Summit Investment Advisors Inc. Sells 161 Shares of Wingstop Inc. (NASDAQ:WING)

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

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in shares of Wingstop by 521.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 73 shares during the period. CBIZ Investment Advisory Services LLC lifted its stake in shares of Wingstop by 62.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 35 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Wingstop during the fourth quarter valued at about $30,000. V Square Quantitative Management LLC increased its position in shares of Wingstop by 34.9% during the fourth 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. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Wingstop in the 4th quarter worth about $49,000.

Wingstop Price Performance

Shares of WING stock opened at $224.66 on Wednesday. Wingstop Inc. has a 1 year low of $205.60 and a 1 year high of $433.86. The company’s fifty day simple moving average is $240.25 and its two-hundred day simple moving average 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Friday, March 7th. Wingstop’s dividend payout ratio is presently 29.11%.

Analysts Set New Price Targets

WING has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price objective on Wingstop from $375.00 to $350.00 and set a “buy” rating for the company in a report on Friday, February 28th. Jefferies Financial Group upgraded Wingstop from a “hold” rating to a “buy” rating and set a $270.00 price target for the company in a report on Monday, March 31st. Wedbush lowered their price target on Wingstop from $390.00 to $355.00 and set an “outperform” 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. Finally, Robert W. Baird lowered their target price on shares of Wingstop from $375.00 to $350.00 and set an “outperform” rating for the company in a report on Monday, April 7th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.