Navellier & Associates Inc. Sells 1,528 Shares of Wingstop Inc. (NASDAQ:WING)

Navellier & Associates Inc. trimmed its holdings in Wingstop Inc. (NASDAQ:WING) by 15.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,410 shares of the restaurant operator’s stock after selling 1,528 shares during the period. Navellier & Associates Inc.’s holdings in Wingstop were worth $2,390,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WING. SG Americas Securities LLC boosted its holdings in shares of Wingstop by 277.5% during the 4th quarter. SG Americas Securities LLC now owns 4,771 shares of the restaurant operator’s stock worth $1,356,000 after buying an additional 3,507 shares during the period. Conway Capital Management Inc. bought a new stake in shares of Wingstop during the 3rd quarter worth $3,544,000. Los Angeles Capital Management LLC bought a new stake in shares of Wingstop during the 3rd quarter worth $5,010,000. Eagle Asset Management Inc. boosted its holdings in shares of Wingstop by 40.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock worth $193,630,000 after buying an additional 134,802 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Wingstop during the 3rd quarter worth $874,000.

Wingstop Stock Down 5.3 %

Shares of Wingstop stock opened at $234.02 on Friday. The stock has a market capitalization of $6.71 billion, a P/E ratio of 63.08, a price-to-earnings-growth ratio of 2.27 and a beta of 1.81. The company has a 50-day simple moving average of $288.89 and a 200 day simple moving average of $340.46. Wingstop Inc. has a 12-month low of $232.19 and a 12-month high of $433.86.

Wingstop Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop’s dividend payout ratio (DPR) is currently 29.11%.

Wingstop announced that its board has authorized a stock repurchase plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the restaurant operator to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Wingstop from $359.00 to $315.00 and set an “overweight” rating for the company in a report on Thursday. BMO Capital Markets reduced their price target on shares of Wingstop from $335.00 to $300.00 and set a “market perform” rating for the company in a report on Thursday. Benchmark reduced their price target on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a report on Thursday. UBS Group reduced their price target on shares of Wingstop from $330.00 to $300.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Wedbush reduced their price target on shares of Wingstop from $390.00 to $355.00 and set an “outperform” rating for the company in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $367.05.

Insider Buying and Selling at Wingstop

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $324.38, for a total value of $86,285.08. Following the completion of the sale, the senior vice president now owns 266 shares in the company, valued at approximately $86,285.08. This trade represents a 50.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.36% of the company’s stock.

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.