Amalgamated Bank Decreases Stock Position in Wingstop Inc. (NASDAQ:WING)

Amalgamated Bank lessened its holdings in Wingstop Inc. (NASDAQ:WING) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,329 shares of the restaurant operator’s stock after selling 57 shares during the quarter. Amalgamated Bank’s holdings in Wingstop were worth $4,072,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of WING. Hollencrest Capital Management raised its position in shares of Wingstop by 53.8% in the 3rd 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. Public Employees Retirement System of Ohio raised its holdings in shares of 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 buying an additional 35 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Wingstop by 34.9% during the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock worth $41,000 after buying an additional 37 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Wingstop by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 897 shares of the restaurant operator’s stock worth $255,000 after buying an additional 47 shares during the period. Finally, Tidal Investments LLC grew its holdings in shares of Wingstop by 7.8% during the third quarter. Tidal Investments LLC now owns 758 shares of the restaurant operator’s stock valued at $315,000 after buying an additional 55 shares during the last quarter.

Wingstop Trading Up 2.7 %

Shares of WING opened at $234.78 on Friday. The firm has a market cap of $6.73 billion, a P/E ratio of 63.28, a PEG ratio of 2.27 and a beta of 1.81. Wingstop Inc. has a 12 month low of $219.12 and a 12 month high of $433.86. The stock’s 50 day moving average is $283.06 and its two-hundred day moving average is $335.79.

Wingstop announced that its board has initiated a stock buyback program on Thursday, December 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wingstop Dividend Announcement

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

Insider Buying and Selling

In other news, SVP Raj Kapoor sold 266 shares of Wingstop 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 sale, the senior vice president now owns 266 shares in the company, valued at $86,285.08. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.36% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WING. Stifel Nicolaus reduced their target price on Wingstop from $375.00 to $350.00 and set a “buy” rating for the company in a research note on Friday. Morgan Stanley reduced their price objective on Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. UBS Group dropped their target price on Wingstop from $330.00 to $300.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. 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 research report on Thursday, February 20th. Finally, TD Securities dropped their price objective on shares of Wingstop from $365.00 to $305.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $357.67.

Wingstop 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.