EFG Asset Management North America Corp. Acquires 1,671 Shares of Wingstop Inc. (NASDAQ:WING)

EFG Asset Management North America Corp. raised its stake in shares of Wingstop Inc. (NASDAQ:WING) by 26.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,095 shares of the restaurant operator’s stock after acquiring an additional 1,671 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Wingstop were worth $2,299,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its position in Wingstop by 521.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 73 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its position in shares of Wingstop by 62.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 35 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Wingstop in the 4th quarter valued at about $30,000. True Wealth Design LLC purchased a new position in shares of Wingstop in the 3rd quarter worth approximately $36,000. Finally, V Square Quantitative Management LLC raised its stake in shares of Wingstop by 34.9% during the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock worth $41,000 after acquiring an additional 37 shares in the last quarter.

Analyst Ratings Changes

WING has been the subject of several recent analyst reports. Raymond James restated an “outperform” rating and issued a $330.00 target price (down from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Barclays dropped their target price on Wingstop from $359.00 to $315.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Morgan Stanley decreased their price target on Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Guggenheim upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price target on the stock in a research note on Monday, February 24th. Finally, Benchmark lowered their target price on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $357.67.

Wingstop Stock Performance

Shares of NASDAQ WING opened at $220.08 on Wednesday. The company has a market capitalization of $6.31 billion, a PE ratio of 59.32, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88. The company’s fifty day moving average price is $260.38 and its 200 day moving average price is $315.24. Wingstop Inc. has a 1 year low of $205.60 and a 1 year high of $433.86.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop’s payout ratio is currently 29.11%.

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

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.