AE Wealth Management LLC Takes Position in Wingstop Inc. (NASDAQ:WING)

AE Wealth Management LLC acquired a new position in Wingstop Inc. (NASDAQ:WING) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 540 shares of the restaurant operator’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. 1832 Asset Management L.P. bought a new position in Wingstop during the 4th quarter worth approximately $78,616,000. Renaissance Technologies LLC raised its stake in Wingstop by 36.6% during the second quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock worth $254,860,000 after buying an additional 161,600 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Wingstop by 3.7% in the first quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock valued at $1,071,473,000 after buying an additional 104,780 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Wingstop by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator’s stock worth $833,026,000 after acquiring an additional 101,917 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Wingstop during the 1st quarter worth about $36,867,000.

Wingstop Trading Down 3.5 %

NASDAQ WING opened at $411.44 on Friday. The business has a fifty day simple moving average of $386.73 and a 200 day simple moving average of $383.79. Wingstop Inc. has a 12 month low of $170.83 and a 12 month high of $433.86. The firm has a market capitalization of $12.06 billion, a P/E ratio of 146.42, a PEG ratio of 4.26 and a beta of 1.71.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, beating the consensus estimate of $0.82 by $0.11. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The company had revenue of $155.70 million during the quarter, compared to the consensus estimate of $146.04 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The firm’s revenue for the quarter was up 45.3% on a year-over-year basis. As a group, sell-side analysts predict that Wingstop Inc. will post 3.78 EPS for the current fiscal year.

Wingstop Increases Dividend

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

Wall Street Analysts Forecast Growth

WING has been the topic of several research analyst reports. Piper Sandler upped their target price on Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. TD Cowen reaffirmed a “buy” rating and set a $450.00 price objective on shares of Wingstop in a research report on Wednesday, July 31st. Truist Financial boosted their target price 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. Morgan Stanley raised their price target on shares of Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 16th. Finally, BMO Capital Markets upped their price objective on shares of Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $379.53.

Insider Activity at Wingstop

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 97 shares of the company’s stock, valued at $36,152.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.36% of the stock is currently owned by company insiders.

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.