Navellier & Associates Inc. Increases Position in Wingstop Inc. (NASDAQ:WING)

Navellier & Associates Inc. lifted its position in shares of Wingstop Inc. (NASDAQ:WING) by 234.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,938 shares of the restaurant operator’s stock after buying an additional 6,967 shares during the quarter. Navellier & Associates Inc.’s holdings in Wingstop were worth $4,135,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Hollencrest Capital Management bought a new stake in Wingstop during the second quarter valued at about $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Wingstop during the 2nd quarter valued at approximately $34,000. Massmutual Trust Co. FSB ADV lifted its holdings in Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after purchasing an additional 35 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in Wingstop by 60.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after purchasing an additional 40 shares during the period. Finally, Blue Trust Inc. grew its holdings in Wingstop by 384.6% during the 3rd quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock valued at $53,000 after buying an additional 100 shares in the last quarter.

Wall Street Analyst Weigh In

WING has been the topic of several research analyst reports. BMO Capital Markets boosted their target price on shares of Wingstop from $345.00 to $360.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. The Goldman Sachs Group raised shares of Wingstop from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $458.00 to $377.00 in a report on Friday, November 8th. Truist Financial raised their price objective on Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Citigroup boosted their target price on Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Finally, Raymond James upgraded Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $368.74.

Wingstop Trading Down 0.7 %

WING stock opened at $333.21 on Thursday. Wingstop Inc. has a 12 month low of $229.27 and a 12 month high of $433.86. The stock has a market cap of $9.73 billion, a PE ratio of 97.14, a P/E/G ratio of 3.13 and a beta of 1.76. The company has a 50-day moving average price of $373.61 and a 200 day moving average price of $383.31.

Wingstop (NASDAQ:WING) last released its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The business had revenue of $162.50 million for the quarter, compared to the consensus estimate of $160.24 million. During the same period in the prior year, the company posted $0.69 EPS. The company’s quarterly revenue was up 38.8% compared to the same quarter last year. Sell-side analysts forecast that Wingstop Inc. will post 3.68 EPS for the current year.

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Friday, November 15th. Wingstop’s payout ratio is presently 31.49%.

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.