Cetera Investment Advisers Raises Position in Wingstop Inc. (NASDAQ:WING)

Cetera Investment Advisers boosted its position in Wingstop Inc. (NASDAQ:WING) by 23.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,789 shares of the restaurant operator’s stock after purchasing an additional 708 shares during the period. Cetera Investment Advisers’ holdings in Wingstop were worth $1,601,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of WING. Goldman Sachs Group Inc. raised its position in shares of Wingstop by 14.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 279,938 shares of the restaurant operator’s stock valued at $71,827,000 after purchasing an additional 36,017 shares during the period. Congress Asset Management Co. MA grew its stake in Wingstop by 0.3% in 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 buying an additional 34 shares in the last quarter. HighPoint Advisor Group LLC purchased a new position in Wingstop in the 4th quarter valued at approximately $395,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Wingstop during the fourth quarter worth $86,000. Finally, Symmetry Partners LLC purchased a new stake in shares of Wingstop during the first quarter worth $247,000.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WING shares. The Goldman Sachs Group boosted their price objective on Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Stifel Nicolaus increased their price target on shares of Wingstop from $420.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Morgan Stanley boosted their price objective on shares of Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 16th. Piper Sandler increased their target price on shares of Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, TD Cowen reissued a “buy” rating and issued a $450.00 price target on shares of Wingstop in a report on Wednesday, July 31st. Ten 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.com, the company currently has an average rating of “Hold” and a consensus price target of $382.00.

Insider Buying and Selling

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the company’s 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 completion of the sale, the senior vice president now directly owns 97 shares in the company, valued at $36,152.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.36% of the stock is owned by corporate insiders.

Wingstop Trading Down 1.2 %

Shares of Wingstop stock opened at $399.05 on Tuesday. The firm has a market capitalization of $11.69 billion, a PE ratio of 142.01, a price-to-earnings-growth ratio of 3.94 and a beta of 1.71. The business’s 50-day moving average price is $395.12 and its 200-day moving average price is $388.27. Wingstop Inc. has a 12 month low of $173.74 and a 12 month high of $433.86.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Wingstop’s revenue for the quarter was up 45.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 earnings per share. As a group, analysts predict that Wingstop Inc. will post 3.79 earnings per share for the current fiscal year.

Wingstop Increases Dividend

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

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.