Summit Global Investments Makes New $3.33 Million Investment in Wingstop Inc. (NASDAQ:WING)

Summit Global Investments acquired a new position in Wingstop Inc. (NASDAQ:WING) during the third quarter, HoldingsChannel.com reports. The fund acquired 8,013 shares of the restaurant operator’s stock, valued at approximately $3,334,000.

Several other institutional investors and hedge funds have also bought and sold shares of WING. Hollencrest Capital Management purchased a new stake in Wingstop in the 2nd quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Wingstop during the second quarter worth approximately $34,000. Massmutual Trust Co. FSB ADV raised its position in shares of Wingstop by 60.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after buying an additional 35 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Wingstop by 60.6% in the third quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock valued at $44,000 after purchasing an additional 40 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Wingstop by 384.6% during the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock worth $53,000 after purchasing an additional 100 shares during the last quarter.

Wingstop Stock Performance

NASDAQ:WING opened at $331.89 on Friday. Wingstop Inc. has a 52-week low of $204.01 and a 52-week high of $433.86. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 96.76, a PEG ratio of 2.94 and a beta of 1.76. The firm’s 50-day moving average is $381.45 and its 200-day moving average is $385.89.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.09). The company had revenue of $162.50 million during the quarter, compared to the consensus estimate of $160.24 million. Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The company’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 earnings per share. Equities analysts predict that Wingstop Inc. will post 3.68 EPS for the current year.

Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Friday, November 15th. Wingstop’s dividend payout ratio is 31.49%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WING. Truist Financial boosted their price target on shares of Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Benchmark raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 target price on the stock in a report on Thursday, October 31st. Barclays lowered their price objective on Wingstop from $470.00 to $380.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Piper Sandler dropped their price objective on Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Raymond James raised Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Wingstop presently has a consensus rating of “Moderate Buy” and an average target price of $368.74.

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.