Bank of Montreal Can Sells 27,812 Shares of Wingstop Inc. (NASDAQ:WING)

Bank of Montreal Can trimmed its stake in shares of Wingstop Inc. (NASDAQ:WING) by 55.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,683 shares of the restaurant operator’s stock after selling 27,812 shares during the quarter. Bank of Montreal Can’s holdings in Wingstop were worth $9,333,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Hollencrest Capital Management bought a new stake in shares of Wingstop during the second quarter valued at about $27,000. Ashton Thomas Private Wealth LLC purchased a new position in Wingstop during the second quarter valued at approximately $34,000. Massmutual Trust Co. FSB ADV increased its holdings in Wingstop by 60.3% during 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 period. V Square Quantitative Management LLC lifted its stake in Wingstop by 60.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after purchasing an additional 40 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Wingstop by 384.6% in the 3rd quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock valued at $53,000 after purchasing an additional 100 shares during the period.

Wingstop Stock Down 0.8 %

Shares of NASDAQ WING opened at $328.77 on Monday. The firm’s fifty day moving average is $363.05 and its 200 day moving average is $380.53. Wingstop Inc. has a 52 week low of $238.06 and a 52 week high of $433.86. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 95.85, a PEG ratio of 3.06 and a beta of 1.76.

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

Wingstop Dividend Announcement

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 0.33%. The ex-dividend date is Friday, November 15th. Wingstop’s dividend payout ratio (DPR) is currently 31.49%.

Wall Street Analysts Forecast Growth

WING has been the topic of several research analyst reports. The Goldman Sachs Group raised shares of Wingstop from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $458.00 to $377.00 in a report on Friday, November 8th. TD Cowen lowered their price target on Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Stephens cut their price objective on Wingstop from $490.00 to $468.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Piper Sandler lowered their target price on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Northcoast Research raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price target for the company in a research note on Friday, November 1st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.