Ieq Capital LLC Trims Stake in Wingstop Inc. $WING

Key Points

• Ieq Capital LLC reduced its stake in Wingstop Inc. by 26.6%, selling 4,726 shares and holding 13,063 shares worth approximately $2.95 million by the end of the first quarter.
• Wingstop announced an increase in its quarterly dividend to $0.30, to be paid on September 5th, representing a 0.4% yield, up from the previous dividend of $0.27.
• Recent research reports have issued mostly positive ratings for Wingstop, with an average price target of $379.52 and several analysts upgrading the stock to a "Strong Buy" rating.

Ieq Capital LLC decreased its position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 26.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,063 shares of the restaurant operator's stock after selling 4,726 shares during the quarter. Ieq Capital LLC's holdings in Wingstop were worth $2,947,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Wingstop by 93.9% during the 1st 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 in the last quarter. True Wealth Design LLC lifted its holdings in Wingstop by 62.1% in the 4th quarter. True Wealth Design LLC now owns 141 shares of the restaurant operator's stock worth $40,000 after purchasing an additional 54 shares in the last quarter. Quarry LP purchased a new position in Wingstop in the 4th quarter worth approximately $41,000. Signaturefd LLC lifted its holdings in Wingstop by 106.9% in the 1st quarter. Signaturefd LLC now owns 149 shares of the restaurant operator's stock worth $34,000 after purchasing an additional 77 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in Wingstop by 280.3% in the 1st quarter. UMB Bank n.a. now owns 270 shares of the restaurant operator's stock worth $61,000 after purchasing an additional 199 shares in the last quarter.

Insider Activity at Wingstop

In related 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 document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Skipworth sold 4,500 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $370.34, for a total value of $1,666,530.00. Following the sale, the chief executive officer owned 42,777 shares in the company, valued at $15,842,034.18. The trade was a 9.52% 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 worth $8,118,535. Company insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on WING. Stephens reissued an "overweight" rating and issued a $425.00 price target on shares of Wingstop in a report on Wednesday. Wells Fargo & Company boosted their price target on shares of Wingstop from $375.00 to $415.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Wolfe Research started coverage on shares of Wingstop in a research note on Wednesday, July 9th. They issued an "outperform" rating and a $280.00 price target on the stock. BMO Capital Markets boosted their price target on shares of Wingstop from $275.00 to $345.00 and gave the stock a "market perform" rating in a research note on Thursday, July 31st. Finally, UBS Group boosted their price target on shares of Wingstop from $335.00 to $385.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $379.52.

Wingstop Price Performance

Shares of NASDAQ WING traded down $10.64 during mid-day trading on Thursday, hitting $312.19. 946,202 shares of the company's stock traded hands, compared to its average volume of 820,094. The company's 50-day moving average is $329.47 and its two-hundred day moving average is $291.67. The company has a market capitalization of $8.72 billion, a P/E ratio of 52.15, a PEG ratio of 4.11 and a beta of 1.87. Wingstop Inc. has a 1 year low of $204.00 and a 1 year high of $433.86.

Wingstop (NASDAQ:WING - Get Free Report) last announced its earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.12. The firm had revenue of $174.33 million for the quarter, compared to analysts' expectations of $172.60 million. Wingstop had a net margin of 25.61% and a negative return on equity of 17.07%. The business's revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 EPS. Equities analysts anticipate that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, August 15th. This is a boost from Wingstop's previous quarterly dividend of $0.27. Wingstop's payout ratio is currently 20.00%.

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.