Oppenheimer Asset Management Inc. Has $1.66 Million Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Oppenheimer Asset Management Inc. decreased its position in Wingstop Inc. (NASDAQ:WING) by 16.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,926 shares of the restaurant operator’s stock after selling 759 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Wingstop were worth $1,659,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in shares of Wingstop by 155.7% in the 4th quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock valued at $224,093,000 after purchasing an additional 531,880 shares during the period. Norges Bank acquired a new stake in shares of Wingstop in the fourth quarter valued at approximately $80,423,000. 1832 Asset Management L.P. bought a new stake in Wingstop during the 4th quarter worth about $78,616,000. Vanguard Group Inc. raised its holdings in Wingstop by 3.7% during the first quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock worth $1,071,473,000 after acquiring an additional 104,780 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 buying an additional 101,917 shares during the last quarter.

Wingstop Price Performance

Wingstop stock opened at $412.70 on Thursday. The company has a market capitalization of $12.09 billion, a P/E ratio of 146.87, a P/E/G ratio of 4.09 and a beta of 1.71. Wingstop Inc. has a 1 year low of $166.65 and a 1 year high of $431.03. The business has a 50 day moving average of $379.67 and a 200-day moving average of $380.43.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. The business had revenue of $155.70 million for 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 business’s quarterly revenue was up 45.3% on a year-over-year basis. During the same period last year, the business earned $0.57 earnings per share. Equities analysts anticipate that Wingstop Inc. will post 3.77 EPS for the current year.

Wingstop Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 16th. This is an increase from Wingstop’s previous quarterly dividend of $0.22. This represents a $1.08 annualized dividend and a yield of 0.26%. Wingstop’s payout ratio is currently 38.43%.

Analysts Set New Price Targets

A number of brokerages have weighed in on WING. Piper Sandler boosted their price target on Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. 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 report on Thursday, August 1st. Stephens reaffirmed an “overweight” rating and issued a $475.00 price target on shares of Wingstop in a research note on Wednesday, August 14th. Truist Financial boosted their price objective on shares of Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Wedbush raised their target price on Wingstop from $425.00 to $440.00 and gave the company an “outperform” rating in a report on Monday. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Wingstop has an average rating of “Hold” and a consensus price target of $379.53.

Insiders Place Their Bets

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

About Wingstop

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.