Wellington Management Group LLP Trims Position in Wingstop Inc. (NASDAQ:WING)

Wellington Management Group LLP cut its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 30.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 807,395 shares of the restaurant operator’s stock after selling 359,835 shares during the quarter. Wellington Management Group LLP owned 2.75% of Wingstop worth $207,161,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of WING. UBS Group AG raised its position in Wingstop by 120.9% during the 3rd quarter. UBS Group AG now owns 26,920 shares of the restaurant operator’s stock worth $4,841,000 after buying an additional 14,733 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Wingstop during the 3rd quarter worth approximately $72,000. QRG Capital Management Inc. purchased a new position in Wingstop during the 3rd quarter worth approximately $612,000. Envestnet Portfolio Solutions Inc. purchased a new position in Wingstop during the 3rd quarter worth approximately $367,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Wingstop by 50.9% during 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 during the period.

Wall Street Analysts Forecast Growth

WING has been the topic of a number of analyst reports. BMO Capital Markets raised their price objective on shares of Wingstop from $275.00 to $325.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. TD Cowen raised their price objective on shares of Wingstop from $430.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Barclays raised their price objective on shares of Wingstop from $350.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Stifel Nicolaus raised their price objective on shares of Wingstop from $420.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Bank of America raised their price objective on shares of Wingstop from $421.00 to $461.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $343.37.

Insider Transactions at Wingstop

In related news, Director Kilandigalu Madati sold 645 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $395.74, for a total value of $255,252.30. Following the sale, the director now directly owns 5,147 shares in the company, valued at approximately $2,036,873.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Kilandigalu Madati sold 645 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $395.74, for a total value of $255,252.30. Following the sale, the director now directly owns 5,147 shares in the company, valued at approximately $2,036,873.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kate S. Lavelle sold 750 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $394.57, for a total transaction of $295,927.50. Following the completion of the sale, the director now owns 3,567 shares in the company, valued at $1,407,431.19. The disclosure for this sale can be found here. Insiders have sold a total of 6,191 shares of company stock worth $2,443,547 in the last quarter. Company insiders own 0.36% of the company’s stock.

Wingstop Stock Up 2.7 %

NASDAQ WING opened at $428.85 on Wednesday. Wingstop Inc. has a 52 week low of $150.08 and a 52 week high of $429.22. The business’s fifty day simple moving average is $383.05 and its 200-day simple moving average is $330.15. The firm has a market cap of $12.57 billion, a PE ratio of 152.62, a P/E/G ratio of 5.12 and a beta of 1.71.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $136.34 million. During the same quarter in the previous year, the firm earned $0.59 EPS. The company’s quarterly revenue was up 34.0% compared to the same quarter last year. Research analysts expect that Wingstop Inc. will post 3.39 EPS for the current year.

Wingstop Dividend Announcement

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

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.