1832 Asset Management L.P. Decreases Stock Position in Wingstop Inc. (NASDAQ:WING)

1832 Asset Management L.P. trimmed its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 25.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 253,400 shares of the restaurant operator’s stock after selling 87,000 shares during the period. 1832 Asset Management L.P. owned approximately 0.86% of Wingstop worth $107,102,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of WING. Hollencrest Capital Management purchased a new position in shares of Wingstop during the second quarter valued at approximately $27,000. Rise Advisors LLC bought a new stake in Wingstop in the 1st quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC purchased a new stake in Wingstop during the 2nd quarter valued at $34,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Wingstop by 60.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after buying an additional 35 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Wingstop by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after buying an additional 40 shares during the last quarter.

Insider Activity

In related 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 value of $1,192,299.29. Following the sale, the senior vice president now owns 97 shares in the company, valued at $36,152.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.36% of the company’s stock.

Wingstop Stock Performance

Shares of NASDAQ WING opened at $419.90 on Monday. The company has a market cap 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 52-week low of $166.65 and a 52-week high of $431.03. The firm’s fifty day moving average is $381.87 and its two-hundred day moving average is $381.51.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the firm posted $0.57 earnings per share. The business’s revenue was up 45.3% compared to the same quarter last year. As a group, analysts forecast that Wingstop Inc. will post 3.77 EPS for the current fiscal year.

Wingstop Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were given a dividend of $0.27 per share. This is an increase 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%. The ex-dividend date of this dividend was Friday, August 16th. Wingstop’s dividend payout ratio is currently 38.43%.

Analyst Ratings Changes

A number of research analysts have weighed in on WING shares. Morgan Stanley increased their target price on Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, July 16th. Stifel Nicolaus increased 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, June 18th. Stephens restated an “overweight” rating and set a $475.00 target price on shares of Wingstop in a research report on Wednesday, August 14th. TD Cowen reaffirmed a “buy” rating and set a $450.00 target price on shares of Wingstop in a report on Wednesday, July 31st. Finally, Truist Financial lifted their price target on shares of Wingstop from $407.00 to $423.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Wingstop presently has an average rating of “Hold” and a consensus target price of $379.53.

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.