Cwm LLC Increases Stock Position in Wingstop Inc. (NASDAQ:WING)

Cwm LLC raised its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 132.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,306 shares of the restaurant operator’s stock after acquiring an additional 3,019 shares during the quarter. Cwm LLC’s holdings in Wingstop were worth $2,208,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of WING. Hollencrest Capital Management purchased a new stake in shares of Wingstop during the second quarter valued at $27,000. Rise Advisors LLC purchased a new position in shares of Wingstop during the first quarter valued at approximately $29,000. Ashton Thomas Private Wealth LLC bought a new position in Wingstop during the second quarter valued at approximately $34,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after buying an additional 35 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Wingstop by 53.3% in the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after acquiring an additional 40 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on WING shares. Raymond James upgraded shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Thursday, August 1st. Morgan Stanley lifted their price target on shares of Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 16th. Piper Sandler upped their price objective on Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Citigroup raised their target price on Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Finally, Stephens reissued an “overweight” rating and set a $475.00 price target on shares of Wingstop in a report on Wednesday, August 14th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Wingstop presently has an average rating of “Hold” and a consensus target price of $382.00.

Insider Buying and Selling

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of Wingstop stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.36% of the stock is owned by company insiders.

Wingstop Trading Down 1.2 %

NASDAQ WING opened at $399.05 on Tuesday. Wingstop Inc. has a 12 month low of $173.74 and a 12 month high of $433.86. The stock’s 50 day moving average is $395.12 and its 200 day moving average is $388.27. The stock has a market cap of $11.69 billion, a PE ratio of 142.01, a P/E/G ratio of 3.94 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 for the quarter, beating the consensus estimate of $0.82 by $0.11. The company had revenue of $155.70 million during the quarter, compared to analysts’ expectations of $146.04 million. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. Wingstop’s quarterly revenue was up 45.3% on a year-over-year basis. During the same period last year, the company posted $0.57 earnings per share. On average, analysts forecast that Wingstop Inc. will post 3.79 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 issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.27%. This is a boost from Wingstop’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, August 16th. Wingstop’s payout ratio is 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.