Swiss National Bank Decreases Stake in Wingstop Inc. (NASDAQ:WING)

Key Points

• The Swiss National Bank has decreased its stake in Wingstop Inc. by 1.7%, currently holding about $12.77 million worth of the company after selling 1,000 shares.
• Wingstop's CEO, Michael Skipworth, recently sold 10,000 shares, representing a 17.49% decrease in his holdings, while the CFO also sold shares contributing to a total of 31,838 shares sold by insiders in the past three months.
• Wingstop announced a quarterly dividend increase to $0.30 per share, payable on September 5th, reflecting a positive outlook with a dividend yield of 0.4%.

Swiss National Bank reduced its stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 1.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,600 shares of the restaurant operator's stock after selling 1,000 shares during the period. Swiss National Bank owned approximately 0.20% of Wingstop worth $12,768,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC increased its position in shares of Wingstop by 100.5% in the first quarter. Headlands Technologies LLC now owns 3,337 shares of the restaurant operator's stock valued at $753,000 after buying an additional 1,673 shares in the last quarter. Ontario Teachers Pension Plan Board increased its position in shares of Wingstop by 11.6% in the first quarter. Ontario Teachers Pension Plan Board now owns 4,413 shares of the restaurant operator's stock valued at $995,000 after buying an additional 460 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Wingstop by 8.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 220,614 shares of the restaurant operator's stock valued at $49,766,000 after buying an additional 16,373 shares in the last quarter. Blueshift Asset Management LLC increased its position in shares of Wingstop by 472.1% in the first quarter. Blueshift Asset Management LLC now owns 11,533 shares of the restaurant operator's stock valued at $2,602,000 after buying an additional 9,517 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new position in shares of Wingstop in the first quarter valued at $209,000.

Insider Transactions at Wingstop

In other news, CEO Michael Skipworth sold 10,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $337.34, for a total value of $3,373,400.00. Following the transaction, the chief executive officer directly owned 47,190 shares in the company, valued at $15,919,074.60. This trade represents a 17.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Alex Kaleida sold 5,400 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $376.09, for a total value of $2,030,886.00. Following the completion of the sale, the chief financial officer directly owned 8,362 shares of the company's stock, valued at $3,144,864.58. The trade was a 39.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,838 shares of company stock worth $11,491,935 in the last three months. 0.72% of the stock is currently owned by company insiders.

Wingstop Price Performance

Wingstop stock opened at $325.59 on Friday. The stock's 50-day moving average is $338.36 and its 200-day moving average is $289.28. The company has a market cap of $9.09 billion, a price-to-earnings ratio of 54.27, a price-to-earnings-growth ratio of 4.31 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 released its quarterly earnings data on Wednesday, July 30th. The restaurant operator reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.12. The company had revenue of $174.33 million for the quarter, compared to the consensus estimate of $172.60 million. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%. The company's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the business posted $0.93 EPS. Research analysts anticipate that Wingstop Inc. will post 4.18 EPS for the current year.

Wingstop Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be issued a $0.30 dividend. This is a positive change from Wingstop's previous quarterly dividend of $0.27. The ex-dividend date is Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. Wingstop's dividend payout ratio (DPR) is 18.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. BTIG Research raised their price target on Wingstop from $350.00 to $430.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Robert W. Baird raised their price target on Wingstop from $350.00 to $400.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. The Goldman Sachs Group raised their price target on Wingstop from $310.00 to $390.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Piper Sandler assumed coverage on Wingstop in a research report on Wednesday, July 9th. They issued an "overweight" rating for the company. Finally, Raymond James Financial raised their price target on Wingstop from $400.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Six analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $379.52.

About Wingstop

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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