Bessemer Group Inc. Reduces Position in Wingstop Inc. (NASDAQ:WING)

Bessemer Group Inc. cut its stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 13.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,376 shares of the restaurant operator's stock after selling 9,080 shares during the quarter. Bessemer Group Inc. owned about 0.21% of Wingstop worth $13,394,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in Wingstop by 521.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator's stock valued at $25,000 after purchasing an additional 73 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in Wingstop by 62.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator's stock valued at $26,000 after purchasing an additional 35 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Wingstop in the fourth quarter valued at $30,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Wingstop by 93.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator's stock valued at $29,000 after purchasing an additional 62 shares during the last quarter. Finally, True Wealth Design LLC boosted its holdings in Wingstop by 62.1% in the fourth quarter. True Wealth Design LLC now owns 141 shares of the restaurant operator's stock valued at $40,000 after purchasing an additional 54 shares during the last quarter.

Wingstop Trading Down 3.6%

WING stock opened at $343.42 on Friday. The company has a market cap of $9.58 billion, a price-to-earnings ratio of 57.52, a PEG ratio of 4.98 and a beta of 1.88. Wingstop Inc. has a 12 month low of $204.00 and a 12 month high of $433.86. The firm has a 50-day moving average of $310.95 and a two-hundred day moving average of $279.53.

Wingstop (NASDAQ:WING - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.15. The company had revenue of $171.09 million during the quarter, compared to the consensus estimate of $172.25 million. Wingstop had a net margin of 26.45% and a negative return on equity of 18.85%. Wingstop's quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. As a group, equities analysts forecast that Wingstop Inc. will post 4.18 earnings per share for the current year.

Wingstop Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were paid a $0.27 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.08 annualized dividend and a dividend yield of 0.31%. Wingstop's dividend payout ratio (DPR) is 18.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on WING shares. Bank of America upped their price target on shares of Wingstop from $360.00 to $430.00 and gave the company a "buy" rating in a report on Wednesday. Stifel Nicolaus decreased their price objective on shares of Wingstop from $375.00 to $350.00 and set a "buy" rating for the company in a research report on Friday, February 28th. UBS Group decreased their price objective on shares of Wingstop from $300.00 to $255.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Truist Financial upgraded shares of Wingstop from a "hold" rating to a "buy" rating and upped their price objective for the stock from $274.00 to $400.00 in a research report on Tuesday, May 27th. Finally, Piper Sandler upped their price objective on shares of Wingstop from $271.00 to $272.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $362.26.

Insider Activity

In other news, SVP Raj Kapoor sold 637 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $273.07, for a total value of $173,945.59. Following the completion of the sale, the senior vice president now owns 517 shares of the company's stock, valued at $141,177.19. This represents a 55.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael Skipworth sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $337.34, for a total transaction of $3,373,400.00. Following the transaction, the chief executive officer now directly owns 47,190 shares of the company's stock, valued at $15,919,074.60. The trade was a 17.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Wingstop 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.

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