New Age Alpha Advisors LLC Invests $1.77 Million in Wingstop Inc. (NASDAQ:WING)

New Age Alpha Advisors LLC acquired a new position in shares of Wingstop Inc. (NASDAQ:WING) during the 4th quarter, Holdings Channel.com reports. The fund acquired 6,212 shares of the restaurant operator’s stock, valued at approximately $1,765,000.

Several other hedge funds have also bought and sold shares of WING. Citigroup Inc. raised its position in shares of Wingstop by 138.6% in the 3rd quarter. Citigroup Inc. now owns 14,921 shares of the restaurant operator’s stock worth $6,208,000 after purchasing an additional 53,542 shares during the last quarter. FMR LLC raised its holdings in Wingstop by 984.7% in the third quarter. FMR LLC now owns 217,946 shares of the restaurant operator’s stock worth $90,683,000 after buying an additional 197,853 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Wingstop by 364.5% in the third quarter. BNP Paribas Financial Markets now owns 13,330 shares of the restaurant operator’s stock worth $5,546,000 after buying an additional 10,460 shares in the last quarter. Freedom Investment Management Inc. bought a new stake in shares of Wingstop during the third quarter valued at approximately $351,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Wingstop during the third quarter valued at approximately $1,802,000.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WING. Morgan Stanley cut their target price on Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Stephens reiterated an “overweight” rating and issued a $450.00 price objective on shares of Wingstop in a report on Wednesday, February 19th. Guggenheim raised Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 target price for the company in a research report on Monday, February 24th. Barclays reduced their price target on shares of Wingstop from $359.00 to $315.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Finally, UBS Group lowered their price objective on shares of Wingstop from $330.00 to $300.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $353.68.

Wingstop Price Performance

WING opened at $224.00 on Monday. The company has a 50 day simple moving average of $257.45 and a two-hundred day simple moving average of $311.98. The firm has a market cap of $6.25 billion, a P/E ratio of 60.38, a PEG ratio of 2.27 and a beta of 1.88. 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 was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Friday, March 7th. Wingstop’s dividend payout ratio is currently 29.11%.

Wingstop declared that its Board of Directors has approved a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership 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.