Handelsbanken Fonder AB Boosts Holdings in Wingstop Inc. (NASDAQ:WING)

Handelsbanken Fonder AB raised its stake in Wingstop Inc. (NASDAQ:WING) by 19.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,444 shares of the restaurant operator’s stock after acquiring an additional 1,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Wingstop were worth $3,097,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Hollencrest Capital Management purchased a new position in Wingstop in the second quarter valued at approximately $27,000. Rise Advisors LLC bought a new stake in shares of Wingstop in the first quarter valued at $29,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Wingstop during the 2nd quarter valued at $34,000. Massmutual Trust Co. FSB ADV lifted its position 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 last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Wingstop by 53.3% during the 1st 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.

Insider Activity at Wingstop

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of Wingstop 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 transaction, the senior vice president now directly owns 97 shares of the company’s stock, valued at $36,152.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.36% of the stock is currently owned by company insiders.

Wingstop Price Performance

NASDAQ:WING opened at $403.52 on Wednesday. Wingstop Inc. has a 1-year low of $172.09 and a 1-year high of $433.86. The business has a 50 day moving average of $392.32 and a 200 day moving average of $387.29. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 143.60, a PEG ratio of 4.15 and a beta of 1.71.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The firm had revenue of $155.70 million during the quarter, compared to analyst estimates of $146.04 million. During the same period in the previous year, the business posted $0.57 EPS. The business’s quarterly revenue was up 45.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Wingstop Inc. will post 3.78 EPS for the current 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. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.08 annualized dividend and a dividend yield of 0.27%. This is an increase from Wingstop’s previous quarterly dividend of $0.22. Wingstop’s payout ratio is currently 38.43%.

Wall Street Analyst Weigh In

Several research firms have commented on WING. Morgan Stanley upped their price objective on shares of Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, July 16th. Barclays upped their price target 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. BMO Capital Markets lifted their price objective on shares of Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Citigroup increased their target price on Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Finally, Stephens reiterated an “overweight” rating and issued a $475.00 price target on shares of Wingstop in a research report on Wednesday, August 14th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $382.00.

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.