PNC Financial Services Group Inc. Decreases Holdings in Wingstop Inc. (NASDAQ:WING)

PNC Financial Services Group Inc. cut its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,382 shares of the restaurant operator’s stock after selling 39 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Wingstop were worth $868,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in WING. Franklin Resources Inc. grew its holdings in shares of Wingstop by 155.7% in the fourth quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock worth $224,093,000 after purchasing an additional 531,880 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Wingstop in the fourth quarter worth approximately $103,899,000. American Century Companies Inc. grew its holdings in shares of Wingstop by 29.4% in the third quarter. American Century Companies Inc. now owns 1,626,558 shares of the restaurant operator’s stock worth $292,520,000 after purchasing an additional 370,032 shares during the last quarter. Norges Bank bought a new position in shares of Wingstop in the fourth quarter worth approximately $80,423,000. Finally, 1832 Asset Management L.P. bought a new position in shares of Wingstop in the fourth quarter worth approximately $78,616,000.

Insider Buying and Selling at Wingstop

In other Wingstop news, SVP Albert G. Mcgrath sold 4,230 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $396.40, for a total transaction of $1,676,772.00. Following the transaction, the senior vice president now owns 8,170 shares in the company, valued at approximately $3,238,588. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kate S. Lavelle sold 750 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $394.57, for a total transaction of $295,927.50. Following the completion of the sale, the director now owns 3,567 shares of the company’s stock, valued at approximately $1,407,431.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Albert G. Mcgrath sold 4,230 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $396.40, for a total transaction of $1,676,772.00. Following the sale, the senior vice president now directly owns 8,170 shares of the company’s stock, valued at approximately $3,238,588. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,191 shares of company stock worth $2,443,547. Company insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

WING has been the topic of several recent analyst reports. Citigroup raised their target price on shares of Wingstop from $375.00 to $398.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Morgan Stanley lifted their price target 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. Barclays lifted their price target on shares of Wingstop from $350.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. The Goldman Sachs Group started coverage on shares of Wingstop in a report on Thursday, June 13th. They issued a “neutral” rating and a $407.00 price target on the stock. Finally, Truist Financial lifted their price target on shares of Wingstop from $320.00 to $345.00 and gave the company a “hold” rating in a report on Thursday, May 2nd. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Wingstop presently has an average rating of “Hold” and a consensus price target of $343.37.

Wingstop Price Performance

Shares of Wingstop stock opened at $411.03 on Tuesday. The stock has a market cap of $12.04 billion, a price-to-earnings ratio of 146.27, a PEG ratio of 5.23 and a beta of 1.70. The firm’s 50-day moving average is $387.30 and its 200 day moving average is $334.95. Wingstop Inc. has a 1 year low of $150.08 and a 1 year high of $430.20.

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

Wingstop Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend was Thursday, May 16th. Wingstop’s dividend payout ratio is currently 31.32%.

Wingstop Company Profile

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.