Wingstop Inc. (NASDAQ:WING) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its holdings in Wingstop Inc. (NASDAQ:WING) by 14.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,666 shares of the restaurant operator’s stock after selling 289 shares during the quarter. Truist Financial Corp’s holdings in Wingstop were worth $704,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Millennium Management LLC lifted its holdings in Wingstop by 284.1% in the second quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock valued at $161,957,000 after acquiring an additional 283,412 shares during the period. Renaissance Technologies LLC grew its position in Wingstop by 36.6% during the second quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock worth $254,860,000 after buying an additional 161,600 shares during the period. AQR Capital Management LLC increased its holdings in Wingstop by 66.6% in the second quarter. AQR Capital Management LLC now owns 325,920 shares of the restaurant operator’s stock valued at $137,753,000 after buying an additional 130,248 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Wingstop by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock valued at $1,071,473,000 after acquiring an additional 104,780 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Wingstop by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator’s stock worth $833,026,000 after acquiring an additional 101,917 shares in the last quarter.

Insider Activity at Wingstop

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the company’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 completion of the sale, the senior vice president now directly owns 97 shares in the company, valued at $36,152.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.36% of the stock is owned by insiders.

Wingstop Trading Down 1.2 %

Shares of NASDAQ:WING opened at $399.05 on Tuesday. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 142.01, a PEG ratio of 3.94 and a beta of 1.71. Wingstop Inc. has a 12-month low of $173.74 and a 12-month high of $433.86. The stock’s 50-day moving average price is $395.12 and its two-hundred day moving average price is $388.27.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. The firm had revenue of $155.70 million during the quarter, compared to analyst estimates of $146.04 million. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. Wingstop’s revenue for the quarter was up 45.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 earnings per share. As a group, research analysts forecast that Wingstop Inc. will post 3.79 earnings per share for the current fiscal year.

Wingstop Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Stephens reaffirmed an “overweight” rating and issued a $475.00 price objective on shares of Wingstop in a research note on Wednesday, August 14th. 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 note on Thursday, August 1st. Truist Financial increased their price objective on shares of Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Piper Sandler upped their price target on shares of Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus increased their price target on shares of Wingstop from $420.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Wingstop has a consensus rating of “Hold” and a consensus price target of $382.00.

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.