Harvest Fund Management Co. Ltd Cuts Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Harvest Fund Management Co. Ltd decreased its position in Wingstop Inc. (NASDAQ:WING) by 76.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 584 shares of the restaurant operator’s stock after selling 1,862 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Wingstop were worth $243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its position in Wingstop by 7.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 647,677 shares of the restaurant operator’s stock worth $269,485,000 after purchasing an additional 46,772 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Wingstop by 36.6% in the 2nd quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock worth $254,860,000 after buying an additional 161,600 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Wingstop by 40.8% in the third quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock valued at $193,630,000 after acquiring an additional 134,802 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Wingstop by 284.1% in the second quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock valued at $161,957,000 after acquiring an additional 283,412 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Wingstop by 66.6% during the second quarter. AQR Capital Management LLC now owns 325,920 shares of the restaurant operator’s stock valued at $137,753,000 after acquiring an additional 130,248 shares during the last quarter.

Analysts Set New Price Targets

WING has been the topic of several research analyst reports. The Goldman Sachs Group raised Wingstop from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $458.00 to $377.00 in a research report on Friday, November 8th. Barclays cut their price target on shares of Wingstop from $470.00 to $380.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Northcoast Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a report on Friday, November 1st. BTIG Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 target price on the stock in a research note on Thursday, October 31st. Finally, Raymond James raised shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Wingstop has an average rating of “Moderate Buy” and an average target price of $368.74.

Wingstop Trading Up 0.5 %

Shares of NASDAQ:WING opened at $338.79 on Wednesday. The company has a 50 day moving average of $369.86 and a 200 day moving average of $381.97. The stock has a market cap of $9.90 billion, a P/E ratio of 98.77, a P/E/G ratio of 3.14 and a beta of 1.76. Wingstop Inc. has a 12 month low of $229.27 and a 12 month high of $433.86.

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 the consensus estimate of $0.97 by ($0.09). Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The firm had revenue of $162.50 million during the quarter, compared to the consensus estimate of $160.24 million. During the same period in the previous year, the company posted $0.69 EPS. The company’s revenue for the quarter was up 38.8% compared to the same quarter last year. On average, equities analysts forecast that Wingstop Inc. will post 3.68 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Friday, November 15th. Wingstop’s payout ratio is 31.49%.

Wingstop Company 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.