Summit Investment Advisors Inc. Lowers Position in Wingstop Inc. (NASDAQ:WING)

Summit Investment Advisors Inc. decreased its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,851 shares of the restaurant operator’s stock after selling 161 shares during the period. Summit Investment Advisors Inc.’s holdings in Wingstop were worth $1,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Next Century Growth Investors LLC bought a new stake in shares of Wingstop during the 4th quarter valued at about $8,279,000. Kennedy Capital Management LLC raised its stake in Wingstop by 13.4% in the fourth quarter. Kennedy Capital Management LLC now owns 22,629 shares of the restaurant operator’s stock valued at $6,431,000 after purchasing an additional 2,666 shares in the last quarter. Neuberger Berman Group LLC lifted its position in Wingstop by 43.0% during the fourth quarter. Neuberger Berman Group LLC now owns 139,360 shares of the restaurant operator’s stock valued at $39,606,000 after purchasing an additional 41,921 shares during the last quarter. F M Investments LLC lifted its position in Wingstop by 35.1% during the fourth quarter. F M Investments LLC now owns 2,393 shares of the restaurant operator’s stock valued at $680,000 after purchasing an additional 622 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in Wingstop by 33.9% in the 4th quarter. Bessemer Group Inc. now owns 68,456 shares of the restaurant operator’s stock worth $19,457,000 after buying an additional 17,347 shares in the last quarter.

Wingstop Trading Down 3.6 %

WING stock opened at $224.66 on Wednesday. The firm’s 50-day moving average price is $240.25 and its two-hundred day moving average price is $295.70. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 60.56, a PEG ratio of 2.27 and a beta of 2.02. Wingstop Inc. has a 12-month low of $205.60 and a 12-month high of $433.86.

Wingstop Dividend Announcement

The firm also recently declared 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. This represents a $1.08 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Friday, March 7th. Wingstop’s payout ratio is 29.11%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WING shares. Stephens reaffirmed an “overweight” rating and set a $450.00 price objective on shares of Wingstop in a report on Wednesday, February 19th. Barclays dropped their price target on Wingstop from $359.00 to $315.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Northcoast Research lowered Wingstop from a “buy” rating to a “neutral” rating in a research report on Friday, February 21st. Benchmark dropped their target price on Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Finally, UBS Group reduced their price target on shares of Wingstop from $330.00 to $300.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Wingstop presently has an average rating of “Moderate Buy” and a consensus target price of $348.23.

Wingstop 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.