Wesbanco Bank Inc. Has $1.65 Million Holdings in Wingstop Inc. $WING

Key Points

• Wesbanco Bank Inc. reduced its holdings in Wingstop Inc. by 19.8%, owning 4,900 shares worth approximately $1.65 million after selling 1,211 shares in the second quarter.
• Wingstop recently increased its quarterly dividend from $0.27 to $0.30, reflecting a 0.5% yield and a 20.00% payout ratio.
• Despite a trading decrease of 3.2%, Wingstop reported better-than-expected earnings at $1.00 per share, surpassing analysts' estimates of $0.88, with 12% revenue growth year-over-year.

Wesbanco Bank Inc. lessened its holdings in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 19.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,900 shares of the restaurant operator's stock after selling 1,211 shares during the period. Wesbanco Bank Inc.'s holdings in Wingstop were worth $1,650,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in WING. MassMutual Private Wealth & Trust FSB increased its stake in shares of Wingstop by 93.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 62 shares during the last quarter. Signaturefd LLC grew its position in shares of 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 acquiring an additional 77 shares during the period. True Wealth Design LLC increased its holdings in shares of Wingstop by 62.1% during the 4th 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 last quarter. Geneos Wealth Management Inc. lifted its position in Wingstop by 121.4% during the first quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator's stock worth $49,000 after acquiring an additional 119 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Wingstop by 280.3% in the first quarter. UMB Bank n.a. now owns 270 shares of the restaurant operator's stock valued at $61,000 after acquiring an additional 199 shares during the period.

Wingstop Trading Down 3.2%

WING opened at $266.02 on Monday. Wingstop Inc. has a 12-month low of $204.00 and a 12-month high of $433.86. The stock has a 50-day moving average price of $323.32 and a 200-day moving average price of $293.96. The stock has a market capitalization of $7.43 billion, a P/E ratio of 44.34, a PEG ratio of 3.34 and a beta of 1.87.

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 firm had revenue of $174.33 million during the quarter, compared to analyst estimates of $172.60 million. Wingstop had a net margin of 25.61% and a negative return on equity of 17.07%. The business's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS. On average, equities research analysts predict that Wingstop Inc. will post 4.18 EPS for the current year.

Wingstop Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were given a $0.30 dividend. The ex-dividend date was Friday, August 15th. This is an increase from Wingstop's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 0.5%. Wingstop's dividend payout ratio is presently 20.00%.

Insider Buying and Selling at Wingstop

In other news, SVP Marisa Carona sold 11,938 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $370.34, for a total transaction of $4,421,118.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Alex Kaleida sold 5,400 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $376.09, for a total transaction of $2,030,886.00. Following the completion of the transaction, the chief financial officer owned 8,362 shares of the company's stock, valued at $3,144,864.58. This trade represents a 39.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,838 shares of company stock valued at $8,118,535 in the last quarter. Company insiders own 0.72% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Melius assumed coverage on Wingstop in a research note on Monday, July 14th. They set a "hold" rating and a $350.00 target price for the company. Barclays raised their target price on Wingstop from $410.00 to $440.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Piper Sandler initiated coverage on Wingstop in a research note on Wednesday, July 9th. They set an "overweight" rating for the company. Stephens reissued an "overweight" rating and set a $425.00 price target on shares of Wingstop in a research report on Wednesday, September 3rd. Finally, Guggenheim raised their target price on Wingstop from $325.00 to $410.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $380.52.

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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