Savoir Faire Capital Management L.P. Sells 19,251 Shares of Wingstop Inc. (NASDAQ:WING)

Savoir Faire Capital Management L.P. reduced its stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 50.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 18,796 shares of the restaurant operator's stock after selling 19,251 shares during the period. Wingstop makes up approximately 3.7% of Savoir Faire Capital Management L.P.'s portfolio, making the stock its 9th biggest holding. Savoir Faire Capital Management L.P. owned 0.07% of Wingstop worth $4,240,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. purchased a new position in Wingstop in the 4th quarter valued at about $151,802,000. Norges Bank purchased a new position in Wingstop in the 4th quarter valued at about $106,123,000. Ameriprise Financial Inc. lifted its stake in Wingstop by 760.9% in 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 in the last quarter. Champlain Investment Partners LLC purchased a new position in Wingstop in the 4th quarter worth approximately $77,855,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Wingstop by 29.5% in 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 in the last quarter.

Insider Buying and Selling at Wingstop

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

Wingstop Stock Performance

WING traded up $0.88 on Friday, hitting $329.34. 384,007 shares of the company were exchanged, compared to its average volume of 657,828. Wingstop Inc. has a fifty-two week low of $204.00 and a fifty-two week high of $433.86. The firm has a market capitalization of $9.19 billion, a P/E ratio of 55.17, a price-to-earnings-growth ratio of 4.60 and a beta of 1.84. The business's fifty day moving average is $338.18 and its 200 day moving average is $282.96.

Wingstop (NASDAQ:WING - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.15. The business had revenue of $171.09 million for the quarter, compared to the consensus estimate of $172.25 million. Wingstop had a net margin of 26.45% and a negative return on equity of 18.85%. The company's quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Analysts forecast that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Friday, May 16th. Wingstop's payout ratio is currently 18.09%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Truist Financial upgraded shares of Wingstop from a "hold" rating to a "buy" rating and raised their price target for the stock from $274.00 to $400.00 in a report on Tuesday, May 27th. Stephens restated an "overweight" rating on shares of Wingstop in a report on Wednesday. Robert W. Baird raised their price target on shares of Wingstop from $350.00 to $400.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Guggenheim raised their price target on shares of Wingstop from $280.00 to $325.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, BTIG Research raised their price target on shares of Wingstop from $350.00 to $430.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Five 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. According to data from MarketBeat, Wingstop presently has an average rating of "Moderate Buy" and a consensus price target of $355.80.

Wingstop Company 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.