Wingstop Inc. (NASDAQ:WING) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 69.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,358 shares of the restaurant operator’s stock after selling 16,631 shares during the period. Thrivent Financial for Lutherans’ holdings in Wingstop were worth $3,110,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of 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. Price T Rowe Associates Inc. MD increased its holdings in Wingstop by 4.7% in the first 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 in the last quarter. Renaissance Technologies LLC lifted its position in shares of Wingstop by 36.6% during the 2nd quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock valued at $254,860,000 after acquiring an additional 161,600 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Wingstop by 2.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 600,905 shares of the restaurant operator’s stock worth $253,979,000 after acquiring an additional 16,526 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in shares of Wingstop by 11.1% in the 1st quarter. 1832 Asset Management L.P. now owns 340,400 shares of the restaurant operator’s stock worth $124,723,000 after acquiring an additional 34,000 shares during the period.

Insider Activity

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 16th. The Goldman Sachs Group boosted their price target on Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Raymond James upgraded Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a report on Thursday, August 1st. Truist Financial upped their target price on Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. 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 note on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Wingstop has an average rating of “Hold” and an average target price of $379.53.

Wingstop Trading Down 3.5 %

Shares of NASDAQ WING opened at $411.44 on Monday. The stock has a fifty day moving average price of $386.73 and a 200 day moving average price of $384.07. Wingstop Inc. has a 12-month low of $170.83 and a 12-month high of $433.86. The company has a market cap of $12.06 billion, a P/E ratio of 146.42, a P/E/G ratio of 4.26 and a beta of 1.71.

Wingstop (NASDAQ:WING) last posted its 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. The business had revenue of $155.70 million during the quarter, compared to analyst estimates of $146.04 million. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. The company’s revenue for the quarter was up 45.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 earnings per share. On average, sell-side analysts forecast that Wingstop Inc. will post 3.78 EPS for the current fiscal year.

Wingstop Increases Dividend

The company also recently announced 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 a boost from Wingstop’s previous quarterly dividend of $0.22. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, August 16th. Wingstop’s payout ratio is presently 38.43%.

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.