Invesco Ltd. Sells 216,646 Shares of Wingstop Inc. (NASDAQ:WING)

Invesco Ltd. lessened its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 29.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 520,877 shares of the restaurant operator’s stock after selling 216,646 shares during the period. Invesco Ltd. owned 1.78% of Wingstop worth $148,033,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of WING. Verdence Capital Advisors LLC boosted its stake in Wingstop by 3.9% during the fourth quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator’s stock worth $256,000 after acquiring an additional 34 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Wingstop by 0.3% during the third quarter. Public Employees Retirement System of Ohio now owns 11,523 shares of the restaurant operator’s stock valued at $4,794,000 after purchasing an additional 35 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its position in shares of Wingstop by 62.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 35 shares in the last quarter. V Square Quantitative Management LLC grew its stake in shares of Wingstop by 34.9% in the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock worth $41,000 after buying an additional 37 shares during the last quarter. Finally, Arizona State Retirement System increased its position in Wingstop by 0.5% during the 4th quarter. Arizona State Retirement System now owns 8,499 shares of the restaurant operator’s stock valued at $2,415,000 after buying an additional 42 shares in the last quarter.

Wingstop Stock Down 1.2 %

Shares of NASDAQ:WING opened at $237.29 on Friday. The stock has a market capitalization of $6.62 billion, a PE ratio of 63.96, a price-to-earnings-growth ratio of 2.27 and a beta of 2.02. The firm’s 50 day moving average price is $243.36 and its 200-day moving average price is $298.34. Wingstop Inc. has a twelve month low of $205.60 and a twelve month high of $433.86.

Wingstop Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, March 7th. Wingstop’s dividend payout ratio is presently 29.11%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group dropped their target price on Wingstop from $330.00 to $300.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Morgan Stanley dropped their price target on shares of Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Barclays reduced their price objective on shares of Wingstop from $359.00 to $315.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. BMO Capital Markets cut their price target on shares of Wingstop from $335.00 to $300.00 and set a “market perform” rating on the stock in a report on Thursday, February 20th. Finally, Benchmark reduced their price target on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $348.23.

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.