Wellington Management Group LLP Trims Stake in Wingstop Inc. $WING

Key Points

• Wellington Management Group LLP has reduced its stake in Wingstop Inc. by 24.3%, selling 58,129 shares and now owning approximately 0.65% of the company, valued at $40.8 million.
• Key **insider transactions** include CFO Alex Kaleida and SVP Marisa Carona selling significant shares, indicating a 39.24% and 11.19% decrease in their respective holdings.
• Analysts have set a **consensus rating** of "Moderate Buy" for Wingstop, with recent price target increases from firms such as Raymond James and Barclays, reaching up to **$440.00** per share.

Wellington Management Group LLP trimmed its position in Wingstop Inc. (NASDAQ:WING - Free Report) by 24.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 180,813 shares of the restaurant operator's stock after selling 58,129 shares during the period. Wellington Management Group LLP owned 0.65% of Wingstop worth $40,788,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of WING. Alyeska Investment Group L.P. bought a new position in shares of Wingstop in the 4th quarter valued at $151,802,000. Ameriprise Financial Inc. raised its position in Wingstop by 760.9% during the 4th quarter. Ameriprise Financial Inc. now owns 381,745 shares of the restaurant operator's stock worth $108,497,000 after purchasing an additional 337,401 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Wingstop by 29.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,150,217 shares of the restaurant operator's stock worth $326,893,000 after purchasing an additional 262,229 shares during the last quarter. Stephens Investment Management Group LLC raised its position in Wingstop by 66.3% during the 1st quarter. Stephens Investment Management Group LLC now owns 446,601 shares of the restaurant operator's stock worth $100,744,000 after purchasing an additional 178,041 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Wingstop by 95.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 359,304 shares of the restaurant operator's stock worth $102,114,000 after purchasing an additional 175,236 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WING. Bank of America lowered their target price on Wingstop from $430.00 to $420.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Guggenheim increased their price target on Wingstop from $325.00 to $410.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. TD Securities reiterated a "buy" rating and set a $440.00 price target on shares of Wingstop in a report on Tuesday, June 17th. Raymond James Financial upgraded Wingstop from an "outperform" rating to a "strong-buy" rating and set a $420.00 price target for the company in a report on Friday, August 15th. Finally, The Goldman Sachs Group increased their price target on Wingstop from $310.00 to $390.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Wingstop has an average rating of "Moderate Buy" and a consensus target price of $379.52.

Wingstop Stock Performance

Shares of Wingstop stock traded down $2.57 during mid-day trading on Thursday, hitting $336.76. 464,423 shares of the stock were exchanged, compared to its average volume of 817,720. Wingstop Inc. has a 12 month low of $204.00 and a 12 month high of $433.86. The company has a 50-day simple moving average of $332.36 and a 200 day simple moving average of $290.93. The company has a market capitalization of $9.40 billion, a P/E ratio of 56.27, a P/E/G ratio of 4.09 and a beta of 1.84.

Wingstop (NASDAQ:WING - Get Free Report) last posted its quarterly earnings results 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 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 revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 EPS. Analysts predict that Wingstop Inc. will post 4.18 EPS for the current year.

Wingstop Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a $0.30 dividend. This is a boost from Wingstop's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. Wingstop's payout ratio is presently 20.00%.

Insider Buying and Selling

In other Wingstop news, SVP Marisa Carona sold 11,938 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $370.34, for a total transaction of $4,421,118.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Alex Kaleida sold 5,400 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $376.09, for a total transaction of $2,030,886.00. Following the sale, the chief financial officer directly owned 8,362 shares in the company, 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. In the last quarter, insiders have sold 21,838 shares of company stock valued at $8,118,535. 0.72% of the stock is owned by company insiders.

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.