Wingstop Inc. (NASDAQ:WING) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC cut its holdings in Wingstop Inc. (NASDAQ:WING) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 741 shares of the restaurant operator’s stock after selling 39 shares during the period. Bleakley Financial Group LLC’s holdings in Wingstop were worth $308,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Illinois Municipal Retirement Fund acquired a new stake in shares of Wingstop during the 1st quarter worth $1,355,000. CWM LLC increased its holdings in shares of Wingstop by 206.6% during the 2nd quarter. CWM LLC now owns 2,287 shares of the restaurant operator’s stock worth $967,000 after buying an additional 1,541 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Wingstop by 1,308.1% during the 1st quarter. BNP Paribas Financial Markets now owns 24,951 shares of the restaurant operator’s stock worth $9,142,000 after buying an additional 23,179 shares during the last quarter. Hancock Whitney Corp acquired a new stake in shares of Wingstop during the 1st quarter worth $1,696,000. Finally, Driehaus Capital Management LLC increased its holdings in shares of Wingstop by 4.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 193,307 shares of the restaurant operator’s stock worth $81,703,000 after buying an additional 7,600 shares during the last quarter.

Insider Buying and Selling

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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.36% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WING has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Stephens reiterated an “overweight” rating and issued a $475.00 price target on shares of Wingstop in a report on Wednesday, August 14th. Morgan Stanley increased their price target 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 reiterated a “buy” rating and issued a $450.00 price target on shares of Wingstop in a report on Wednesday, July 31st. Finally, Truist Financial increased their price target on Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $382.00.

Wingstop Stock Performance

Shares of WING stock opened at $366.61 on Thursday. Wingstop Inc. has a one year low of $173.74 and a one year high of $433.86. The company’s 50-day simple moving average is $395.62 and its 200-day simple moving average is $388.71. The stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of 130.47, a PEG ratio of 3.69 and a beta of 1.71.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $146.04 million. During the same quarter last year, the company posted $0.57 earnings per share. The company’s quarterly revenue was up 45.3% compared to the same quarter last year. As a group, research analysts forecast that Wingstop Inc. will post 3.79 EPS 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 dividend of $0.27 per share. This is a positive change from Wingstop’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.08 annualized dividend and a yield of 0.29%. Wingstop’s dividend payout ratio is 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.