Massachusetts Financial Services Co. MA Has $269.49 Million Stake in Wingstop Inc. (NASDAQ:WING)

Massachusetts Financial Services Co. MA raised its stake in Wingstop Inc. (NASDAQ:WING) by 7.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 647,677 shares of the restaurant operator’s stock after acquiring an additional 46,772 shares during the period. Massachusetts Financial Services Co. MA owned about 2.22% of Wingstop worth $269,485,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of WING. Fulton Bank N.A. grew its stake in shares of Wingstop by 5.0% during the third quarter. Fulton Bank N.A. now owns 547 shares of the restaurant operator’s stock valued at $228,000 after purchasing an additional 26 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Wingstop by 3.7% during the 2nd quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock worth $347,000 after buying an additional 29 shares in the last quarter. Dark Forest Capital Management LP boosted 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 buying an additional 31 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after buying an additional 35 shares during the period. Finally, Hollencrest Capital Management raised its position in shares of Wingstop by 53.8% during the third quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock worth $42,000 after acquiring an additional 35 shares during the last quarter.

Analyst Ratings Changes

A number of analysts recently commented on the company. BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price objective for the company in a research report on Thursday, October 31st. Benchmark upgraded shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price target for the company in a research report on Thursday, October 31st. TD Cowen dropped their price target on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating for the company 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. Finally, Piper Sandler lowered their target price on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $368.74.

Wingstop Stock Performance

Shares of WING opened at $337.60 on Friday. The firm has a market capitalization of $9.86 billion, a P/E ratio of 98.43, a P/E/G ratio of 3.15 and a beta of 1.76. Wingstop Inc. has a 52 week low of $229.27 and a 52 week high of $433.86. The stock has a 50 day moving average price of $372.44 and a two-hundred day moving average price of $382.99.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). The firm had revenue of $162.50 million for the quarter, compared to the consensus estimate of $160.24 million. Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The firm’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 earnings per share. On average, equities analysts forecast 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 given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.08 annualized dividend and a dividend yield of 0.32%. Wingstop’s dividend payout ratio is currently 31.49%.

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.