Public Employees Retirement Association of Colorado Sells 184 Shares of Wingstop Inc. (NASDAQ:WING)

Public Employees Retirement Association of Colorado lessened its holdings in Wingstop Inc. (NASDAQ:WING) by 5.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,147 shares of the restaurant operator’s stock after selling 184 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Wingstop were worth $1,330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Wingstop by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock worth $1,071,473,000 after buying an additional 104,780 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Wingstop by 4.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator’s stock worth $833,026,000 after acquiring an additional 101,917 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Wingstop by 36.6% during the second quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock valued at $254,860,000 after acquiring an additional 161,600 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Wingstop by 2.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 600,905 shares of the restaurant operator’s stock valued at $253,979,000 after acquiring an additional 16,526 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of Wingstop by 11.1% in the 1st quarter. 1832 Asset Management L.P. now owns 340,400 shares of the restaurant operator’s stock worth $124,723,000 after purchasing an additional 34,000 shares during the last quarter.

Wingstop Price Performance

Shares of Wingstop stock opened at $426.86 on Wednesday. Wingstop Inc. has a 1-year low of $166.65 and a 1-year high of $433.86. The company’s fifty day simple moving average is $383.50 and its 200-day simple moving average is $382.43. The stock has a market capitalization of $12.51 billion, a PE ratio of 151.91, a P/E/G ratio of 4.09 and a beta of 1.71.

Wingstop (NASDAQ:WING) last released its earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. The company had revenue of $155.70 million for 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%. Wingstop’s quarterly revenue was up 45.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share. As a group, research analysts anticipate that Wingstop Inc. will post 3.77 EPS for the current year.

Wingstop Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.25%. This is a positive change from Wingstop’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, August 16th. Wingstop’s dividend payout ratio is currently 38.43%.

Insider Buying and Selling at Wingstop

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 transaction of $1,192,299.29. Following the transaction, the senior vice president now owns 97 shares in the company, valued at approximately $36,152.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on WING. Barclays raised their price objective on shares of Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. TD Cowen reissued a “buy” rating and set a $450.00 price target on shares of Wingstop in a research report on Wednesday, July 31st. Wedbush upped their price objective on Wingstop from $425.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Morgan Stanley increased their target price on Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 16th. Finally, Stephens restated an “overweight” rating and issued a $475.00 price target on shares of Wingstop in a research note on Wednesday, August 14th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Wingstop has an average rating of “Hold” and a consensus target price 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.