Congress Asset Management Co. MA Has $2.92 Million Stake in Wingstop Inc. (NASDAQ:WING)

Congress Asset Management Co. MA grew its holdings in Wingstop Inc. (NASDAQ:WING) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,380 shares of the restaurant operator’s stock after purchasing an additional 34 shares during the period. Congress Asset Management Co. MA’s holdings in Wingstop were worth $2,920,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in WING. Franklin Resources Inc. increased its holdings in shares of Wingstop by 155.7% in the 4th quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock valued at $224,093,000 after purchasing an additional 531,880 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Wingstop in the 4th quarter valued at about $103,899,000. American Century Companies Inc. increased its holdings in Wingstop by 29.4% in the third quarter. American Century Companies Inc. now owns 1,626,558 shares of the restaurant operator’s stock worth $292,520,000 after buying an additional 370,032 shares during the last quarter. Norges Bank acquired a new position in Wingstop in the fourth quarter worth approximately $80,423,000. Finally, 1832 Asset Management L.P. acquired a new position in Wingstop in the fourth quarter worth approximately $78,616,000.

Wingstop Trading Up 4.7 %

WING 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 stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of 148.53, a P/E/G ratio of 5.12 and a beta of 1.71. The business has a 50 day moving average of $381.56 and a 200-day moving average of $328.84.

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

Wingstop Dividend Announcement

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

Insider Buying and Selling

In related news, Director Ania Smith sold 566 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 1,164 shares of the company’s stock, valued at $443,379.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Ania Smith sold 566 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 1,164 shares of the company’s stock, valued at $443,379.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kate S. Lavelle sold 750 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $394.57, for a total value of $295,927.50. Following the completion of the transaction, the director now directly owns 3,567 shares of the company’s stock, valued at $1,407,431.19. The disclosure for this sale can be found here. Insiders sold a total of 6,191 shares of company stock valued at $2,443,547 over the last ninety days. 0.36% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on WING. BMO Capital Markets increased their price objective on Wingstop from $275.00 to $325.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. Wedbush increased their price objective on Wingstop from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Stephens restated an “overweight” rating and issued a $425.00 price objective on shares of Wingstop in a report on Wednesday, May 1st. Citigroup increased their price objective on Wingstop from $375.00 to $398.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, Truist Financial increased their price objective on Wingstop from $320.00 to $345.00 and gave the stock a “hold” rating in a report on Thursday, May 2nd. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $336.53.

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.