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

Delap Wealth Advisory LLC bought a new stake in Wingstop Inc. (NASDAQ:WING) in the second quarter, Holdings Channel.com reports. The institutional investor bought 1,120 shares of the restaurant operator’s stock, valued at approximately $473,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in shares of Wingstop in the second quarter valued at $27,000. Rise Advisors LLC bought a new position in shares of Wingstop in the first quarter valued at $29,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Wingstop in the second quarter valued at $34,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Wingstop by 60.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after buying an additional 35 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Wingstop by 53.3% in the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock valued at $42,000 after buying an additional 40 shares in the last quarter.

Insider Buying and Selling

In other Wingstop 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 transaction of $1,192,299.29. Following the completion of the transaction, the senior vice president now owns 97 shares of the company’s stock, valued at approximately $36,152.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.36% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WING has been the topic of several recent analyst reports. Stephens restated an “overweight” rating and set a $475.00 price objective on shares of Wingstop in a research note on Wednesday, August 14th. Stifel Nicolaus boosted their price target on shares of Wingstop from $420.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. TD Cowen reiterated a “buy” rating and issued a $450.00 price objective on shares of Wingstop in a research note on Wednesday, July 31st. Truist Financial lifted their target price on shares of Wingstop from $407.00 to $423.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Piper Sandler increased their price target on Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Wingstop currently has a consensus rating of “Hold” and a consensus price target of $379.53.

Wingstop Stock Down 0.4 %

Shares of NASDAQ:WING opened at $419.90 on Friday. The firm has a market capitalization of $12.30 billion, a PE ratio of 149.43, a P/E/G ratio of 4.09 and a beta of 1.71. The company has a 50-day moving average price of $381.87 and a two-hundred day moving average price of $381.43. Wingstop Inc. has a twelve month low of $166.65 and a twelve month high of $431.03.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The company had revenue of $155.70 million for the quarter, compared to analysts’ expectations of $146.04 million. During the same period in the prior year, the company posted $0.57 EPS. Wingstop’s revenue was up 45.3% compared to the same quarter last year. Analysts anticipate that Wingstop Inc. will post 3.77 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The business 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 represents a $1.08 dividend on an annualized basis and a dividend yield of 0.26%. 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. Wingstop’s payout ratio is presently 38.43%.

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.