American International Group Inc. Sells 2,505 Shares of Wingstop Inc. (NASDAQ:WING)

American International Group Inc. lessened its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,998 shares of the restaurant operator’s stock after selling 2,505 shares during the quarter. American International Group Inc. owned about 0.14% of Wingstop worth $10,263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. UBS Group AG lifted its position in Wingstop by 120.9% during the third quarter. UBS Group AG now owns 26,920 shares of the restaurant operator’s stock valued at $4,841,000 after purchasing an additional 14,733 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Wingstop in the third quarter valued at $72,000. QRG Capital Management Inc. purchased a new stake in Wingstop during the third quarter valued at about $612,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Wingstop in the 3rd quarter worth about $367,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Wingstop by 50.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 98,327 shares of the restaurant operator’s stock worth $17,683,000 after purchasing an additional 33,152 shares in the last quarter.

Insider Buying and Selling at Wingstop

In related news, Director Ania Smith sold 566 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $380.91, for a total value of $215,595.06. Following the sale, the director now owns 1,164 shares in the company, valued at approximately $443,379.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Ania Smith sold 566 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $380.91, for a total value of $215,595.06. Following the transaction, the director now owns 1,164 shares in the company, valued at approximately $443,379.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Albert G. Mcgrath sold 4,230 shares of Wingstop stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $396.40, for a total transaction of $1,676,772.00. Following the completion of the transaction, the senior vice president now directly owns 8,170 shares of the company’s stock, valued at $3,238,588. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,191 shares of company stock valued at $2,443,547. Corporate insiders own 0.36% of the company’s stock.

Wingstop Price Performance

WING stock opened at $417.38 on Tuesday. Wingstop Inc. has a 1 year low of $150.08 and a 1 year high of $417.47. The firm has a 50-day moving average of $381.56 and a 200 day moving average of $328.84. The company has a market cap of $12.23 billion, a P/E ratio of 148.53, a PEG ratio of 5.12 and a beta of 1.71.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.22. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The business had revenue of $145.70 million during the quarter, compared to the consensus estimate of $136.34 million. During the same quarter in the prior year, the company earned $0.59 earnings per share. The firm’s quarterly revenue was up 34.0% compared to the same quarter last year. On average, equities research analysts expect that Wingstop Inc. will post 3.39 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 17th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend was Thursday, May 16th. Wingstop’s payout ratio is currently 31.32%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on WING shares. Truist Financial boosted their target price on Wingstop from $320.00 to $345.00 and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Citigroup increased their target price on shares of Wingstop from $375.00 to $398.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Bank of America upped their price target on shares of Wingstop from $421.00 to $461.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Morgan Stanley lifted their price objective on Wingstop from $280.00 to $315.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Finally, Barclays increased their target price on Wingstop from $350.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $336.53.

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.