QRG Capital Management Inc. Sells 1,235 Shares of Wingstop Inc. (NASDAQ:WING)

QRG Capital Management Inc. trimmed its holdings in Wingstop Inc. (NASDAQ:WING - Free Report) by 38.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,947 shares of the restaurant operator's stock after selling 1,235 shares during the period. QRG Capital Management Inc.'s holdings in Wingstop were worth $439,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in WING. Alyeska Investment Group L.P. purchased a new position in shares of Wingstop in the fourth quarter valued at about $151,802,000. Raymond James Financial Inc. purchased a new position in shares of Wingstop in the fourth quarter valued at about $115,301,000. Norges Bank purchased a new position in shares of Wingstop in the fourth quarter valued at about $106,123,000. Ameriprise Financial Inc. lifted its position in shares of Wingstop by 760.9% in the fourth quarter. Ameriprise Financial Inc. now owns 381,745 shares of the restaurant operator's stock valued at $108,497,000 after acquiring an additional 337,401 shares in the last quarter. Finally, Champlain Investment Partners LLC purchased a new position in shares of Wingstop in the fourth quarter valued at about $77,855,000.

Analyst Ratings Changes

A number of research firms recently commented on WING. Sanford C. Bernstein reiterated an "overweight" rating and issued a $360.00 target price on shares of Wingstop in a research report on Wednesday, May 14th. The Goldman Sachs Group boosted their target price on Wingstop from $310.00 to $390.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Truist Financial upgraded Wingstop from a "hold" rating to a "buy" rating and boosted their target price for the stock from $274.00 to $400.00 in a research report on Tuesday, May 27th. Cowen reiterated a "buy" rating on shares of Wingstop in a research report on Thursday, May 1st. Finally, UBS Group decreased their target price on Wingstop from $300.00 to $255.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Wingstop has an average rating of "Moderate Buy" and an average target price of $352.70.

Wingstop Stock Down 0.1%

Shares of Wingstop stock opened at $350.00 on Monday. Wingstop Inc. has a twelve month low of $204.00 and a twelve month high of $433.86. The business has a 50-day moving average price of $300.36 and a 200 day moving average price of $278.16. The firm has a market cap of $9.77 billion, a PE ratio of 58.63, a P/E/G ratio of 4.89 and a beta of 1.88.

Wingstop (NASDAQ:WING - Get Free Report) last issued its earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.15. The business had revenue of $171.09 million for the quarter, compared to analysts' expectations of $172.25 million. Wingstop had a negative return on equity of 18.85% and a net margin of 26.45%. The business's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. On average, sell-side analysts expect that Wingstop Inc. will post 4.18 EPS for the current year.

Wingstop Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Friday, May 16th. Wingstop's payout ratio is 18.09%.

Insider Buying and Selling at Wingstop

In other news, CEO Michael Skipworth sold 10,000 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $337.34, for a total transaction of $3,373,400.00. Following the sale, the chief executive officer now owns 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Raj Kapoor sold 637 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $273.07, for a total value of $173,945.59. Following the sale, the senior vice president now directly owns 517 shares in the company, valued at $141,177.19. This represents a 55.20% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is 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.

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