Allspring Global Investments Holdings LLC Sells 90,434 Shares of Wingstop Inc. (NASDAQ:WING)

Allspring Global Investments Holdings LLC lowered its stake in shares of Wingstop Inc. (NASDAQ:WING) by 30.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 205,896 shares of the restaurant operator’s stock after selling 90,434 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.70% of Wingstop worth $75,440,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. WoodTrust Financial Corp acquired a new position in Wingstop in the first quarter valued at about $284,000. Riverview Trust Co acquired a new position in shares of Wingstop in the 1st quarter valued at approximately $66,000. Capital CS Group LLC bought a new stake in Wingstop during the 1st quarter worth approximately $616,000. BTC Capital Management Inc. acquired a new stake in Wingstop during the 1st quarter worth approximately $363,000. Finally, Wedmont Private Capital bought a new position in Wingstop in the first quarter valued at approximately $203,000.

Analyst Ratings Changes

A number of brokerages have recently commented on WING. TD Cowen boosted their price objective on shares of Wingstop from $430.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Robert W. Baird raised their price target on Wingstop from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Barclays increased 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. Jefferies Financial Group boosted their price objective on Wingstop from $310.00 to $335.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. Finally, BMO Capital Markets increased their target price on Wingstop from $275.00 to $325.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $352.39.

Insiders Place Their Bets

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

Wingstop Stock Performance

Shares of NASDAQ WING traded down $5.58 during trading on Tuesday, hitting $419.06. 22,638 shares of the company traded hands, compared to its average volume of 454,756. The business’s fifty day moving average is $393.83 and its 200 day moving average is $341.12. Wingstop Inc. has a fifty-two week low of $150.08 and a fifty-two week high of $431.03. The firm has a market capitalization of $12.28 billion, a price-to-earnings ratio of 151.12, a P/E/G ratio of 5.41 and a beta of 1.69.

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

Wingstop Dividend Announcement

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

Wingstop 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.