State of New Jersey Common Pension Fund D Sells 238 Shares of Wingstop Inc. (NASDAQ:WING)

State of New Jersey Common Pension Fund D decreased its stake in Wingstop Inc. (NASDAQ:WING) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,042 shares of the restaurant operator’s stock after selling 238 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Wingstop were worth $3,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC boosted 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 purchasing an additional 3,507 shares during the last quarter. Conway Capital Management Inc. acquired a new stake in shares of Wingstop in the 3rd quarter valued at approximately $3,544,000. Los Angeles Capital Management LLC acquired a new stake in shares of Wingstop in the 3rd quarter valued at approximately $5,010,000. Eagle Asset Management Inc. grew its stake in shares of Wingstop by 40.8% in the third quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock valued at $193,630,000 after buying an additional 134,802 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Wingstop during the third quarter worth $874,000.

Analyst Ratings Changes

A number of brokerages have recently commented on WING. The Goldman Sachs Group raised shares of Wingstop from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $458.00 to $377.00 in a research report on Friday, November 8th. BTIG Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price target on the stock in a research report on Thursday, October 31st. Wedbush restated an “outperform” rating and issued a $390.00 price objective on shares of Wingstop in a research note on Tuesday, November 5th. TD Cowen reduced their target price on Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Raymond James restated an “outperform” rating and issued a $330.00 price target (down previously from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $384.72.

Wingstop Stock Down 13.4 %

Shares of NASDAQ:WING opened at $265.02 on Thursday. Wingstop Inc. has a 12-month low of $258.50 and a 12-month high of $433.86. The company’s 50 day moving average price is $291.76 and its two-hundred day moving average price is $341.94. The firm has a market cap of $7.74 billion, a PE ratio of 77.27, a PEG ratio of 2.74 and a beta of 1.81.

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

Insider Buying and Selling

In other Wingstop news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $324.38, for a total value of $86,285.08. Following the completion of the transaction, the senior vice president now directly owns 266 shares of the company’s stock, valued at $86,285.08. The trade was a 50.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.36% of the stock is currently owned by company insiders.

Wingstop 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.