Meeder Asset Management Inc. Buys Shares of 1,011 Wingstop Inc. (NASDAQ:WING)

Meeder Asset Management Inc. purchased a new position in shares of Wingstop Inc. (NASDAQ:WING) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,011 shares of the restaurant operator’s stock, valued at approximately $421,000.

Other hedge funds have also modified their holdings of the company. Hollencrest Capital Management acquired a new position in Wingstop in the second quarter valued at about $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Wingstop in the 2nd quarter valued at approximately $34,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after acquiring an additional 35 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of Wingstop by 60.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after purchasing an additional 40 shares during the period. Finally, Blue Trust Inc. increased its holdings in Wingstop by 384.6% in the 3rd quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock valued at $53,000 after purchasing an additional 100 shares during the last quarter.

Wingstop Stock Up 2.7 %

WING stock opened at $335.58 on Wednesday. The business has a 50 day moving average price of $374.77 and a 200 day moving average price of $383.66. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 97.84, a PEG ratio of 3.04 and a beta of 1.76. Wingstop Inc. has a fifty-two week low of $227.54 and a fifty-two week high of $433.86.

Wingstop (NASDAQ:WING) last issued 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). Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The company had revenue of $162.50 million for the quarter, compared to analysts’ expectations of $160.24 million. During the same quarter in the prior year, the firm posted $0.69 EPS. The firm’s quarterly revenue was up 38.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wingstop Inc. will post 3.68 EPS for the current year.

Wingstop Dividend Announcement

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 dividend yield of 0.32%. The ex-dividend date is Friday, November 15th. Wingstop’s payout ratio is 31.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. The Goldman Sachs Group upgraded Wingstop from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $458.00 to $377.00 in a research note on Friday, November 8th. BMO Capital Markets raised their target price on Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. TD Cowen dropped their target price on Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Piper Sandler lowered their price objective on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, Citigroup lifted their price objective on shares of Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Wingstop has a consensus rating of “Moderate Buy” and a consensus price target of $368.74.

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.