QRG Capital Management Inc. Has $904,000 Stock Holdings in Wingstop Inc. (NASDAQ:WING)

QRG Capital Management Inc. cut its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 9.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,182 shares of the restaurant operator’s stock after selling 337 shares during the period. QRG Capital Management Inc.’s holdings in Wingstop were worth $904,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Versor Investments LP grew its position in shares of Wingstop by 149.0% in the 4th quarter. Versor Investments LP now owns 5,309 shares of the restaurant operator’s stock valued at $1,509,000 after buying an additional 3,177 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Wingstop in the fourth quarter valued at approximately $10,177,000. Oppenheimer Asset Management Inc. increased its position in Wingstop by 9.2% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 4,250 shares of the restaurant operator’s stock valued at $1,208,000 after purchasing an additional 359 shares during the period. Advisor OS LLC bought a new position in Wingstop during the 4th quarter worth approximately $273,000. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Wingstop by 475.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 69,234 shares of the restaurant operator’s stock valued at $19,676,000 after purchasing an additional 57,193 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WING shares. Northcoast Research downgraded shares of Wingstop from a “buy” rating to a “neutral” rating in a research note on Friday, February 21st. The Goldman Sachs Group raised Wingstop from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $458.00 to $377.00 in a research note on Friday, November 8th. UBS Group decreased their target price on Wingstop from $330.00 to $300.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Wingstop in a research note on Wednesday, February 19th. Finally, Guggenheim upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price target on the stock in a report on Monday, February 24th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $357.67.

Insiders Place Their Bets

In related news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $324.38, for a total transaction of $86,285.08. Following the sale, the senior vice president now directly owns 266 shares in the company, valued at approximately $86,285.08. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.36% of the company’s stock.

Wingstop Price Performance

Shares of WING stock opened at $224.29 on Tuesday. The firm has a 50-day moving average of $281.73 and a 200-day moving average of $334.06. Wingstop Inc. has a one year low of $219.12 and a one year high of $433.86. The company has a market cap of $6.43 billion, a P/E ratio of 60.46, a P/E/G ratio of 2.27 and a beta of 1.81.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 0.48%. Wingstop’s dividend payout ratio is currently 29.11%.

Wingstop announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the restaurant operator to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors 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.