Park Avenue Securities LLC Cuts Position in Wingstop Inc. (NASDAQ:WING)

Park Avenue Securities LLC trimmed its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 3.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,879 shares of the restaurant operator’s stock after selling 99 shares during the quarter. Park Avenue Securities LLC’s holdings in Wingstop were worth $1,198,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, SVP Donnie Upshaw sold 3,199 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was 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 owns 97 shares in the company, valued at $36,152.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

WING has been the topic of a number of recent research reports. Stephens reaffirmed an “overweight” rating and set a $475.00 price target on shares of Wingstop in a research report on Wednesday, August 14th. Truist Financial increased their target price on shares of Wingstop from $407.00 to $423.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. TD Cowen reissued a “buy” rating and issued a $450.00 price target on shares of Wingstop in a research report on Wednesday, July 31st. Wedbush raised their price objective on shares of Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Finally, The Goldman Sachs Group increased their target price on Wingstop from $407.00 to $458.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $382.00.

Wingstop Stock Performance

NASDAQ:WING opened at $403.52 on Wednesday. Wingstop Inc. has a fifty-two week low of $172.09 and a fifty-two week high of $433.86. The firm has a market cap of $11.82 billion, a PE ratio of 143.60, a price-to-earnings-growth ratio of 4.15 and a beta of 1.71. The business has a 50 day moving average price of $392.32 and a 200-day moving average price of $387.29.

Wingstop (NASDAQ:WING) last announced its quarterly 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. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The business had revenue of $155.70 million during the quarter, compared to analysts’ expectations of $146.04 million. During the same quarter in the prior year, the company posted $0.57 EPS. The firm’s revenue for the quarter was up 45.3% compared to the same quarter last year. Research analysts predict that Wingstop Inc. will post 3.78 EPS for the current year.

Wingstop Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were given a dividend of $0.27 per share. This is a positive change from Wingstop’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, August 16th. This represents a $1.08 dividend on an annualized basis and a yield of 0.27%. 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.