Wedmont Private Capital Sells 48 Shares of Wingstop Inc. (NASDAQ:WING)

Wedmont Private Capital reduced its position in Wingstop Inc. (NASDAQ:WING) by 6.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 646 shares of the restaurant operator’s stock after selling 48 shares during the period. Wedmont Private Capital’s holdings in Wingstop were worth $256,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Wingstop by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock worth $1,071,473,000 after purchasing an additional 104,780 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Wingstop by 4.7% in 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 purchasing an additional 101,917 shares in the last quarter. Renaissance Technologies LLC raised its position in Wingstop by 36.6% during the 2nd 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. Massachusetts Financial Services Co. MA raised its position in 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 buying an additional 16,526 shares during the last quarter. Finally, Millennium Management LLC raised its position in Wingstop by 284.1% during the 2nd quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock worth $161,957,000 after buying an additional 283,412 shares during the last quarter.

Wingstop Stock Performance

Shares of NASDAQ WING opened at $403.82 on Monday. The firm has a market cap of $11.83 billion, a PE ratio of 143.71, a PEG ratio of 3.94 and a beta of 1.71. The firm has a fifty day moving average of $394.19 and a 200 day moving average of $388.04. Wingstop Inc. has a one year low of $173.03 and a one year high of $433.86.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. The company had revenue of $155.70 million during the quarter, compared to analyst estimates of $146.04 million. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The firm’s revenue was up 45.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 EPS. On average, equities analysts predict that Wingstop Inc. will post 3.79 EPS for the current fiscal year.

Wingstop Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on WING. Stephens reissued an “overweight” rating and set a $475.00 price target on shares of Wingstop in a research report on Wednesday, August 14th. Raymond James raised shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research report on Thursday, August 1st. Citigroup raised their price target on shares of Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Barclays raised their price target on shares of Wingstop from $418.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group lifted their target price on shares of Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $382.00.

Insiders Place Their Bets

In other Wingstop 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 $36,152.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

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.