Fiera Capital Corp Sells 5,711 Shares of Wingstop Inc. (NASDAQ:WING)

Fiera Capital Corp lessened its stake in Wingstop Inc. (NASDAQ:WING) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 237,003 shares of the restaurant operator’s stock after selling 5,711 shares during the quarter. Fiera Capital Corp’s holdings in Wingstop were worth $67,356,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. FMR LLC raised its stake in shares of Wingstop by 984.7% in the third quarter. FMR LLC now owns 217,946 shares of the restaurant operator’s stock valued at $90,683,000 after buying an additional 197,853 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Wingstop by 392.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 184,068 shares of the restaurant operator’s stock worth $76,587,000 after acquiring an additional 146,692 shares during the last quarter. Eagle Asset Management Inc. raised its stake in Wingstop by 40.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock valued at $193,630,000 after acquiring an additional 134,802 shares during the period. Two Sigma Advisers LP lifted its holdings in Wingstop by 20.5% during the third quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator’s stock valued at $174,095,000 after purchasing an additional 71,300 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in Wingstop by 41,244.9% during the third quarter. International Assets Investment Management LLC now owns 65,325 shares of the restaurant operator’s stock worth $27,180,000 after purchasing an additional 65,167 shares during the period.

Insider Buying and Selling

In related news, SVP Raj Kapoor sold 266 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total transaction of $86,285.08. Following the completion of the sale, the senior vice president now directly owns 266 shares in the company, valued at $86,285.08. This represents a 50.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on WING shares. Morgan Stanley upgraded shares of Wingstop from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $385.00 to $389.00 in a research note on Tuesday, January 21st. Stephens restated an “overweight” rating and set a $468.00 target price on shares of Wingstop in a research report on Thursday, January 2nd. Wedbush reaffirmed an “outperform” rating and issued a $390.00 price target on shares of Wingstop in a report on Tuesday, November 5th. Piper Sandler decreased their price objective on Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Raymond James reissued an “outperform” rating and set a $330.00 price objective (down previously from $375.00) on shares of Wingstop in a report on Tuesday, January 28th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $383.32.

Wingstop Trading Up 1.5 %

Shares of NASDAQ:WING opened at $304.32 on Thursday. The stock has a market capitalization of $8.89 billion, a P/E ratio of 88.72, a price-to-earnings-growth ratio of 2.76 and a beta of 1.81. The stock’s 50-day moving average price is $295.19 and its 200-day moving average price is $344.46. Wingstop Inc. has a 12-month low of $266.45 and a 12-month high of $433.86.

Wingstop announced that its board has initiated a stock buyback program on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to purchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wingstop Company 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.