Delap Wealth Advisory LLC Makes New $473,000 Investment in Wingstop Inc. (NASDAQ:WING)

Delap Wealth Advisory LLC bought a new position in shares of Wingstop Inc. (NASDAQ:WING) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,120 shares of the restaurant operator’s stock, valued at approximately $473,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in WING. Capstone Investment Advisors LLC raised its stake in Wingstop by 235.2% in the fourth quarter. Capstone Investment Advisors LLC now owns 10,825 shares of the restaurant operator’s stock valued at $2,777,000 after purchasing an additional 7,596 shares in the last quarter. Illinois Municipal Retirement Fund bought a new stake in shares of Wingstop during the 1st quarter worth approximately $1,355,000. Goldman Sachs Group Inc. boosted its position in shares of Wingstop by 14.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 279,938 shares of the restaurant operator’s stock worth $71,827,000 after acquiring an additional 36,017 shares in the last quarter. Axiom Investors LLC DE bought a new position in Wingstop in the fourth quarter valued at approximately $11,006,000. Finally, Virtu Financial LLC bought a new position in Wingstop in the fourth quarter valued at approximately $807,000.

Analyst Ratings Changes

WING has been the topic of a number of research analyst reports. Barclays raised their target price on Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Morgan Stanley raised their target price on Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, July 16th. TD Cowen reaffirmed a “buy” rating and issued a $450.00 target price on shares of Wingstop in a report on Wednesday, July 31st. Raymond James raised Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Thursday, August 1st. Finally, Piper Sandler raised their target price on Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $379.53.

Wingstop Stock Down 0.4 %

Shares of NASDAQ:WING opened at $419.90 on Friday. The firm has a market cap of $12.30 billion, a P/E ratio of 149.43, a P/E/G ratio of 4.09 and a beta of 1.71. Wingstop Inc. has a 12-month low of $166.65 and a 12-month high of $431.03. The business has a fifty day simple moving average of $381.87 and a 200 day simple moving average of $381.43.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.11. The business had revenue of $155.70 million during the quarter, compared to analyst estimates of $146.04 million. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. Wingstop’s revenue for the quarter was up 45.3% compared to the same quarter last year. During the same period last year, the company earned $0.57 EPS. As a group, equities research analysts expect that Wingstop Inc. will post 3.77 EPS for the current year.

Wingstop Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors 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. This represents a $1.08 annualized dividend and a yield of 0.26%. The ex-dividend date was Friday, August 16th. Wingstop’s dividend payout ratio (DPR) is currently 38.43%.

Insider Buying and Selling

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

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.