Wingstop (NASDAQ:WING) Hits New 12-Month Low – What’s Next?

Wingstop Inc. (NASDAQ:WING)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $218.50 and last traded at $219.70, with a volume of 20479 shares changing hands. The stock had previously closed at $224.29.

Wall Street Analyst Weigh In

Several equities analysts recently commented on WING shares. Benchmark dropped their target price on Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Wedbush dropped their target price on Wingstop from $390.00 to $355.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. BMO Capital Markets dropped their target price on Wingstop from $335.00 to $300.00 and set a “market perform” rating for the company in a research note on Thursday, February 20th. Stifel Nicolaus lowered their price target on Wingstop from $375.00 to $350.00 and set a “buy” rating for the company in a research report on Friday. Finally, The Goldman Sachs Group raised Wingstop from a “neutral” rating to a “buy” rating and lowered their price target for the company from $458.00 to $377.00 in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.67.

Wingstop Price Performance

The stock has a market cap of $6.26 billion, a PE ratio of 59.04, a P/E/G ratio of 2.27 and a beta of 1.81. The business has a fifty day moving average of $281.73 and a 200 day moving average of $334.06.

Wingstop Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop’s dividend payout ratio is currently 29.11%.

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

Insider Activity at Wingstop

In related news, SVP Raj Kapoor sold 266 shares of the 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 owns 266 shares of the company’s stock, valued at approximately $86,285.08. This represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC raised its stake 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 buying an additional 3,507 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in Wingstop by 779.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 18,461 shares of the restaurant operator’s stock valued at $5,247,000 after buying an additional 16,361 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Wingstop during the fourth quarter valued at approximately $10,177,000. Los Angeles Capital Management LLC raised its stake in Wingstop by 475.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 69,234 shares of the restaurant operator’s stock valued at $19,676,000 after buying an additional 57,193 shares in the last quarter. Finally, Conway Capital Management Inc. acquired a new stake in Wingstop during the third quarter valued at approximately $3,544,000.

About Wingstop

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.