King Luther Capital Management Corp Decreases Stock Holdings in Wingstop Inc. (NASDAQ:WING)

King Luther Capital Management Corp trimmed its position in Wingstop Inc. (NASDAQ:WING) by 7.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,592 shares of the restaurant operator’s stock after selling 1,340 shares during the period. King Luther Capital Management Corp owned about 0.05% of Wingstop worth $6,590,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WING. Hollencrest Capital Management purchased a new stake in Wingstop in the 2nd quarter worth $27,000. Benjamin F. Edwards & Company Inc. grew its position in Wingstop by 4.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,440 shares of the restaurant operator’s stock valued at $608,000 after acquiring an additional 60 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Wingstop in the 2nd quarter valued at about $5,989,000. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Wingstop by 8.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,691 shares of the restaurant operator’s stock valued at $1,137,000 after acquiring an additional 215 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in Wingstop by 2.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,294 shares of the restaurant operator’s stock valued at $969,000 after purchasing an additional 47 shares during the period.

Wingstop Stock Performance

WING opened at $419.90 on Friday. The firm has a market capitalization of $12.30 billion, a PE ratio of 149.43, a PEG ratio of 4.09 and a beta of 1.71. The business’s 50-day simple moving average is $381.87 and its 200 day simple moving average is $381.31. Wingstop Inc. has a 52-week low of $166.65 and a 52-week high of $431.03.

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

Wingstop Increases Dividend

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

Analyst Upgrades and Downgrades

WING has been the subject of a number of analyst reports. Truist Financial increased their target price on shares of Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Barclays upped their price target on shares of Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. The Goldman Sachs Group lifted their target price on shares of Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Wedbush upped their price target on Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Finally, Piper Sandler lifted their target price on shares of Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $379.53.

Insider Activity

In other news, SVP Donnie Upshaw sold 3,199 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the completion of the transaction, the senior vice president now directly owns 97 shares in the company, valued at approximately $36,152.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.36% of the company’s stock.

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.