Intech Investment Management LLC Sells 3,082 Shares of Wingstop Inc. $WING

Key Points

• Intech Investment Management LLC reduced its stake in Wingstop Inc. by 10.4%, selling 3,082 shares to hold a total of approximately $6.01 million worth of stock.
• Wingstop recently announced a quarterly dividend increase from $0.27 to $0.30 per share, reflecting a 0.4% dividend yield for investors.
• Despite a 2.1% decrease in stock price, several analysts maintain a positive outlook, with target prices ranging up to $440.00 and many recommending a "buy" rating.

Intech Investment Management LLC trimmed its position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 10.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,646 shares of the restaurant operator's stock after selling 3,082 shares during the period. Intech Investment Management LLC owned about 0.10% of Wingstop worth $6,011,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB boosted its stake 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 purchasing an additional 62 shares in the last quarter. True Wealth Design LLC raised 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 worth $40,000 after purchasing an additional 54 shares in the last quarter. Signaturefd LLC raised its holdings 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 in the last quarter. UMB Bank n.a. lifted its position in Wingstop by 280.3% during the first quarter. UMB Bank n.a. now owns 270 shares of the restaurant operator's stock valued at $61,000 after acquiring an additional 199 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in Wingstop during the first quarter valued at approximately $70,000.

Wingstop Stock Down 2.1%

Shares of NASDAQ WING opened at $274.70 on Friday. The business's 50 day moving average price is $324.50 and its 200 day moving average price is $292.86. The firm has a market cap of $7.67 billion, a P/E ratio of 45.78, a P/E/G ratio of 3.52 and a beta of 1.87. Wingstop Inc. has a 52 week low of $204.00 and a 52 week high of $433.86.

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

Wingstop Increases Dividend

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

Insider Buying and Selling

In related news, CFO Alex Kaleida sold 5,400 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $376.09, for a total transaction of $2,030,886.00. Following the completion of the transaction, the chief financial officer owned 8,362 shares of the company's stock, valued at $3,144,864.58. This trade represents a 39.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Skipworth sold 4,500 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $370.34, for a total transaction of $1,666,530.00. Following the transaction, the chief executive officer directly owned 42,777 shares of the company's stock, valued at approximately $15,842,034.18. This trade represents a 9.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,838 shares of company stock valued at $8,118,535 over the last 90 days. Insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WING. Sanford C. Bernstein reissued an "overweight" rating and set a $440.00 target price on shares of Wingstop in a research report on Thursday, July 31st. Benchmark increased their target price on shares of Wingstop from $325.00 to $410.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Morgan Stanley increased their target price on shares of Wingstop from $367.00 to $405.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. TD Securities reissued a "buy" rating and set a $440.00 target price on shares of Wingstop in a research report on Tuesday, June 17th. Finally, Raymond James Financial raised shares of Wingstop from an "outperform" rating to a "strong-buy" rating and set a $420.00 target price for the company in a research report on Friday, August 15th. Four research 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $380.52.

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.

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