Cresset Asset Management LLC Trims Holdings in Wingstop Inc. (NASDAQ:WING)

Cresset Asset Management LLC reduced its holdings in Wingstop Inc. (NASDAQ:WING - Free Report) by 52.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 763 shares of the restaurant operator's stock after selling 831 shares during the period. Cresset Asset Management LLC's holdings in Wingstop were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Verdence Capital Advisors LLC increased its position in shares of Wingstop by 3.9% during the fourth quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator's stock valued at $256,000 after acquiring an additional 34 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in Wingstop by 62.5% in the 4th 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. V Square Quantitative Management LLC increased its holdings in Wingstop by 34.9% in the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator's stock valued at $41,000 after purchasing an additional 37 shares during the last quarter. Arizona State Retirement System raised its position in Wingstop by 0.5% in the fourth quarter. Arizona State Retirement System now owns 8,499 shares of the restaurant operator's stock valued at $2,415,000 after purchasing an additional 42 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in Wingstop by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 897 shares of the restaurant operator's stock worth $255,000 after purchasing an additional 47 shares in the last quarter.

Insider Activity

In related news, SVP Raj Kapoor sold 637 shares of the company's stock in a transaction 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 in the company, valued at $141,177.19. This represents a 55.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WING shares. Stifel Nicolaus dropped their price objective on Wingstop from $375.00 to $350.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Wells Fargo & Company lifted their target price on Wingstop from $300.00 to $320.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Wedbush reduced their price target on shares of Wingstop from $390.00 to $355.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Benchmark dropped their price objective on shares of Wingstop from $340.00 to $325.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Finally, Cowen restated a "buy" rating on shares of Wingstop in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $331.78.

Wingstop Stock Down 1.6%

NASDAQ WING traded down $5.30 on Wednesday, hitting $322.48. 648,883 shares of the stock were exchanged, compared to its average volume of 620,852. Wingstop Inc. has a fifty-two week low of $204.00 and a fifty-two week high of $433.86. The company has a market cap of $9.00 billion, a PE ratio of 86.92, a PEG ratio of 2.27 and a beta of 1.80. The company has a 50-day moving average price of $245.63 and a 200-day moving average price of $275.67.

Wingstop (NASDAQ:WING - Get Free Report) last issued its earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.15. Wingstop had a net margin of 17.37% and a negative return on equity of 21.59%. The business had revenue of $171.09 million during the quarter, compared to analysts' expectations of $172.25 million. During the same quarter in the prior year, the business posted $0.98 EPS. The company's revenue for the quarter was up 17.4% on a year-over-year basis. As a group, equities research analysts predict that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, May 16th. Wingstop's payout ratio is 18.09%.

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.