Covestor Ltd Purchases 85 Shares of Wingstop Inc. (NASDAQ:WING)

Covestor Ltd lifted its holdings in Wingstop Inc. (NASDAQ:WING) by 29.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 376 shares of the restaurant operator’s stock after buying an additional 85 shares during the period. Covestor Ltd’s holdings in Wingstop were worth $157,000 at the end of the most recent quarter.

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

Wingstop Trading Up 1.0 %

NASDAQ:WING opened at $343.51 on Tuesday. The company has a market cap of $10.03 billion, a P/E ratio of 100.15, a P/E/G ratio of 3.17 and a beta of 1.76. Wingstop Inc. has a twelve month low of $210.94 and a twelve month high of $433.86. The company’s 50-day moving average price is $379.68 and its 200-day moving average price is $385.91.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.09). The business had revenue of $162.50 million during the quarter, compared to analysts’ expectations of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The company’s revenue was up 38.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 earnings per share. On average, analysts expect that Wingstop Inc. will post 3.68 earnings per share for the current year.

Wingstop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Friday, November 15th. Wingstop’s dividend payout ratio (DPR) is currently 31.49%.

Analysts Set New Price Targets

Several equities analysts have weighed in on WING shares. Truist Financial increased their price objective on Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Northcoast Research raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a research note on Friday, November 1st. The Goldman Sachs Group upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $458.00 to $377.00 in a research report on Friday. Citigroup upped their price target on shares of Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Finally, Raymond James raised shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.74.

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.