Stephens Investment Management Group LLC Has $135.61 Million Holdings in Wingstop Inc. $WING

Key Points

• Stephens Investment Management Group LLC reduced its stake in Wingstop Inc. by 9.8%, now holding $135.61 million, which constitutes 1.8% of its investment portfolio.
• Wingstop has increased its quarterly dividend to $0.30, up from the previous $0.27, representing a 0.4% yield.
• Wingstop's stock opened at $266.89, with a recent 12-month high of $388.14, as analysts continue to revise their ratings and price targets for the company.

Stephens Investment Management Group LLC lowered its stake in Wingstop Inc. (NASDAQ:WING - Free Report) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 402,715 shares of the restaurant operator's stock after selling 43,886 shares during the quarter. Wingstop makes up 1.8% of Stephens Investment Management Group LLC's investment portfolio, making the stock its 3rd largest position. Stephens Investment Management Group LLC owned about 1.44% of Wingstop worth $135,610,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in WING. T. Rowe Price Investment Management Inc. bought a new stake in shares of Wingstop during the 1st quarter valued at about $212,672,000. Price T Rowe Associates Inc. MD boosted its position in shares of Wingstop by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,646,934 shares of the restaurant operator's stock valued at $371,517,000 after acquiring an additional 496,717 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Wingstop by 130.7% during the 1st quarter. Champlain Investment Partners LLC now owns 631,989 shares of the restaurant operator's stock valued at $142,564,000 after buying an additional 358,044 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Wingstop by 64.4% during the 1st quarter. AQR Capital Management LLC now owns 550,879 shares of the restaurant operator's stock valued at $123,295,000 after buying an additional 215,816 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Wingstop during the 1st quarter valued at about $36,393,000.

Insider Activity

In other news, SVP Marisa Carona sold 11,938 shares of the company'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 $4,421,118.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alex Kaleida sold 5,400 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $376.09, for a total value of $2,030,886.00. Following the transaction, the chief financial officer directly owned 8,362 shares in the company, valued at approximately $3,144,864.58. The trade was a 39.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,838 shares of company stock valued at $8,118,535 over the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

Wingstop Stock Up 4.4%

Shares of WING stock opened at $266.89 on Wednesday. The business's fifty day moving average is $283.24 and its 200 day moving average is $299.24. Wingstop Inc. has a twelve month low of $204.00 and a twelve month high of $388.14. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of 44.48, a PEG ratio of 3.26 and a beta of 1.78.

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

Wingstop Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.4%. This is a positive change 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 presently 20.00%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Wingstop from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. Stifel Nicolaus decreased their price target on Wingstop from $405.00 to $375.00 and set a "buy" rating on the stock in a research note on Tuesday, September 9th. Piper Sandler started coverage on Wingstop in a research note on Wednesday, July 9th. They set an "overweight" rating on the stock. Bank of America reduced their target price on Wingstop from $430.00 to $420.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Finally, Westpark Capital raised Wingstop to a "strong-buy" rating in a research note on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $366.73.

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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