Whittier Trust Co. Acquires 590 Shares of Wingstop Inc. (NASDAQ:WING)

Whittier Trust Co. lifted its holdings in Wingstop Inc. (NASDAQ:WING) by 2.8% during the fourth quarter, HoldingsChannel reports. The firm owned 21,474 shares of the restaurant operator’s stock after purchasing an additional 590 shares during the period. Whittier Trust Co.’s holdings in Wingstop were worth $6,102,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in Wingstop during the third quarter valued at about $36,000. EverSource Wealth Advisors LLC increased its stake 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 acquiring an additional 73 shares during the period. CBIZ Investment Advisory Services LLC increased its stake in 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 acquiring an additional 35 shares during the period. SBI Securities Co. Ltd. bought a new position in Wingstop during the fourth quarter valued at about $30,000. Finally, V Square Quantitative Management LLC increased its stake in 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 acquiring an additional 37 shares during the period.

Wingstop Price Performance

Shares of WING opened at $220.19 on Friday. The business’s 50 day simple moving average is $263.70 and its 200-day simple moving average is $319.30. Wingstop Inc. has a one year low of $205.60 and a one year high of $433.86. The company has a market capitalization of $6.31 billion, a P/E ratio of 59.35, a PEG ratio of 2.27 and a beta of 1.88.

Wingstop declared that its board has authorized 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 a sign that the company’s board of directors believes its stock is undervalued.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop’s dividend payout ratio (DPR) is presently 29.11%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Benchmark lowered their price target on Wingstop from $340.00 to $325.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Stephens reaffirmed an “overweight” rating and set a $450.00 price objective on shares of Wingstop in a report on Wednesday, February 19th. BMO Capital Markets decreased their price objective on Wingstop from $335.00 to $300.00 and set a “market perform” rating on the stock in a report on Thursday, February 20th. TD Securities decreased their price objective on Wingstop from $365.00 to $305.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Finally, Wedbush decreased their price objective on Wingstop from $390.00 to $355.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $357.67.

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.