Wingstop Inc. (NASDAQ:WING) Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH has reduced its stake in Wingstop Inc. by 55.6%, selling 31,639 shares and holding 25,221 shares worth approximately $5.69 million.
• Wingstop announced a quarterly dividend of $0.27, which has a 0.36% yield and reflects an annualized payout of $1.08.
• Analysts have set a consensus target price of $355.80 for Wingstop's stock, with ratings ranging from "hold" to "strong buy" from various research firms.

Allianz Asset Management GmbH cut its stake in Wingstop Inc. (NASDAQ:WING - Free Report) by 55.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,221 shares of the restaurant operator's stock after selling 31,639 shares during the quarter. Allianz Asset Management GmbH owned 0.09% of Wingstop worth $5,689,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ensign Peak Advisors Inc grew its holdings in Wingstop by 36.0% during the 4th quarter. Ensign Peak Advisors Inc now owns 36,780 shares of the restaurant operator's stock worth $10,453,000 after acquiring an additional 9,735 shares in the last quarter. Wedmont Private Capital acquired a new stake in Wingstop during the 1st quarter worth $269,000. Wesbanco Bank Inc. boosted its holdings in Wingstop by 79.2% in the first quarter. Wesbanco Bank Inc. now owns 6,111 shares of the restaurant operator's stock valued at $1,379,000 after purchasing an additional 2,700 shares in the last quarter. Stephens Investment Management Group LLC lifted its stake in Wingstop by 66.3% in the first quarter. Stephens Investment Management Group LLC now owns 446,601 shares of the restaurant operator's stock valued at $100,744,000 after buying an additional 178,041 shares during the last quarter. Finally, Merit Financial Group LLC lifted its stake in Wingstop by 167.4% in the first quarter. Merit Financial Group LLC now owns 2,035 shares of the restaurant operator's stock valued at $459,000 after buying an additional 1,274 shares during the last quarter.

Insiders Place Their Bets

In related news, CEO Michael Skipworth sold 10,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $337.34, for a total value of $3,373,400.00. Following the completion of the transaction, the chief executive officer directly owned 47,190 shares in the company, valued at approximately $15,919,074.60. The trade was a 17.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Raj Kapoor sold 637 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $273.07, for a total transaction of $173,945.59. Following the completion of the sale, the senior vice president directly owned 517 shares of the company's stock, valued at $141,177.19. This represents a 55.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Cowen restated a "buy" rating on shares of Wingstop in a research note on Thursday, May 1st. Wolfe Research initiated coverage on Wingstop in a research note on Wednesday, July 9th. They set an "outperform" rating and a $280.00 price target for the company. Gordon Haskett upgraded Wingstop to a "strong-buy" rating in a research report on Wednesday, April 30th. BMO Capital Markets increased their price objective on Wingstop from $275.00 to $345.00 and gave the stock a "market perform" rating in a research report on Thursday. Finally, The Goldman Sachs Group increased their price objective on Wingstop from $310.00 to $390.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Five equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $379.52.

Wingstop Price Performance

NASDAQ WING traded up $7.28 on Thursday, reaching $375.54. The company had a trading volume of 296,992 shares, compared to its average volume of 825,062. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of 62.80, a P/E/G ratio of 3.92 and a beta of 1.84. Wingstop Inc. has a fifty-two week low of $204.00 and a fifty-two week high of $433.86. The business has a 50 day moving average of $338.58 and a two-hundred day moving average of $284.58.

Wingstop (NASDAQ:WING - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.12. Wingstop had a net margin of 26.45% and a negative return on equity of 18.85%. The business had revenue of $174.33 million during the quarter, compared to analyst estimates of $172.60 million. During the same period in the previous year, the business earned $0.93 EPS. Wingstop's revenue was up 12.0% compared to the same quarter last year. As a group, research analysts predict that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.

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.