TD Asset Management Inc Buys New Shares in Wingstop Inc. (NASDAQ:WING)

TD Asset Management Inc bought a new position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 50,538 shares of the restaurant operator's stock, valued at approximately $11,400,000. TD Asset Management Inc owned approximately 0.18% of Wingstop at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Tidal Investments LLC raised its position in shares of Wingstop by 4.9% in the fourth quarter. Tidal Investments LLC now owns 795 shares of the restaurant operator's stock valued at $226,000 after purchasing an additional 37 shares during the period. OneDigital Investment Advisors LLC grew its stake in Wingstop by 7.9% in the 4th quarter. OneDigital Investment Advisors LLC now owns 740 shares of the restaurant operator's stock valued at $210,000 after buying an additional 54 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of Wingstop by 62.1% in the fourth quarter. True Wealth Design LLC now owns 141 shares of the restaurant operator's stock worth $40,000 after acquiring an additional 54 shares during the period. MassMutual Private Wealth & Trust FSB grew its position 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 purchasing an additional 62 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Wingstop by 1.1% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 6,023 shares of the restaurant operator's stock valued at $1,359,000 after purchasing an additional 65 shares during the period.

Insiders Place Their Bets

In other news, CEO Michael Skipworth sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $337.34, for a total value of $3,373,400.00. Following the transaction, the chief executive officer owned 47,190 shares in the company, valued at $15,919,074.60. This represents a 17.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Raj Kapoor sold 637 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $273.07, for a total transaction of $173,945.59. Following the sale, the senior vice president owned 517 shares of the company's stock, valued at $141,177.19. This trade represents a 55.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Wingstop Price Performance

WING stock traded down $14.89 during trading on Friday, reaching $362.45. The company had a trading volume of 1,199,950 shares, compared to its average volume of 770,947. Wingstop Inc. has a 52 week low of $204.00 and a 52 week high of $433.86. The company has a market cap of $10.11 billion, a P/E ratio of 60.41, a PEG ratio of 5.05 and a beta of 1.84. The business has a 50 day moving average of $339.70 and a 200 day moving average of $285.28.

Wingstop (NASDAQ:WING - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.12. The business had revenue of $174.33 million for 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%. The business's revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.93 earnings per share. Research analysts expect that Wingstop Inc. will post 4.18 earnings per share for the current year.

Wingstop Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be paid a $0.30 dividend. This is an increase 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 0.3%. Wingstop's dividend payout ratio (DPR) is 18.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BTIG Research raised their price objective on shares of Wingstop from $350.00 to $430.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Melius began coverage on shares of Wingstop in a report on Monday, July 14th. They issued a "hold" rating and a $350.00 price target for the company. BMO Capital Markets lifted their price objective on Wingstop from $275.00 to $345.00 and gave the company a "market perform" rating in a research note on Thursday. Raymond James Financial upped their target price on Wingstop from $400.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Wolfe Research began coverage on Wingstop in a report on Wednesday, July 9th. They issued an "outperform" rating and a $280.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Wingstop currently has a consensus rating of "Moderate Buy" and a consensus target price 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.