Bridgewater Associates LP Has $10.89 Million Stock Position in Wingstop Inc. (NASDAQ:WING)

Bridgewater Associates LP cut its holdings in Wingstop Inc. (NASDAQ:WING) by 35.8% during the third quarter, Holdings Channel.com reports. The firm owned 26,181 shares of the restaurant operator’s stock after selling 14,625 shares during the quarter. Bridgewater Associates LP’s holdings in Wingstop were worth $10,893,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Janus Henderson Group PLC increased its stake in Wingstop by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 16,442 shares of the restaurant operator’s stock valued at $6,020,000 after buying an additional 81 shares during the last quarter. Tidal Investments LLC bought a new stake in Wingstop during the first quarter worth about $1,248,000. Cetera Advisors LLC acquired a new position in Wingstop during the first quarter valued at approximately $307,000. GAMMA Investing LLC grew its stake in Wingstop by 136.5% in the second quarter. GAMMA Investing LLC now owns 272 shares of the restaurant operator’s stock valued at $115,000 after purchasing an additional 157 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of Wingstop by 60.3% during 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 during the last quarter.

Wingstop Stock Down 2.2 %

Shares of NASDAQ:WING opened at $331.27 on Friday. Wingstop Inc. has a 12-month low of $232.88 and a 12-month high of $433.86. The company’s 50 day moving average price is $366.68 and its two-hundred day moving average price is $381.26. The firm has a market cap of $9.68 billion, a PE ratio of 96.58, a PEG ratio of 3.09 and a beta of 1.76.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). The company had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The company’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS. On average, research analysts expect 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. Investors of record on Friday, November 15th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Friday, November 15th. Wingstop’s payout ratio is currently 31.49%.

Wall Street Analyst Weigh In

Several research firms have recently commented on WING. Truist Financial increased their price objective on Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Benchmark raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price objective for the company in a research report on Thursday, October 31st. Stephens dropped their target price on shares of Wingstop from $490.00 to $468.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Citigroup lifted their price target on Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Finally, BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price objective on the stock in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $368.74.

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.