Bank of Montreal Can Acquires 16,712 Shares of Wingstop Inc. (NASDAQ:WING)

Bank of Montreal Can grew its holdings in Wingstop Inc. (NASDAQ:WING) by 49.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,495 shares of the restaurant operator’s stock after acquiring an additional 16,712 shares during the period. Bank of Montreal Can’s holdings in Wingstop were worth $21,543,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. CIBC Asset Management Inc raised its holdings in Wingstop by 3.7% during the second quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock valued at $347,000 after buying an additional 29 shares in the last quarter. Congress Asset Management Co. MA raised its stake in shares of Wingstop by 0.3% in the 4th quarter. Congress Asset Management Co. MA now owns 11,380 shares of the restaurant operator’s stock valued at $2,920,000 after acquiring an additional 34 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after purchasing an additional 35 shares during the last quarter. GAMMA Investing LLC boosted its position in Wingstop by 53.3% during the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 40 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its position in Wingstop by 2.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 2,294 shares of the restaurant operator’s stock worth $969,000 after purchasing an additional 47 shares during the period.

Wingstop Price Performance

Shares of NASDAQ:WING opened at $411.44 on Friday. The business’s fifty day moving average price is $386.73 and its two-hundred day moving average price is $383.55. Wingstop Inc. has a fifty-two week low of $170.83 and a fifty-two week high of $433.86. The stock has a market capitalization of $12.06 billion, a price-to-earnings ratio of 146.42, a price-to-earnings-growth ratio of 4.26 and a beta of 1.71.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. The business had revenue of $155.70 million during the quarter, compared to analysts’ expectations of $146.04 million. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The firm’s revenue for the quarter was up 45.3% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS. Research analysts expect that Wingstop Inc. will post 3.78 EPS for the current fiscal year.

Wingstop Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a $0.27 dividend. The ex-dividend date was Friday, August 16th. This is a positive change from Wingstop’s previous quarterly dividend of $0.22. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.26%. Wingstop’s dividend payout ratio (DPR) is 38.43%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a research report on Friday, August 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 note on Tuesday, June 18th. The Goldman Sachs Group lifted their price target on Wingstop from $407.00 to $458.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Stephens reissued an “overweight” rating and issued a $475.00 price objective on shares of Wingstop in a research report on Wednesday, August 14th. Finally, Raymond James raised shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Thursday, August 1st. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Wingstop currently has an average rating of “Hold” and a consensus target price of $379.53.

Insider Activity at Wingstop

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $372.71, for a total value of $1,192,299.29. Following the completion of the transaction, the senior vice president now directly owns 97 shares of the company’s stock, valued at $36,152.87. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.36% of the stock is currently owned by company insiders.

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.