Truist Financial Corp Sells 289 Shares of Wingstop Inc. (NASDAQ:WING)

Truist Financial Corp cut its stake in shares of Wingstop Inc. (NASDAQ:WING) by 14.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,666 shares of the restaurant operator’s stock after selling 289 shares during the quarter. Truist Financial Corp’s holdings in Wingstop were worth $704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of WING. Goldman Sachs Group Inc. lifted its position in Wingstop by 14.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 279,938 shares of the restaurant operator’s stock worth $71,827,000 after buying an additional 36,017 shares during the last quarter. Congress Asset Management Co. MA lifted its holdings in shares of Wingstop by 0.3% in the 4th quarter. Congress Asset Management Co. MA now owns 11,380 shares of the restaurant operator’s stock worth $2,920,000 after acquiring an additional 34 shares during the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of Wingstop in the 4th quarter valued at $395,000. Kapitalo Investimentos Ltda bought a new position in shares of Wingstop during the 4th quarter valued at $86,000. Finally, Symmetry Partners LLC purchased a new position in Wingstop in the 1st quarter worth $247,000.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. TD Cowen reissued a “buy” rating and set a $450.00 price objective on shares of Wingstop in a research note on Wednesday, July 31st. Stephens reissued an “overweight” rating and issued a $475.00 price target on shares of Wingstop in a report on Wednesday, August 14th. 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 research note on Tuesday, July 16th. Barclays raised their target price on Wingstop from $418.00 to $425.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus upped their price target on Wingstop from $420.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Ten 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.com, Wingstop presently has a consensus rating of “Hold” and an average target price of $382.00.

Insider Buying and Selling at Wingstop

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

Wingstop Stock Performance

WING opened at $399.05 on Tuesday. Wingstop Inc. has a fifty-two week low of $173.74 and a fifty-two week high of $433.86. The stock has a market capitalization of $11.69 billion, a price-to-earnings ratio of 142.01, a PEG ratio of 3.94 and a beta of 1.71. The company has a fifty day moving average of $395.12 and a two-hundred day moving average of $388.27.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, beating analysts’ consensus estimates 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 prior year, the firm posted $0.57 earnings per share. The firm’s quarterly revenue was up 45.3% on a year-over-year basis. On average, equities research analysts forecast that Wingstop Inc. will post 3.79 earnings per share for the current year.

Wingstop Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were paid 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 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Friday, August 16th. 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.