Robert W. Baird Cuts Wingstop (NASDAQ:WING) Price Target to $350.00

Wingstop (NASDAQ:WING) had its target price trimmed by Robert W. Baird from $375.00 to $350.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the restaurant operator’s stock.

A number of other analysts have also recently issued reports on WING. Raymond James reaffirmed an “outperform” rating and issued a $330.00 price objective (down from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Morgan Stanley reduced their price objective on shares of Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Benchmark dropped their price objective on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. BTIG Research restated a “buy” rating on shares of Wingstop in a research note on Tuesday, March 25th. Finally, TD Securities lowered their price target 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. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Wingstop has an average rating of “Moderate Buy” and a consensus price target of $348.23.

Wingstop Stock Performance

Shares of WING stock opened at $246.22 on Monday. Wingstop has a 52-week low of $205.60 and a 52-week high of $433.86. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 66.37, a PEG ratio of 2.27 and a beta of 2.02. The firm’s 50-day moving average is $246.02 and its 200-day moving average is $300.92.

Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.44%. Wingstop’s dividend payout ratio is currently 29.11%.

Institutional Investors Weigh In On Wingstop

A number of hedge funds have recently made changes to their positions in WING. Proficio Capital Partners LLC acquired a new stake in shares of Wingstop during the 4th quarter valued at $10,177,000. SG Americas Securities LLC increased its holdings in Wingstop by 277.5% in the 4th quarter. SG Americas Securities LLC now owns 4,771 shares of the restaurant operator’s stock worth $1,356,000 after purchasing an additional 3,507 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in Wingstop by 779.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 18,461 shares of the restaurant operator’s stock valued at $5,247,000 after purchasing an additional 16,361 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Wingstop by 475.0% during the fourth 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 in the last quarter. Finally, Conway Capital Management Inc. bought a new stake in shares of Wingstop during the third quarter worth about $3,544,000.

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.