Canada Pension Plan Investment Board Sells 3,500 Shares of Wingstop Inc. (NASDAQ:WING)

Canada Pension Plan Investment Board lessened its stake in Wingstop Inc. (NASDAQ:WING) by 45.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,200 shares of the restaurant operator’s stock after selling 3,500 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Wingstop were worth $1,775,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. CIBC Asset Management Inc lifted its stake in Wingstop by 3.7% in the 2nd quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock worth $347,000 after purchasing an additional 29 shares in the last quarter. Congress Asset Management Co. MA lifted its position in shares of Wingstop by 0.3% in the fourth quarter. Congress Asset Management Co. MA now owns 11,380 shares of the restaurant operator’s stock worth $2,920,000 after buying an additional 34 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Wingstop by 60.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after buying an additional 35 shares during the last quarter. GAMMA Investing LLC grew its holdings in Wingstop by 53.3% during the 1st quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock valued at $42,000 after buying an additional 40 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in Wingstop by 2.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,294 shares of the restaurant operator’s stock worth $969,000 after acquiring an additional 47 shares during the last quarter.

Insider Activity

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the transaction, the senior vice president now directly owns 97 shares in the company, valued at approximately $36,152.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

WING has been the subject of a number of recent research reports. Stephens reissued an “overweight” rating and issued a $475.00 target price on shares of Wingstop in a report on Wednesday, August 14th. TD Cowen restated a “buy” rating and issued a $450.00 target price on shares of Wingstop in a report on Wednesday, July 31st. Piper Sandler increased 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. Truist Financial boosted their price objective on Wingstop from $407.00 to $423.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, Raymond James raised Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research note on Thursday, August 1st. Eleven investment 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 has an average rating of “Hold” and a consensus target price of $379.53.

Wingstop Price Performance

Wingstop stock opened at $426.46 on Friday. The stock has a market cap of $12.50 billion, a price-to-earnings ratio of 151.77, a price-to-earnings-growth ratio of 4.26 and a beta of 1.71. The firm has a 50-day moving average of $385.89 and a two-hundred day moving average of $383.01. Wingstop Inc. has a 1 year low of $170.83 and a 1 year high of $433.86.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share (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 during the quarter, compared to analyst estimates of $146.04 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. Wingstop’s quarterly revenue was up 45.3% on a year-over-year basis. Research analysts expect that Wingstop Inc. will post 3.78 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 given a dividend of $0.27 per share. This is an increase from Wingstop’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.25%. Wingstop’s dividend payout ratio is presently 38.43%.

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.