New York State Teachers Retirement System Sells 5,558 Shares of Wingstop Inc. (NASDAQ:WING)

New York State Teachers Retirement System reduced its holdings in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,194 shares of the restaurant operator's stock after selling 5,558 shares during the quarter. New York State Teachers Retirement System owned 0.11% of Wingstop worth $6,811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WING. EverSource Wealth Advisors LLC increased its holdings in Wingstop by 521.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator's stock worth $25,000 after purchasing an additional 73 shares in 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 worth $26,000 after purchasing an additional 35 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Wingstop in the 4th quarter worth about $30,000. MassMutual Private Wealth & Trust FSB increased its holdings in Wingstop by 93.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator's stock worth $29,000 after purchasing an additional 62 shares in the last quarter. Finally, True Wealth Design LLC increased 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.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. UBS Group lowered their target price on Wingstop from $300.00 to $255.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Barclays reissued an "overweight" rating and issued a $410.00 price target (up previously from $360.00) on shares of Wingstop in a research note on Thursday, June 26th. BTIG Research increased their price target on Wingstop from $350.00 to $430.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. The Goldman Sachs Group increased their price target on Wingstop from $310.00 to $390.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Sanford C. Bernstein reissued an "overweight" rating and issued a $360.00 price target on shares of Wingstop in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wingstop presently has an average rating of "Moderate Buy" and an average target price of $358.83.

Wingstop Price Performance

Shares of WING stock traded up $7.41 during trading hours on Wednesday, reaching $334.06. The company had a trading volume of 582,218 shares, compared to its average volume of 656,000. Wingstop Inc. has a 12 month low of $204.00 and a 12 month high of $433.86. The business has a fifty day simple moving average of $330.20 and a 200-day simple moving average of $281.20. The company has a market cap of $9.32 billion, a price-to-earnings ratio of 55.96, a price-to-earnings-growth ratio of 4.57 and a beta of 1.84.

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

Wingstop Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.32%. Wingstop's dividend payout ratio is presently 18.09%.

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.