Congress Asset Management Co. MA Sells 760 Shares of Wingstop Inc. (NASDAQ:WING)

Congress Asset Management Co. MA lowered its position in Wingstop Inc. (NASDAQ:WING) by 6.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 10,620 shares of the restaurant operator’s stock after selling 760 shares during the quarter. Congress Asset Management Co. MA’s holdings in Wingstop were worth $3,891,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new position in shares of Wingstop in the fourth quarter worth about $28,000. Rise Advisors LLC purchased a new stake in Wingstop during the 1st quarter valued at approximately $29,000. FSC Wealth Advisors LLC bought a new stake in shares of Wingstop during the fourth quarter valued at approximately $39,000. GAMMA Investing LLC lifted its holdings in shares of Wingstop by 53.3% in the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after buying an additional 40 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Wingstop during the fourth quarter worth $47,000.

Wall Street Analyst Weigh In

A number of analysts have issued reports on WING shares. Benchmark reiterated a “hold” rating on shares of Wingstop in a report on Thursday, May 2nd. Truist Financial increased their price target on Wingstop from $320.00 to $345.00 and gave the company a “hold” rating in a research note on Thursday, May 2nd. Barclays lifted their price objective on Wingstop from $350.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Stifel Nicolaus increased their target price on Wingstop from $420.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, Morgan Stanley raised their target price on shares of Wingstop from $280.00 to $315.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $343.37.

Wingstop Price Performance

Shares of NASDAQ WING opened at $414.76 on Friday. The firm has a 50-day simple moving average of $386.25 and a two-hundred day simple moving average of $333.18. Wingstop Inc. has a 1 year low of $150.08 and a 1 year high of $430.20. The company has a market cap of $12.15 billion, a P/E ratio of 147.60, a PEG ratio of 5.23 and a beta of 1.70.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.22. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The company had revenue of $145.70 million during the quarter, compared to analysts’ expectations of $136.34 million. During the same quarter in the previous year, the business earned $0.59 EPS. Wingstop’s revenue was up 34.0% compared to the same quarter last year. As a group, equities research analysts expect that Wingstop Inc. will post 3.4 EPS for the current year.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Thursday, May 16th. Wingstop’s payout ratio is presently 31.32%.

Insider Buying and Selling

In other Wingstop news, Director Kilandigalu Madati sold 645 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $395.74, for a total value of $255,252.30. Following the transaction, the director now directly owns 5,147 shares in the company, valued at approximately $2,036,873.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Wingstop news, Director Kilandigalu Madati sold 645 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $395.74, for a total value of $255,252.30. Following the completion of the sale, the director now directly owns 5,147 shares in the company, valued at approximately $2,036,873.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ania Smith sold 566 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $380.91, for a total value of $215,595.06. Following the transaction, the director now owns 1,164 shares in the company, valued at approximately $443,379.24. The disclosure for this sale can be found here. Insiders have sold 6,191 shares of company stock valued at $2,443,547 in the last 90 days. Company insiders own 0.36% of the company’s stock.

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.