Meeder Asset Management Inc. Sells 780 Shares of Wingstop Inc. (NASDAQ:WING)

Meeder Asset Management Inc. lowered its position in Wingstop Inc. (NASDAQ:WING) by 77.2% during the 4th quarter, Holdings Channel reports. The firm owned 231 shares of the restaurant operator’s stock after selling 780 shares during the quarter. Meeder Asset Management Inc.’s holdings in Wingstop were worth $66,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Verdence Capital Advisors LLC lifted its holdings in shares of Wingstop by 3.9% in the 4th quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator’s stock worth $256,000 after buying an additional 34 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Wingstop by 0.3% in the third quarter. Public Employees Retirement System of Ohio now owns 11,523 shares of the restaurant operator’s stock worth $4,794,000 after acquiring an additional 35 shares during the period. CBIZ Investment Advisory Services LLC grew its holdings in Wingstop by 62.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after acquiring an additional 35 shares in the last quarter. V Square Quantitative Management LLC increased its position in Wingstop by 34.9% during the 4th 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 period. Finally, Arizona State Retirement System raised its holdings in shares of Wingstop by 0.5% in the 4th quarter. Arizona State Retirement System now owns 8,499 shares of the restaurant operator’s stock valued at $2,415,000 after purchasing an additional 42 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Raymond James reiterated an “outperform” rating and set a $330.00 price objective (down from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Benchmark dropped their target price on Wingstop from $340.00 to $325.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Barclays reduced their price target on Wingstop from $359.00 to $315.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Morgan Stanley dropped their price objective on Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Finally, BMO Capital Markets reduced their target price on shares of Wingstop from $335.00 to $300.00 and set a “market perform” rating for the company in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Wingstop currently has a consensus rating of “Moderate Buy” and an average target price of $350.73.

Wingstop Trading Up 4.8 %

Shares of NASDAQ:WING opened at $236.40 on Wednesday. Wingstop Inc. has a twelve month low of $205.60 and a twelve month high of $433.86. The company has a market cap of $6.60 billion, a PE ratio of 63.72, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88. The company’s 50 day moving average is $255.62 and its 200 day moving average is $309.67.

Wingstop Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. Wingstop’s dividend payout ratio (DPR) is presently 29.11%.

Wingstop announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to repurchase up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board 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.