Mutual of America Capital Management LLC Sells 710 Shares of Wingstop Inc. (NASDAQ:WING)

Mutual of America Capital Management LLC lessened its stake in shares of Wingstop Inc. (NASDAQ:WING) by 4.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,817 shares of the restaurant operator’s stock after selling 710 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of Wingstop worth $7,108,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Capstone Investment Advisors LLC increased its holdings in Wingstop by 235.2% during the 4th quarter. Capstone Investment Advisors LLC now owns 10,825 shares of the restaurant operator’s stock worth $2,777,000 after purchasing an additional 7,596 shares during the period. Illinois Municipal Retirement Fund bought a new position in Wingstop during the 1st quarter worth about $1,355,000. Goldman Sachs Group Inc. grew its holdings in Wingstop by 14.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 279,938 shares of the restaurant operator’s stock worth $71,827,000 after acquiring an additional 36,017 shares in the last quarter. Axiom Investors LLC DE purchased a new position in Wingstop during the 4th quarter valued at about $11,006,000. Finally, Virtu Financial LLC bought a new stake in shares of Wingstop in the 4th quarter valued at about $807,000.

Insider Activity

In related news, SVP Donnie Upshaw sold 3,199 shares of Wingstop stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $372.71, for a total value of $1,192,299.29. Following the sale, the senior vice president now owns 97 shares of the company’s stock, valued at approximately $36,152.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.36% of the company’s stock.

Wingstop Stock Performance

WING stock opened at $421.53 on Friday. Wingstop Inc. has a one year low of $166.65 and a one year high of $431.03. The firm’s fifty day moving average is $380.27 and its 200 day moving average is $380.66. The firm has a market cap of $12.35 billion, a PE ratio of 150.01, a P/E/G ratio of 4.09 and a beta of 1.71.

Wingstop (NASDAQ:WING) last posted its earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. The firm had revenue of $155.70 million for the quarter, compared to analysts’ expectations of $146.04 million. During the same period last year, the firm earned $0.57 EPS. The company’s quarterly revenue was up 45.3% on a year-over-year basis. Research analysts predict that Wingstop Inc. will post 3.77 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 16th. This is a boost from Wingstop’s previous quarterly dividend of $0.22. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.26%. Wingstop’s payout ratio is 38.43%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WING. Morgan Stanley increased their price objective on shares of Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 16th. Wedbush raised their price target on Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a report on Monday. Piper Sandler upped their price target on shares of Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Stephens reaffirmed an “overweight” rating and issued a $475.00 price target on shares of Wingstop in a report on Wednesday, August 14th. Finally, BMO Capital Markets boosted their price objective on shares of Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $379.53.

Wingstop 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.