Canada Pension Plan Investment Board Increases Stock Position in Wingstop Inc. (NASDAQ:WING)

Canada Pension Plan Investment Board lifted its holdings in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 83.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,400 shares of the restaurant operator's stock after acquiring an additional 24,700 shares during the period. Canada Pension Plan Investment Board owned approximately 0.19% of Wingstop worth $15,460,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Verdence Capital Advisors LLC grew its holdings 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 buying an additional 34 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in Wingstop by 62.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator's stock worth $26,000 after acquiring an additional 35 shares during 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 acquiring an additional 37 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Wingstop by 0.5% in the fourth quarter. Arizona State Retirement System now owns 8,499 shares of the restaurant operator's stock valued at $2,415,000 after purchasing an additional 42 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Wingstop by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 897 shares of the restaurant operator's stock valued at $255,000 after purchasing an additional 47 shares during the last quarter.

Analyst Upgrades and Downgrades

WING has been the subject of a number of recent analyst reports. Benchmark reduced their price objective 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. BTIG Research reaffirmed a "buy" rating on shares of Wingstop in a report on Tuesday, March 25th. Truist Financial dropped their price target on Wingstop from $265.00 to $242.00 and set a "hold" rating on the stock in a report on Tuesday. Morgan Stanley reduced their price objective on Wingstop from $389.00 to $375.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Finally, Stephens reiterated an "overweight" rating and set a $450.00 target price on shares of Wingstop in a research note on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $334.13.

Wingstop Stock Up 4.5 %

NASDAQ:WING traded up $9.71 during mid-day trading on Friday, hitting $227.30. 679,660 shares of the stock traded hands, compared to its average volume of 582,494. The business's 50-day moving average price is $226.11 and its 200 day moving average price is $285.73. Wingstop Inc. has a 12-month low of $204.00 and a 12-month high of $433.86. The company has a market cap of $6.34 billion, a PE ratio of 61.27, a price-to-earnings-growth ratio of 2.27 and a beta of 2.02.

Wingstop Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Friday, March 7th. Wingstop's dividend payout ratio is 29.11%.

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.