Bridges Investment Management Inc. Has $222,000 Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Bridges Investment Management Inc. raised its stake in shares of Wingstop Inc. (NASDAQ:WING) by 52.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 781 shares of the restaurant operator’s stock after purchasing an additional 268 shares during the period. Bridges Investment Management Inc.’s holdings in Wingstop were worth $222,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WING. FMR LLC grew its holdings in 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 purchasing an additional 197,853 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Wingstop by 392.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 184,068 shares of the restaurant operator’s stock valued at $76,587,000 after purchasing an additional 146,692 shares during the last quarter. Eagle Asset Management Inc. grew its stake in shares of Wingstop by 40.8% in the third quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock worth $193,630,000 after acquiring an additional 134,802 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Wingstop by 20.5% in the third quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator’s stock worth $174,095,000 after acquiring an additional 71,300 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of Wingstop by 475.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 69,234 shares of the restaurant operator’s stock worth $19,676,000 after acquiring an additional 57,193 shares during the last quarter.

Wingstop Stock Performance

Shares of NASDAQ WING opened at $224.29 on Tuesday. The stock has a market cap of $6.43 billion, a PE ratio of 60.46, a PEG ratio of 2.27 and a beta of 1.81. The business has a fifty day moving average of $281.73 and a two-hundred day moving average of $334.06. Wingstop Inc. has a 52-week low of $219.12 and a 52-week high of $433.86.

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

Wingstop Dividend Announcement

The firm 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 $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 0.48%. Wingstop’s dividend payout ratio is 29.11%.

Insider Activity at Wingstop

In related news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $324.38, for a total value of $86,285.08. Following the completion of the transaction, the senior vice president now directly owns 266 shares of the company’s stock, valued at $86,285.08. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.36% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WING shares. Guggenheim upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price objective on the stock in a research note on Monday, February 24th. Northcoast Research downgraded shares of Wingstop from a “buy” rating to a “neutral” rating in a research note on Friday, February 21st. Raymond James restated an “outperform” rating and issued a $330.00 price objective (down previously from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Stifel Nicolaus lowered their price objective on shares of Wingstop from $375.00 to $350.00 and set a “buy” rating on the stock in a research note on Friday. Finally, TD Securities lowered their price objective on shares of 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 issued a buy rating to the company’s stock. According to MarketBeat.com, Wingstop has an average rating of “Moderate Buy” and an average price target of $357.67.

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.