Pinnacle Wealth Management LLC Purchases Shares of 2,570 Wingstop Inc. $WING

Key Points

• Pinnacle Wealth Management LLC has acquired 2,570 shares of Wingstop Inc., valued at approximately $580,000, in its recent SEC filing.
• Wingstop reported a quarterly earnings per share of $1.00, exceeding analysts' expectations and showing a revenue growth of 12.0% compared to the same quarter last year.
• The company declared a quarterly dividend of $0.30 per share, reflecting an increase from the previous dividend and indicating a 20% payout ratio.

Pinnacle Wealth Management LLC bought a new stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,570 shares of the restaurant operator's stock, valued at approximately $580,000.

Several other hedge funds and other institutional investors have also bought and sold shares of WING. Northern Trust Corp boosted its position in Wingstop by 2.9% during the first quarter. Northern Trust Corp now owns 297,834 shares of the restaurant operator's stock worth $67,185,000 after purchasing an additional 8,273 shares during the period. Algert Global LLC lifted its stake in Wingstop by 9.8% during the 1st quarter. Algert Global LLC now owns 30,377 shares of the restaurant operator's stock valued at $6,852,000 after acquiring an additional 2,710 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in shares of Wingstop by 145.3% in the 1st quarter. Cresset Asset Management LLC now owns 1,872 shares of the restaurant operator's stock worth $422,000 after buying an additional 1,109 shares during the last quarter. American Century Companies Inc. grew its holdings in Wingstop by 4.7% during the 1st quarter. American Century Companies Inc. now owns 1,262,597 shares of the restaurant operator's stock valued at $284,817,000 after buying an additional 56,535 shares in the last quarter. Finally, Marathon Trading Investment Management LLC purchased a new position in shares of Wingstop during the first quarter worth about $226,000.

Wingstop Stock Performance

WING stock opened at $336.84 on Monday. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 56.14, a PEG ratio of 4.24 and a beta of 1.84. The firm has a 50 day moving average price of $337.60 and a 200-day moving average price of $289.35. 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 quarterly earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share 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 business had revenue of $174.33 million for the quarter, compared to analysts' expectations of $172.60 million. During the same quarter last year, the company posted $0.93 EPS. The company's revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The company 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 positive change from Wingstop's previous quarterly dividend of $0.27. Wingstop's payout ratio is currently 20.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on WING shares. UBS Group raised their price objective on Wingstop from $335.00 to $385.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Wolfe Research started coverage on Wingstop in a research report on Wednesday, July 9th. They set an "outperform" rating and a $280.00 price target for the company. Guggenheim boosted their price target on shares of Wingstop from $325.00 to $410.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Raymond James Financial upgraded Wingstop from an "outperform" rating to a "strong-buy" rating and set a $420.00 target price on the stock in a research report on Friday. Finally, Robert W. Baird raised their target price on Wingstop from $350.00 to $400.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Six research analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $379.52.

Insider Activity at Wingstop

In related news, CFO Alex Kaleida sold 5,400 shares of the stock in a transaction that occurred 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 sale, the chief financial officer owned 8,362 shares of the company's stock, valued at $3,144,864.58. This represents a 39.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Marisa Carona sold 11,938 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $370.34, for a total transaction of $4,421,118.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,838 shares of company stock worth $11,491,935. Insiders own 0.72% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.