Allspring Global Investments Holdings LLC Purchases 950 Shares of Wingstop Inc. (NASDAQ:WING)

Allspring Global Investments Holdings LLC boosted its position in Wingstop Inc. (NASDAQ:WING) by 0.5% in the third quarter, HoldingsChannel.com reports. The firm owned 183,044 shares of the restaurant operator’s stock after acquiring an additional 950 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Wingstop were worth $76,161,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Millennium Management LLC increased its holdings in shares of Wingstop by 284.1% during the second quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock valued at $161,957,000 after acquiring an additional 283,412 shares in the last quarter. Renaissance Technologies LLC boosted its position in Wingstop by 36.6% in the 2nd quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock worth $254,860,000 after purchasing an additional 161,600 shares in the last quarter. AQR Capital Management LLC boosted its position in Wingstop by 66.6% in the 2nd quarter. AQR Capital Management LLC now owns 325,920 shares of the restaurant operator’s stock worth $137,753,000 after purchasing an additional 130,248 shares in the last quarter. Vanguard Group Inc. boosted its position 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. Finally, Price T Rowe Associates Inc. MD boosted its position 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.

Wingstop Price Performance

Shares of Wingstop stock opened at $368.44 on Tuesday. The business has a 50-day moving average of $396.04 and a 200 day moving average of $388.63. Wingstop Inc. has a 12 month low of $173.74 and a 12 month high of $433.86. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of 130.62, a price-to-earnings-growth ratio of 3.69 and a beta of 1.71.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. The company had revenue of $155.70 million during the quarter, compared to analysts’ expectations of $146.04 million. During the same period last year, the business posted $0.57 EPS. Wingstop’s revenue for the quarter was up 45.3% on a year-over-year basis. Equities research analysts anticipate that Wingstop Inc. will post 3.79 earnings per share for the current year.

Wingstop Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Friday, August 16th. This is a boost from Wingstop’s previous quarterly dividend of $0.22. Wingstop’s dividend payout ratio (DPR) is presently 38.43%.

Analyst Ratings Changes

WING has been the topic of several recent research reports. Citigroup upped their price objective on Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. TD Cowen restated a “buy” rating and issued a $450.00 price objective on shares of Wingstop in a report on Wednesday, July 31st. Raymond James raised Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research note on Thursday, August 1st. Wedbush raised their target price on Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Finally, The Goldman Sachs Group raised their target price on Wingstop from $407.00 to $458.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Ten equities research 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 price target of $382.00.

Insider Activity

In other news, SVP Donnie Upshaw sold 3,199 shares of Wingstop stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 97 shares in the company, valued at approximately $36,152.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.36% of the company’s stock.

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.