State of New Jersey Common Pension Fund D Sells 238 Shares of Wingstop Inc. (NASDAQ:WING)

State of New Jersey Common Pension Fund D lessened its stake in Wingstop Inc. (NASDAQ:WING) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,042 shares of the restaurant operator’s stock after selling 238 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Wingstop were worth $3,138,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WING. True Wealth Design LLC acquired a new stake in shares of Wingstop in the 3rd quarter valued at $36,000. V Square Quantitative Management LLC boosted its holdings in Wingstop by 34.9% in the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock valued at $41,000 after acquiring an additional 37 shares during the last quarter. Hollencrest Capital Management boosted its holdings in Wingstop by 53.8% in the third 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. Blue Trust Inc. increased its position in Wingstop by 384.6% in the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock worth $53,000 after purchasing an additional 100 shares during the period. Finally, R Squared Ltd bought a new stake in Wingstop during the 4th quarter worth about $71,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on WING shares. Barclays reduced their target price on shares of Wingstop from $470.00 to $380.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. The Goldman Sachs Group raised shares of Wingstop from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $458.00 to $377.00 in a research note on Friday, November 8th. Wedbush reiterated an “outperform” rating and set a $390.00 target price on shares of Wingstop in a research report on Tuesday, November 5th. Benchmark upgraded Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price target on the stock in a research report on Thursday, October 31st. Finally, Piper Sandler dropped their price objective on Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Wingstop currently has an average rating of “Moderate Buy” and an average price target of $384.72.

Insider Transactions at Wingstop

In other news, SVP Raj Kapoor sold 266 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $324.38, for a total transaction of $86,285.08. Following the completion of the transaction, the senior vice president now directly owns 266 shares of the company’s stock, valued at $86,285.08. This represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.36% of the stock is owned by insiders.

Wingstop Stock Performance

Shares of WING stock opened at $265.02 on Thursday. Wingstop Inc. has a 52 week low of $258.50 and a 52 week high of $433.86. The company’s 50 day moving average price is $291.76 and its two-hundred day moving average price is $341.94. The company has a market capitalization of $7.74 billion, a P/E ratio of 77.27, a price-to-earnings-growth ratio of 2.74 and a beta of 1.81.

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

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.