Envestnet Asset Management Inc. Has $29.07 Million Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Envestnet Asset Management Inc. decreased its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 8.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 68,781 shares of the restaurant operator’s stock after selling 6,070 shares during the period. Envestnet Asset Management Inc.’s holdings in Wingstop were worth $29,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in WING. Rise Advisors LLC acquired a new stake in Wingstop during the 1st quarter valued at $29,000. Ashton Thomas Private Wealth LLC bought a new position in Wingstop during the 2nd quarter worth $34,000. Massmutual Trust Co. FSB ADV increased its position in Wingstop by 60.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after buying an additional 35 shares during the period. GAMMA Investing LLC increased its position in Wingstop by 53.3% during the 1st quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after buying an additional 40 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new position in Wingstop during the 4th quarter worth $47,000.

Wingstop Stock Down 0.4 %

Wingstop stock opened at $419.90 on Friday. Wingstop Inc. has a 12-month low of $166.65 and a 12-month high of $431.03. The business’s 50-day moving average price is $381.87 and its two-hundred day moving average price is $381.43. The stock has a market cap of $12.30 billion, a PE ratio of 149.43, a P/E/G ratio of 4.09 and a beta of 1.71.

Wingstop (NASDAQ:WING) last announced 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. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. The firm had revenue of $155.70 million for the quarter, compared to analyst estimates of $146.04 million. During the same period last year, the firm posted $0.57 earnings per share. The business’s revenue for the quarter was up 45.3% on a year-over-year basis. As a group, analysts expect that Wingstop Inc. will post 3.77 earnings per share for the current year.

Wingstop Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a dividend of $0.27 per share. 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. The ex-dividend date was Friday, August 16th. Wingstop’s dividend payout ratio (DPR) is presently 38.43%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays increased their price objective on Wingstop from $418.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wedbush increased their price objective on Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. TD Cowen reiterated a “buy” rating and set a $450.00 price objective on shares of Wingstop in a research report on Wednesday, July 31st. Morgan Stanley raised their price target on Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 16th. Finally, Piper Sandler raised 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. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Wingstop presently has a consensus rating of “Hold” and an average target price of $379.53.

Insider Activity

In other news, SVP Donnie Upshaw sold 3,199 shares of Wingstop 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 sale, the senior vice president now directly owns 97 shares of the company’s stock, valued at $36,152.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.36% of the company’s stock.

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.