Victory Capital Management Inc. Has $3 Million Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Key Points

• Victory Capital Management Inc. reduced its stake in Wingstop by 68.3% in Q1, now holding shares worth approximately $3 million after selling 28,668 shares.
• Wingstop's recent earnings report showed a net margin of 26.45% with quarterly revenue of $171.09 million, slightly below analysts' expectations.
• Analysts have mixed ratings on Wingstop, with target prices ranging from $255 to $410, reflecting a consensus rating of "Moderate Buy".

Victory Capital Management Inc. trimmed its holdings in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 68.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,287 shares of the restaurant operator's stock after selling 28,668 shares during the period. Victory Capital Management Inc.'s holdings in Wingstop were worth $2,997,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Wingstop by 93.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator's stock worth $29,000 after buying an additional 62 shares during the last quarter. Signaturefd LLC lifted its stake in Wingstop by 106.9% in the 1st quarter. Signaturefd LLC now owns 149 shares of the restaurant operator's stock valued at $34,000 after purchasing an additional 77 shares during the last quarter. True Wealth Design LLC lifted its stake in Wingstop by 62.1% in the 4th 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 during the last quarter. Quarry LP acquired a new stake in Wingstop in the 4th quarter valued at about $41,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Wingstop in the 4th quarter valued at about $49,000.

Wall Street Analysts Forecast Growth

WING has been the subject of several recent analyst reports. UBS Group cut their target price on shares of Wingstop from $300.00 to $255.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Robert W. Baird raised their target price on shares of Wingstop from $350.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Barclays reiterated an "overweight" rating and issued a $410.00 target price (up from $360.00) on shares of Wingstop in a research note on Thursday, June 26th. Bank of America cut their target price on shares of Wingstop from $430.00 to $420.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Finally, Wolfe Research initiated coverage on shares of Wingstop in a research note on Wednesday, July 9th. They issued an "outperform" rating and a $280.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Wingstop has a consensus rating of "Moderate Buy" and an average target price of $355.80.

Wingstop Trading Up 0.8%

Shares of WING opened at $302.01 on Monday. Wingstop Inc. has a 12 month low of $204.00 and a 12 month high of $433.86. The firm's 50 day moving average is $339.30 and its 200-day moving average is $283.86. The stock has a market capitalization of $8.43 billion, a PE ratio of 50.59, a P/E/G ratio of 4.07 and a beta of 1.84.

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

Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.08 dividend on an annualized basis and a yield of 0.36%. Wingstop's dividend payout ratio (DPR) is 18.09%.

Insider Buying and Selling

In related news, CEO Michael Skipworth sold 10,000 shares of Wingstop 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 directly owned 47,190 shares of the company's stock, valued at $15,919,074.60. This trade represents a 17.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Raj Kapoor sold 637 shares of Wingstop 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 completion of the transaction, the senior vice president directly owned 517 shares in the company, 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 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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