Voya Investment Management LLC Has $48.55 Million Holdings in Wingstop Inc. $WING

Key Points

• Voya Investment Management LLC reduced its holdings in Wingstop Inc. by 24.7% during the first quarter, ending with 215,227 shares valued at approximately $48.55 million.
• Several analysts have increased their price targets for Wingstop, with Truist Financial raising it from $274 to $400, while the average target now stands at $380.52.
• Wingstop recently announced a quarterly dividend increase, with stockholders receiving $0.30 per share, up from $0.27, reflecting a dividend yield of 0.5%.

Voya Investment Management LLC cut its holdings in Wingstop Inc. (NASDAQ:WING - Free Report) by 24.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 215,227 shares of the restaurant operator's stock after selling 70,445 shares during the period. Voya Investment Management LLC owned about 0.77% of Wingstop worth $48,551,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Strs Ohio acquired a new stake in shares of Wingstop in the first quarter valued at approximately $11,279,000. Geneos Wealth Management Inc. raised its holdings in shares of Wingstop by 121.4% in the first quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator's stock valued at $49,000 after purchasing an additional 119 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Wingstop by 5.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,439 shares of the restaurant operator's stock worth $20,852,000 after buying an additional 4,937 shares during the last quarter. United Services Automobile Association acquired a new position in Wingstop during the first quarter worth $429,000. Finally, Jones Financial Companies Lllp increased its holdings in Wingstop by 2,770.6% during the first quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator's stock worth $440,000 after buying an additional 1,884 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WING shares. Truist Financial upgraded shares of Wingstop from a "hold" rating to a "buy" rating and boosted their target price for the stock from $274.00 to $400.00 in a report on Tuesday, May 27th. Morgan Stanley boosted their target price on shares of Wingstop from $367.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Benchmark boosted their target price on shares of Wingstop from $325.00 to $410.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. The Goldman Sachs Group boosted their target price on shares of Wingstop from $310.00 to $390.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Sanford C. Bernstein restated an "overweight" rating and set a $440.00 target price on shares of Wingstop in a report on Thursday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Wingstop has a consensus rating of "Moderate Buy" and an average price target of $380.52.

Insider Activity

In related news, CEO Michael Skipworth sold 4,500 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $370.34, for a total value of $1,666,530.00. Following the completion of the transaction, the chief executive officer owned 42,777 shares of the company's stock, valued at $15,842,034.18. The trade was a 9.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Marisa Carona sold 11,938 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $370.34, for a total value of $4,421,118.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,838 shares of company stock valued at $8,118,535. 0.72% of the stock is owned by company insiders.

Wingstop Price Performance

WING stock opened at $266.02 on Friday. The company has a fifty day moving average price of $323.32 and a two-hundred day moving average price of $293.50. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 44.34, a price-to-earnings-growth ratio of 3.45 and a beta of 1.87. Wingstop Inc. has a one year low of $204.00 and a one year high of $433.86.

Wingstop (NASDAQ:WING - Get Free Report) last announced its earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 earnings per share. Research analysts anticipate that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 15th. This is a boost from Wingstop's previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.5%. Wingstop's dividend payout ratio (DPR) is presently 20.00%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.