Bank of New York Mellon Corp Has $68.95 Million Holdings in Wingstop Inc. (NASDAQ:WING)

Bank of New York Mellon Corp decreased its holdings in Wingstop Inc. (NASDAQ:WING) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 242,598 shares of the restaurant operator’s stock after selling 7,766 shares during the period. Bank of New York Mellon Corp’s holdings in Wingstop were worth $68,946,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of WING. State Street Corp grew its position in shares of Wingstop by 1.5% in the 3rd quarter. State Street Corp now owns 861,783 shares of the restaurant operator’s stock valued at $358,571,000 after buying an additional 12,549 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Wingstop by 0.9% in the third quarter. Franklin Resources Inc. now owns 816,991 shares of the restaurant operator’s stock worth $326,020,000 after acquiring an additional 7,204 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Wingstop by 7.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 647,677 shares of the restaurant operator’s stock valued at $269,485,000 after acquiring an additional 46,772 shares during the last quarter. Eagle Asset Management Inc. increased its position in Wingstop by 40.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock valued at $193,630,000 after purchasing an additional 134,802 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in Wingstop by 20.5% during the 3rd quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator’s stock worth $174,095,000 after purchasing an additional 71,300 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WING shares. Morgan Stanley decreased their price objective on shares of Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Northcoast Research downgraded Wingstop from a “buy” rating to a “neutral” rating in a report on Friday, February 21st. TD Securities dropped their price objective on Wingstop from $365.00 to $305.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Guggenheim raised Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 target price for the company in a research note on Monday, February 24th. Finally, BMO Capital Markets lowered their target price on Wingstop from $335.00 to $300.00 and set a “market perform” rating for the company in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $357.67.

Wingstop Stock Performance

WING stock opened at $224.29 on Tuesday. The company has a market capitalization of $6.43 billion, a P/E ratio of 60.46, a price-to-earnings-growth ratio of 2.27 and a beta of 1.81. Wingstop Inc. has a 52-week low of $219.12 and a 52-week high of $433.86. The business has a 50-day simple moving average of $281.73 and a two-hundred day simple moving average of $334.06.

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.48%. Wingstop’s dividend payout ratio (DPR) is currently 29.11%.

Wingstop declared that its Board of Directors has authorized a share repurchase program on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Wingstop

In related news, SVP Raj Kapoor sold 266 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $324.38, for a total transaction of $86,285.08. Following the transaction, the senior vice president now directly owns 266 shares in the company, valued at approximately $86,285.08. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.36% of the stock is currently owned by insiders.

Wingstop 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.