Intech Investment Management LLC Makes New Investment in Wingstop Inc. (NASDAQ:WING)

Intech Investment Management LLC purchased a new position in shares of Wingstop Inc. (NASDAQ:WING) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 14,169 shares of the restaurant operator’s stock, valued at approximately $5,989,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WING. Rise Advisors LLC purchased a new stake in shares of Wingstop during the 1st quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Wingstop during the 2nd quarter worth approximately $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 worth $39,000 after buying an additional 35 shares during the last quarter. GAMMA Investing LLC lifted its position 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 buying an additional 40 shares during the last quarter. Finally, Family Firm Inc. purchased a new stake in shares of Wingstop during the 2nd quarter worth approximately $62,000.

Insider Activity at Wingstop

In related news, SVP Donnie Upshaw sold 3,199 shares of the stock in a transaction dated 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 directly owns 97 shares of the company’s stock, valued at approximately $36,152.87. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on WING shares. TD Cowen restated a “buy” rating and set a $450.00 price objective on shares of Wingstop in a research report on Wednesday, July 31st. Wedbush upped their price target on shares of Wingstop from $425.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Truist Financial upped their price target on shares of Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. 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 report on Thursday, August 1st. Finally, Piper Sandler upped their price target on shares of Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Wingstop has an average rating of “Hold” and an average target price of $379.53.

Wingstop Stock Down 0.4 %

NASDAQ:WING opened at $419.90 on Friday. Wingstop Inc. has a fifty-two week low of $166.65 and a fifty-two week high of $431.03. The stock has a market cap of $12.30 billion, a PE ratio of 149.43, a price-to-earnings-growth ratio of 4.09 and a beta of 1.71. The firm’s fifty day simple moving average is $381.87 and its 200-day simple moving average is $381.43.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results 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. The business had revenue of $155.70 million for the quarter, compared to analysts’ expectations of $146.04 million. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The business’s revenue for the quarter was up 45.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 EPS. Equities analysts anticipate that Wingstop Inc. will post 3.77 earnings per share for the current year.

Wingstop Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.26%. This is a boost from Wingstop’s previous quarterly dividend of $0.22. The ex-dividend date 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.