Wingstop Inc. (NASDAQ:WING) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in Wingstop Inc. (NASDAQ:WING) by 147.9% in the third quarter, HoldingsChannel.com reports. The fund owned 62,040 shares of the restaurant operator’s stock after purchasing an additional 37,015 shares during the quarter. Victory Capital Management Inc.’s holdings in Wingstop were worth $25,814,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Wingstop by 3.7% in 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 purchasing an additional 104,780 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Wingstop by 94.7% during the first quarter. Acadian Asset Management LLC now owns 2,303 shares of the restaurant operator’s stock valued at $842,000 after buying an additional 1,120 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Wingstop by 27.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,723 shares of the restaurant operator’s stock worth $631,000 after acquiring an additional 369 shares during the last quarter. Seven Eight Capital LP acquired a new position in Wingstop in the 1st quarter valued at $2,264,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Wingstop by 23.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 20,063 shares of the restaurant operator’s stock valued at $7,342,000 after acquiring an additional 3,848 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Piper Sandler lowered their price objective on Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price target for the company in a report on Thursday, October 31st. Benchmark upgraded shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price objective on the stock in a report on Thursday, October 31st. The Goldman Sachs Group upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and lowered their target price for the company from $458.00 to $377.00 in a report on Friday, November 8th. Finally, Truist Financial increased their price target on shares of Wingstop from $407.00 to $423.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $368.74.

Wingstop Stock Performance

Shares of NASDAQ:WING opened at $316.68 on Monday. The business’s 50-day simple moving average is $376.42 and its 200 day simple moving average is $384.42. The company has a market cap of $9.25 billion, a P/E ratio of 92.33, a PEG ratio of 2.95 and a beta of 1.76. Wingstop Inc. has a one year low of $223.30 and a one year high of $433.86.

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

Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $0.27 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a yield of 0.34%. Wingstop’s payout ratio is currently 31.49%.

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.