Meeder Asset Management Inc. Takes Position in Wingstop Inc. (NASDAQ:WING)

Meeder Asset Management Inc. bought a new position in shares of Wingstop Inc. (NASDAQ:WING) during the third quarter, HoldingsChannel reports. The fund bought 1,011 shares of the restaurant operator’s stock, valued at approximately $421,000.

A number of other institutional investors have also modified their holdings of the business. Fulton Bank N.A. grew its position in Wingstop by 5.0% during the 3rd quarter. Fulton Bank N.A. now owns 547 shares of the restaurant operator’s stock worth $228,000 after purchasing an additional 26 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Wingstop by 3.7% during the second quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock worth $347,000 after buying an additional 29 shares during the last quarter. Dark Forest Capital Management LP increased its position in Wingstop by 4.3% in the 2nd quarter. Dark Forest Capital Management LP now owns 752 shares of the restaurant operator’s stock valued at $318,000 after acquiring an additional 31 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Wingstop by 60.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after acquiring an additional 35 shares during the last quarter. Finally, Hollencrest Capital Management raised its stake in Wingstop by 53.8% during the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock valued at $42,000 after acquiring an additional 35 shares during the last quarter.

Wingstop Stock Up 2.7 %

NASDAQ:WING opened at $335.58 on Wednesday. Wingstop Inc. has a 52-week low of $227.54 and a 52-week high of $433.86. The stock has a fifty day simple moving average of $374.77 and a 200-day simple moving average of $383.66. The company has a market capitalization of $9.80 billion, a PE ratio of 97.84, a price-to-earnings-growth ratio of 3.04 and a beta of 1.76.

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 analysts’ consensus estimates of $0.97 by ($0.09). The business had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The business’s revenue was up 38.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, equities analysts anticipate that Wingstop Inc. will post 3.68 earnings per share for the current year.

Wingstop Dividend Announcement

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

Wall Street Analysts Forecast Growth

WING has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $390.00 target price on shares of Wingstop in a research note on Tuesday, November 5th. Stephens dropped their price objective on shares of Wingstop from $490.00 to $468.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. BMO Capital Markets raised their target price on shares of Wingstop from $345.00 to $360.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Raymond James raised shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Thursday, August 1st. Finally, Truist Financial increased their price target on shares of Wingstop from $407.00 to $423.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $368.74.

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.