Envestnet Asset Management Inc. Has $29.07 Million Stock Position in Wingstop Inc. (NASDAQ:WING)

Envestnet Asset Management Inc. trimmed its position in Wingstop Inc. (NASDAQ:WING) by 8.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,781 shares of the restaurant operator’s stock after selling 6,070 shares during the quarter. Envestnet Asset Management Inc. owned about 0.23% of Wingstop worth $29,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of WING. Rise Advisors LLC bought a new position in Wingstop during the first quarter worth $29,000. Ashton Thomas Private Wealth LLC bought a new position in Wingstop during the second quarter worth $34,000. Massmutual Trust Co. FSB ADV increased its position in Wingstop by 60.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after acquiring an additional 35 shares during the period. GAMMA Investing LLC increased its position in Wingstop by 53.3% during the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after acquiring an additional 40 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new position in Wingstop during the fourth quarter worth $47,000.

Insider Activity

In other news, SVP Donnie Upshaw sold 3,199 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $372.71, for a total value of $1,192,299.29. Following the completion of 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 legal filing with the SEC, which is available at this link. 0.36% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WING has been the topic of a number of research reports. Wedbush boosted their target price on shares of Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. BMO Capital Markets boosted their price target 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. Piper Sandler boosted their price target on shares of Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. The Goldman Sachs Group boosted their price target on shares of Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Stephens reissued an “overweight” rating and issued a $475.00 price target on shares of Wingstop in a report on Wednesday, August 14th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Wingstop presently has an average rating of “Hold” and a consensus target price of $379.53.

Wingstop Stock Down 0.4 %

Shares of WING opened at $419.90 on Friday. The stock has a market capitalization of $12.30 billion, a P/E ratio of 149.43, a P/E/G ratio of 4.09 and a beta of 1.71. Wingstop Inc. has a twelve month low of $166.65 and a twelve month high of $431.03. The company has a 50 day moving average of $381.87 and a 200-day moving average of $381.43.

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

Wingstop Increases Dividend

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

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.