Massachusetts Financial Services Co. MA Buys 46,772 Shares of Wingstop Inc. (NASDAQ:WING)

Massachusetts Financial Services Co. MA grew its stake in Wingstop Inc. (NASDAQ:WING) by 7.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 647,677 shares of the restaurant operator’s stock after buying an additional 46,772 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Wingstop were worth $269,485,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. King Luther Capital Management Corp lifted its position in Wingstop by 1.3% in the 3rd quarter. King Luther Capital Management Corp now owns 15,789 shares of the restaurant operator’s stock worth $6,569,000 after buying an additional 197 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Wingstop by 6.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 7,954 shares of the restaurant operator’s stock worth $3,310,000 after acquiring an additional 511 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Wingstop in the 3rd quarter valued at $4,983,000. Avior Wealth Management LLC grew its holdings in shares of Wingstop by 5.7% during the 3rd quarter. Avior Wealth Management LLC now owns 1,174 shares of the restaurant operator’s stock valued at $488,000 after purchasing an additional 63 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in Wingstop by 13.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,276 shares of the restaurant operator’s stock worth $531,000 after purchasing an additional 155 shares during the period.

Wingstop Stock Performance

Shares of WING opened at $337.60 on Friday. The stock has a market capitalization of $9.86 billion, a PE ratio of 98.43, a PEG ratio of 3.15 and a beta of 1.76. The company has a 50 day moving average price of $372.44 and a 200-day moving average price of $382.99. Wingstop Inc. has a fifty-two week low of $229.27 and a fifty-two week high of $433.86.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The company had revenue of $162.50 million for the quarter, compared to the consensus estimate of $160.24 million. During the same period last year, the business posted $0.69 EPS. The firm’s revenue was up 38.8% compared to the same quarter last year. Equities research analysts forecast that Wingstop Inc. will post 3.68 EPS for the current year.

Wingstop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, November 15th. This represents a $1.08 annualized dividend and a dividend yield of 0.32%. Wingstop’s dividend payout ratio is presently 31.49%.

Wall Street Analyst Weigh In

WING has been the subject of several analyst reports. Northcoast Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 target price for the company in a report on Friday, November 1st. BTIG Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 target price on the stock in a report on Thursday, October 31st. Citigroup upped their price target on shares of Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a report on Friday, October 4th. BMO Capital Markets raised their price target on shares of Wingstop from $345.00 to $360.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Finally, Barclays lowered their price objective on shares of Wingstop from $470.00 to $380.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $368.74.

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.