC Asset Management Inc raised its position in Wingstop Inc. (NASDAQ:WING) by 5.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 897 shares of the restaurant operator’s stock after buying an additional 47 shares during the period. CIBC Asset Management Inc’s holdings in Wingstop were worth $255,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in WING. FMR LLC lifted its stake in shares of Wingstop by 984.7% during the third quarter. FMR LLC now owns 217,946 shares of the restaurant operator’s stock valued at $90,683,000 after acquiring an additional 197,853 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Wingstop by 392.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 184,068 shares of the restaurant operator’s stock worth $76,587,000 after purchasing an additional 146,692 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in Wingstop by 40.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock worth $193,630,000 after purchasing an additional 134,802 shares during the last quarter. Two Sigma Advisers LP lifted its position in Wingstop by 20.5% during the 3rd quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator’s stock valued at $174,095,000 after purchasing an additional 71,300 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of Wingstop by 41,244.9% in the 3rd quarter. International Assets Investment Management LLC now owns 65,325 shares of the restaurant operator’s stock valued at $27,180,000 after purchasing an additional 65,167 shares during the last quarter.

Wingstop Stock Up 1.1 %

Shares of NASDAQ:WING opened at $236.51 on Tuesday. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 63.75, a PEG ratio of 2.27 and a beta of 1.81. Wingstop Inc. has a 12 month low of $232.19 and a 12 month high of $433.86. The company’s fifty day simple moving average is $287.62 and its 200 day simple moving average is $339.19.

Wingstop Announces Dividend

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

Wingstop announced that its board has initiated a share buyback plan on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to purchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets dropped their price target on shares of Wingstop from $335.00 to $300.00 and set a “market perform” rating for the company in a research note on Thursday, February 20th. Stephens reiterated an “overweight” rating and set a $450.00 target price on shares of Wingstop in a research report on Wednesday, February 19th. Piper Sandler reduced their price target on Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Wedbush dropped their price objective on Wingstop from $390.00 to $355.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Finally, TD Securities cut their target price on Wingstop from $365.00 to $305.00 and set a “buy” rating on the stock in a research note 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $362.90.

Insider Transactions at Wingstop

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

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.