ProShare Advisors LLC Cuts Holdings in Wingstop Inc. (NASDAQ:WING)

ProShare Advisors LLC decreased its position in Wingstop Inc. (NASDAQ:WING) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,385 shares of the restaurant operator’s stock after selling 50 shares during the period. ProShare Advisors LLC’s holdings in Wingstop were worth $585,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc increased its position in shares of Wingstop by 3.7% during the second quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock valued at $347,000 after acquiring an additional 29 shares during the last quarter. Congress Asset Management Co. MA increased its position in shares of Wingstop by 0.3% during the 4th quarter. Congress Asset Management Co. MA now owns 11,380 shares of the restaurant operator’s stock valued at $2,920,000 after purchasing an additional 34 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of 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 purchasing an additional 35 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Wingstop by 53.3% in 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 last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in Wingstop by 2.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 2,294 shares of the restaurant operator’s stock valued at $969,000 after buying an additional 47 shares during the period.

Wingstop Trading Down 3.5 %

Wingstop stock opened at $411.44 on Monday. Wingstop Inc. has a 1-year low of $170.83 and a 1-year high of $433.86. The firm has a market capitalization of $12.06 billion, a PE ratio of 146.42, a price-to-earnings-growth ratio of 4.26 and a beta of 1.71. The firm’s 50 day simple moving average is $386.73 and its 200 day simple moving average is $384.07.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. The company had revenue of $155.70 million for the quarter, compared to the consensus estimate of $146.04 million. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. The firm’s revenue was up 45.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 earnings per share. Research analysts forecast that Wingstop Inc. will post 3.78 earnings per share for the current year.

Wingstop Increases Dividend

The firm 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 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. This is an increase from Wingstop’s previous quarterly dividend of $0.22. Wingstop’s dividend payout ratio (DPR) is 38.43%.

Analyst Upgrades and Downgrades

WING has been the topic of a number of research analyst reports. 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 note on Thursday, August 1st. Barclays upped their price objective on Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Stephens reissued an “overweight” rating and issued a $475.00 target price on shares of Wingstop in a research report on Wednesday, August 14th. The Goldman Sachs Group upped their price target on Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Wedbush boosted their price objective on Wingstop from $425.00 to $440.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $379.53.

Insider Transactions at Wingstop

In related news, SVP Donnie Upshaw sold 3,199 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were 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 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 available at the SEC website. 0.36% of the stock is 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.