Wingstop Inc. (NASDAQ:WING) Stake Increased by Millennium Management LLC

Millennium Management LLC lifted its holdings in Wingstop Inc. (NASDAQ:WING) by 284.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 383,184 shares of the restaurant operator’s stock after buying an additional 283,412 shares during the period. Millennium Management LLC’s holdings in Wingstop were worth $161,957,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of WING. Hollencrest Capital Management acquired a new position in Wingstop in the 2nd quarter valued at approximately $27,000. Rise Advisors LLC purchased a new position in shares of Wingstop during the 1st quarter valued at $29,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Wingstop during the 2nd quarter valued at $34,000. Massmutual Trust Co. FSB ADV increased 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 worth $39,000 after acquiring an additional 35 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 40 shares in the last quarter.

Insider Activity at Wingstop

In related news, SVP Donnie Upshaw sold 3,199 shares of the business’s 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 transaction, the senior vice president now directly owns 97 shares in the company, valued at $36,152.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.36% of the stock is owned by corporate insiders.

Wingstop Stock Down 3.5 %

Shares of NASDAQ WING opened at $411.44 on Friday. Wingstop Inc. has a 12 month low of $170.83 and a 12 month high of $433.86. The company has a market cap of $12.06 billion, a P/E ratio of 146.42, a P/E/G ratio of 4.26 and a beta of 1.71. The business’s 50 day moving average is $386.73 and its two-hundred day moving average is $383.55.

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. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The business had revenue of $155.70 million for the quarter, compared to analyst estimates of $146.04 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Wingstop’s revenue was up 45.3% compared to the same quarter last year. Sell-side analysts expect that Wingstop Inc. will post 3.78 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. Stockholders of record on Friday, August 16th were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 16th. 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. Wingstop’s dividend payout ratio is currently 38.43%.

Wall Street Analyst Weigh In

A number of brokerages have commented on WING. BMO Capital Markets boosted their target price on Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their price objective on Wingstop from $407.00 to $458.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. TD Cowen reaffirmed a “buy” rating and set a $450.00 price objective on shares of Wingstop in a research report on Wednesday, July 31st. Wedbush boosted their target price on shares of Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Finally, Barclays raised their price target on shares of Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $379.53.

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.