Wingstop Inc (WING) Holdings Boosted by Arizona State Retirement System
Arizona State Retirement System raised its stake in Wingstop Inc (NASDAQ:WING) by 226.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,901 shares of the restaurant operator’s stock after purchasing an additional 33,901 shares during the period. Arizona State Retirement System’s holdings in Wingstop were worth $1,906,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Turner Investments LLC purchased a new position in Wingstop in the third quarter valued at approximately $150,000. First Mercantile Trust Co. purchased a new position in Wingstop in the fourth quarter valued at approximately $223,000. Fortaleza Asset Management Inc. increased its stake in Wingstop by 71.0% in the fourth quarter. Fortaleza Asset Management Inc. now owns 5,960 shares of the restaurant operator’s stock valued at $232,000 after purchasing an additional 2,475 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in Wingstop in the third quarter valued at approximately $210,000. Finally, Parametric Portfolio Associates LLC purchased a new position in Wingstop in the second quarter valued at approximately $263,000.
Wingstop Inc (WING) opened at $48.12 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of -2.69. The stock has a market cap of $1,400.00 and a P/E ratio of 65.03. Wingstop Inc has a 1 year low of $25.37 and a 1 year high of $49.69.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Thursday, March 8th. Wingstop’s dividend payout ratio is presently 28.38%.
In related news, Chairman Charles R. Morrison sold 1,476 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $48.13, for a total transaction of $71,039.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Flynn Dekker sold 10,000 shares of the stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $45.60, for a total value of $456,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,301 shares of company stock valued at $563,603. Corporate insiders own 1.76% of the company’s stock.
Several equities analysts have commented on WING shares. Deutsche Bank assumed coverage on shares of Wingstop in a research note on Monday, December 18th. They issued a “hold” rating and a $38.00 price target on the stock. Robert W. Baird lowered shares of Wingstop from an “outperform” rating to a “neutral” rating in a research report on Tuesday, February 20th. Wedbush lowered shares of Wingstop from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $36.00 to $40.00 in a research report on Friday, January 5th. Zacks Investment Research upgraded shares of Wingstop from a “hold” rating to a “strong-buy” rating and set a $55.00 target price on the stock in a research report on Friday, February 2nd. Finally, Cowen restated an “outperform” rating and set a $51.00 target price (up from $46.00) on shares of Wingstop in a research report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Wingstop presently has an average rating of “Hold” and a consensus price target of $45.42.
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Wingstop Inc is franchisor and operator of restaurants that specializes in cooked-to-order, hand-sauced and tossed chicken wings. The Company operates through two segments: Franchise and Company. As of December 31, 2016, the Company offers its guests 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides.
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