Oppenheimer Asset Management Inc. Sells 35 Shares of Wingstop Inc. (NASDAQ:WING)

Oppenheimer Asset Management Inc. reduced its stake in shares of Wingstop Inc. (NASDAQ:WING) by 0.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,891 shares of the restaurant operator’s stock after selling 35 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Wingstop were worth $1,619,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Fulton Bank N.A. grew its holdings in Wingstop by 5.0% during the third quarter. Fulton Bank N.A. now owns 547 shares of the restaurant operator’s stock valued at $228,000 after purchasing an additional 26 shares during the period. CIBC Asset Management Inc grew its stake in shares of Wingstop by 3.7% during the 2nd quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock worth $347,000 after acquiring an additional 29 shares during the period. Dark Forest Capital Management LP increased its holdings in Wingstop by 4.3% in the 2nd quarter. Dark Forest Capital Management LP now owns 752 shares of the restaurant operator’s stock worth $318,000 after acquiring an additional 31 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in 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 acquiring an additional 35 shares during the last quarter. Finally, Hollencrest Capital Management lifted its holdings in Wingstop by 53.8% during the third quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 35 shares during the last quarter.

Wingstop Trading Down 4.2 %

Shares of NASDAQ:WING opened at $316.68 on Monday. Wingstop Inc. has a 12-month low of $223.30 and a 12-month high of $433.86. The stock’s 50-day moving average price is $376.42 and its 200-day moving average price is $384.42. The stock has a market capitalization of $9.25 billion, a P/E ratio of 92.33, a price-to-earnings-growth ratio of 2.95 and a beta of 1.76.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The company had revenue of $162.50 million during the quarter, compared to analysts’ expectations of $160.24 million. During the same period last year, the firm earned $0.69 earnings per share. Wingstop’s revenue for the quarter was up 38.8% on a year-over-year basis. As a group, research analysts predict that Wingstop Inc. will post 3.68 EPS for the current year.

Wingstop Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.34%. The ex-dividend date is Friday, November 15th. Wingstop’s dividend payout ratio (DPR) is currently 31.49%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WING. Citigroup lifted their target price on shares of Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Northcoast Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 target price on the stock in a research report on Friday, November 1st. BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price target for the company in a research report on Thursday, October 31st. Piper Sandler dropped their price objective on Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Benchmark raised Wingstop from a “hold” rating to a “buy” rating and set a $340.00 target price for the company in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Wingstop presently has a consensus rating of “Moderate Buy” and a consensus price target of $368.74.

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.