Ieq Capital LLC Has $5.06 Million Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Ieq Capital LLC raised its stake in shares of Wingstop Inc. (NASDAQ:WING) by 777.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,789 shares of the restaurant operator’s stock after purchasing an additional 15,761 shares during the period. Ieq Capital LLC owned 0.06% of Wingstop worth $5,056,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new position in Wingstop during the third quarter valued at approximately $36,000. Hollencrest Capital Management grew its holdings in Wingstop by 53.8% during the third quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 35 shares during the last quarter. Blue Trust Inc. grew its holdings in Wingstop by 384.6% during the third 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. V Square Quantitative Management LLC grew its holdings in Wingstop by 34.9% during the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock valued at $41,000 after purchasing an additional 37 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Wingstop in the fourth quarter worth $71,000.

Wingstop Stock Performance

Shares of NASDAQ WING opened at $234.02 on Friday. The stock has a market cap of $6.84 billion, a PE ratio of 63.08, a PEG ratio of 2.38 and a beta of 1.81. The business has a fifty day moving average of $288.89 and a two-hundred day moving average of $340.46. Wingstop Inc. has a 52-week low of $232.19 and a 52-week high of $433.86.

Wingstop declared that its board has initiated a share buyback plan on Thursday, December 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the restaurant operator to purchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Wingstop Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, March 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.46%. Wingstop’s payout ratio is presently 29.11%.

Insider Buying and Selling at Wingstop

In related news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

WING has been the topic of several research analyst reports. Piper Sandler lowered their price objective on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Benchmark lowered their price objective on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating on the stock in a research note on Thursday. Barclays lowered their price objective on shares of Wingstop from $359.00 to $315.00 and set an “overweight” rating on the stock in a research note on Thursday. BTIG Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price objective on the stock in a research note on Thursday, October 31st. Finally, BMO Capital Markets lowered their price objective on shares of Wingstop from $335.00 to $300.00 and set a “market perform” rating on the stock in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Wingstop has a consensus rating of “Moderate Buy” and an average price target of $367.05.

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.