Prudential Financial Inc. Reduces Holdings in Wingstop Inc (WING)
Prudential Financial Inc. cut its holdings in Wingstop Inc (NASDAQ:WING) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,538 shares of the restaurant operator’s stock after selling 830 shares during the quarter. Prudential Financial Inc.’s holdings in Wingstop were worth $3,051,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. raised its position in Wingstop by 2.9% in the third quarter. BlackRock Inc. now owns 4,143,057 shares of the restaurant operator’s stock worth $282,846,000 after acquiring an additional 115,194 shares in the last quarter. Vanguard Group Inc. raised its position in Wingstop by 2.8% in the third quarter. Vanguard Group Inc. now owns 2,893,632 shares of the restaurant operator’s stock worth $197,548,000 after acquiring an additional 77,875 shares in the last quarter. Vanguard Group Inc raised its position in Wingstop by 2.8% in the third quarter. Vanguard Group Inc now owns 2,893,632 shares of the restaurant operator’s stock worth $197,548,000 after acquiring an additional 77,875 shares in the last quarter. Federated Investors Inc. PA raised its position in Wingstop by 2.6% in the third quarter. Federated Investors Inc. PA now owns 898,551 shares of the restaurant operator’s stock worth $61,344,000 after acquiring an additional 22,451 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its position in Wingstop by 41.0% in the third quarter. Eagle Asset Management Inc. now owns 831,434 shares of the restaurant operator’s stock worth $56,761,000 after acquiring an additional 241,596 shares in the last quarter.
NASDAQ WING opened at $69.50 on Friday. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 82.74, a P/E/G ratio of 4.37 and a beta of 0.87. Wingstop Inc has a 1 year low of $45.53 and a 1 year high of $75.58.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, March 12th. This represents a $0.36 annualized dividend and a yield of 0.52%. Wingstop’s payout ratio is presently 42.86%.
In other Wingstop news, Chairman Charles R. Morrison sold 20,000 shares of Wingstop stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $66.33, for a total transaction of $1,326,600.00. Following the transaction, the chairman now owns 123,152 shares of the company’s stock, valued at approximately $8,168,672.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lawrence Kruguer sold 2,600 shares of Wingstop stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $62.41, for a total value of $162,266.00. Following the transaction, the insider now directly owns 5,531 shares in the company, valued at approximately $345,189.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,700 shares of company stock worth $3,533,959. Corporate insiders own 1.70% of the company’s stock.
Several brokerages have commented on WING. Zacks Investment Research upgraded shares of Wingstop from a “sell” rating to a “hold” rating in a research report on Saturday, January 12th. Wedbush reiterated a “buy” rating and issued a $74.00 price target (up from $69.00) on shares of Wingstop in a research report on Wednesday. Finally, BidaskClub downgraded Wingstop from a “buy” rating to a “hold” rating in a report on Wednesday, February 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Wingstop has an average rating of “Hold” and a consensus price target of $66.14.
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Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of February 22, 2018, the company operated approximately 1,000 restaurants the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, and Colombia.
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