Wingstop (NASDAQ:WING) Sets New 12-Month Low – What’s Next?

Wingstop Inc. (NASDAQ:WING)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $231.28 and last traded at $232.35, with a volume of 142446 shares trading hands. The stock had previously closed at $236.51.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays lowered their target price on Wingstop from $359.00 to $315.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Piper Sandler cut their price target 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. Northcoast Research lowered shares of Wingstop from a “buy” rating to a “neutral” rating in a research note on Friday. 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. Finally, Stephens reaffirmed an “overweight” rating and issued a $450.00 target price on shares of Wingstop in a report on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $362.90.

Wingstop Trading Down 0.4 %

The company has a market capitalization of $6.75 billion, a P/E ratio of 63.58, a P/E/G ratio of 2.27 and a beta of 1.81. The company’s fifty day moving average is $287.62 and its 200 day moving average is $339.19.

Wingstop Dividend Announcement

The business 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop’s payout ratio is currently 29.11%.

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

Insider Buying and Selling at Wingstop

In other news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total transaction of $86,285.08. Following the completion of the sale, the senior vice president now directly 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 legal filing with the SEC, which is accessible through this link. Insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Verdence Capital Advisors LLC lifted its position in shares of Wingstop by 3.9% in the 4th quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator’s stock worth $256,000 after purchasing an additional 34 shares during the period. Hollencrest Capital Management boosted its holdings in shares of Wingstop by 53.8% during the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock valued at $42,000 after buying an additional 35 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Wingstop by 0.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,523 shares of the restaurant operator’s stock worth $4,794,000 after buying an additional 35 shares during the period. CBIZ Investment Advisory Services LLC increased its stake in shares of Wingstop by 62.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after acquiring an additional 35 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its stake in shares of Wingstop by 34.9% during the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock valued at $41,000 after purchasing an additional 37 shares in the last quarter.

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.