EFG Asset Management North America Corp. Decreases Stock Position in Wingstop Inc. $WING

Key Points

• EFG Asset Management North America Corp. reduced its position in Wingstop Inc. by 23.6%, owning 6,186 shares valued at approximately $1,395,000 after selling 1,909 shares.
• Wingstop recently increased its quarterly dividend from $0.27 to $0.30 per share, which will be paid on September 5th.
• The company's stock price opened at $308.82, with a market cap of $8.62 billion and a price-to-earnings ratio of 51.47.

EFG Asset Management North America Corp. reduced its stake in Wingstop Inc. (NASDAQ:WING - Free Report) by 23.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,186 shares of the restaurant operator's stock after selling 1,909 shares during the period. EFG Asset Management North America Corp.'s holdings in Wingstop were worth $1,395,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its position in shares of Wingstop by 93.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator's stock valued at $29,000 after buying an additional 62 shares during the last quarter. Signaturefd LLC boosted its position in Wingstop by 106.9% in the first quarter. Signaturefd LLC now owns 149 shares of the restaurant operator's stock worth $34,000 after purchasing an additional 77 shares during the last quarter. True Wealth Design LLC boosted its position in Wingstop by 62.1% in the fourth quarter. True Wealth Design LLC now owns 141 shares of the restaurant operator's stock worth $40,000 after purchasing an additional 54 shares during the last quarter. UMB Bank n.a. boosted its position in Wingstop by 280.3% in the first quarter. UMB Bank n.a. now owns 270 shares of the restaurant operator's stock worth $61,000 after purchasing an additional 199 shares during the last quarter. Finally, National Bank of Canada FI purchased a new position in Wingstop in the first quarter worth about $70,000.

Wingstop Stock Performance

Wingstop stock traded up $0.97 during mid-day trading on Friday, hitting $309.79. The company's stock had a trading volume of 353,843 shares, compared to its average volume of 700,325. The company has a 50 day moving average of $328.02 and a 200-day moving average of $292.22. The stock has a market cap of $8.65 billion, a PE ratio of 51.63, a P/E/G ratio of 3.88 and a beta of 1.87. Wingstop Inc. has a one year low of $204.00 and a one year high of $433.86.

Wingstop (NASDAQ:WING - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The restaurant operator reported $1.00 EPS for the quarter, beating the consensus estimate of $0.88 by $0.12. The company had revenue of $174.33 million for the quarter, compared to the consensus estimate of $172.60 million. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.Wingstop's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.93 EPS. On average, equities research analysts forecast that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were given a $0.30 dividend. This is a boost from Wingstop's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.20 annualized dividend and a yield of 0.4%. Wingstop's dividend payout ratio is currently 20.00%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays raised their target price on Wingstop from $410.00 to $440.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Wells Fargo & Company raised their target price on Wingstop from $375.00 to $415.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Sanford C. Bernstein reaffirmed an "overweight" rating and set a $440.00 price objective on shares of Wingstop in a research report on Thursday, July 31st. Benchmark lifted their price objective on Wingstop from $325.00 to $410.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Melius assumed coverage on Wingstop in a research report on Monday, July 14th. They set a "hold" rating and a $350.00 price objective on the stock. Four analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $379.52.

Insider Transactions at Wingstop

In other news, SVP Marisa Carona sold 11,938 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $370.34, for a total transaction of $4,421,118.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Alex Kaleida sold 5,400 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $376.09, for a total value of $2,030,886.00. Following the transaction, the chief financial officer directly owned 8,362 shares in the company, valued at $3,144,864.58. The trade was a 39.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,838 shares of company stock valued at $8,118,535. 0.72% of the stock is currently owned by corporate insiders.

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.