Russell Investments Group Ltd. raised its holdings in Wingstop Inc. (NASDAQ:WING - Free Report) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 137,650 shares of the restaurant operator's stock after buying an additional 9,670 shares during the period. Russell Investments Group Ltd. owned about 0.49% of Wingstop worth $31,051,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in WING. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Wingstop by 93.9% in the first 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. Signaturefd LLC lifted its position in shares of Wingstop by 106.9% during the first quarter. Signaturefd LLC now owns 149 shares of the restaurant operator's stock valued at $34,000 after purchasing an additional 77 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Wingstop by 62.1% during the fourth quarter. True Wealth Design LLC now owns 141 shares of the restaurant operator's stock valued at $40,000 after purchasing an additional 54 shares in the last quarter. Quarry LP bought a new position in shares of Wingstop during the fourth quarter valued at about $41,000. Finally, UMB Bank n.a. lifted its position in shares of 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 purchasing an additional 199 shares in the last quarter.
Insider Activity at Wingstop
In related news, CFO Alex Kaleida sold 5,400 shares of the business's 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 transaction, the chief financial officer owned 8,362 shares of the company's stock, valued at approximately $3,144,864.58. The trade was a 39.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marisa Carona sold 11,938 shares of the business'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. Over the last 90 days, insiders sold 31,838 shares of company stock valued at $11,491,935. Corporate insiders own 0.72% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Bank of America dropped their price target on shares of Wingstop from $430.00 to $420.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. BMO Capital Markets raised their price target on shares of Wingstop from $275.00 to $345.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Robert W. Baird raised their price target on shares of Wingstop from $350.00 to $400.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Cowen reissued a "buy" rating on shares of Wingstop in a research report on Thursday, May 1st. Finally, Sanford C. Bernstein restated an "overweight" rating and set a $440.00 price objective on shares of Wingstop in a report on Thursday, July 31st. Six analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Wingstop currently has an average rating of "Moderate Buy" and a consensus target price of $379.52.
Check Out Our Latest Stock Analysis on Wingstop
Wingstop Trading Up 3.5%
Shares of NASDAQ:WING opened at $336.84 on Friday. The company has a 50 day moving average of $337.60 and a 200 day moving average of $289.56. The stock has a market cap of $9.41 billion, a P/E ratio of 56.14, a P/E/G ratio of 4.10 and a beta of 1.84. Wingstop Inc. has a 12 month low of $204.00 and a 12 month high of $433.86.
Wingstop (NASDAQ:WING - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The restaurant operator reported $1.00 EPS for the quarter, beating the consensus estimate of $0.88 by $0.12. The company had revenue of $174.33 million during 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%. Wingstop's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.93 earnings per share. On average, equities analysts forecast that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.
Wingstop Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a dividend of $0.30 per share. This is an increase from Wingstop's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, August 15th. Wingstop's dividend payout ratio is presently 20.00%.
Wingstop Company Profile
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Free Report)
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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