Teacher Retirement System of Texas Increases Position in Wingstop Inc. (NASDAQ:WING)

Teacher Retirement System of Texas lifted its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 37.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,200 shares of the restaurant operator’s stock after acquiring an additional 3,892 shares during the quarter. Teacher Retirement System of Texas’ holdings in Wingstop were worth $4,036,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Proficio Capital Partners LLC purchased a new stake in shares of Wingstop during the 4th quarter valued at $10,177,000. SG Americas Securities LLC grew its position in Wingstop by 277.5% during the fourth quarter. SG Americas Securities LLC now owns 4,771 shares of the restaurant operator’s stock valued at $1,356,000 after buying an additional 3,507 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in Wingstop by 779.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 18,461 shares of the restaurant operator’s stock worth $5,247,000 after buying an additional 16,361 shares during the last quarter. Los Angeles Capital Management LLC raised its position in 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 period. Finally, Conway Capital Management Inc. purchased a new position in Wingstop in the third quarter valued at about $3,544,000.

Wall Street Analyst Weigh In

A number of research firms recently commented on WING. BMO Capital Markets lowered their price target on shares of Wingstop from $335.00 to $300.00 and set a “market perform” rating on the stock in a report on Thursday, February 20th. Stifel Nicolaus lowered their target price on Wingstop from $375.00 to $350.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Wedbush cut their price target on Wingstop from $390.00 to $355.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. TD Securities lowered their price objective 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, UBS Group cut their target price on shares of Wingstop from $330.00 to $300.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $357.67.

Wingstop Trading Up 3.3 %

Shares of NASDAQ WING opened at $222.62 on Tuesday. The business has a 50-day moving average of $261.44 and a 200-day moving average of $316.24. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 60.01, a PEG ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a 12 month low of $205.60 and a 12 month high of $433.86.

Wingstop declared that its Board of Directors has initiated 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 purchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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 0.49%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop’s payout ratio is 29.11%.

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.