Fifth Third Bancorp Has $443,000 Stock Position in Wingstop Inc. (NASDAQ:WING)

Fifth Third Bancorp increased its stake in Wingstop Inc. (NASDAQ:WING - Free Report) by 119.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,964 shares of the restaurant operator's stock after purchasing an additional 1,067 shares during the quarter. Fifth Third Bancorp's holdings in Wingstop were worth $443,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in Wingstop by 521.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator's stock worth $25,000 after purchasing an additional 73 shares during the period. CBIZ Investment Advisory Services LLC lifted its holdings in Wingstop by 62.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator's stock worth $26,000 after purchasing an additional 35 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Wingstop in the fourth quarter worth about $30,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Wingstop by 93.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator's stock worth $29,000 after purchasing an additional 62 shares during the period. Finally, True Wealth Design LLC lifted its holdings in Wingstop by 62.1% in the fourth quarter. True Wealth Design LLC now owns 141 shares of the restaurant operator's stock worth $40,000 after purchasing an additional 54 shares during the period.

Insider Buying and Selling

In related news, SVP Raj Kapoor sold 637 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $273.07, for a total value of $173,945.59. Following the transaction, the senior vice president now owns 517 shares in the company, valued at approximately $141,177.19. This represents a 55.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael Skipworth sold 10,000 shares of the 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 now owns 47,190 shares in the company, valued at approximately $15,919,074.60. This trade represents a 17.49% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group cut their price target on shares of Wingstop from $300.00 to $255.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Bank of America upped their price target on shares of Wingstop from $319.00 to $360.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Wedbush cut their price target on shares of Wingstop from $390.00 to $355.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Stephens reissued an "overweight" rating and issued a $385.00 price target on shares of Wingstop in a report on Wednesday, May 14th. Finally, TD Securities reissued a "buy" rating and issued a $440.00 price target on shares of Wingstop in a report on Tuesday. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $352.70.

Wingstop Stock Up 1.2%

Shares of WING traded up $4.18 during trading hours on Thursday, reaching $350.32. The company's stock had a trading volume of 523,856 shares, compared to its average volume of 641,003. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 58.68, a P/E/G ratio of 4.90 and a beta of 1.88. Wingstop Inc. has a 1-year low of $204.00 and a 1-year high of $433.86. The company has a 50 day moving average of $298.11 and a two-hundred day moving average of $278.82.

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

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were issued a $0.27 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.08 dividend on an annualized basis and a yield of 0.31%. Wingstop's dividend payout ratio is currently 18.09%.

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.