Wingstop Inc. (NASDAQ:WING) Holdings Lifted by Fifth Third Bancorp

Fifth Third Bancorp grew its stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 119.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,964 shares of the restaurant operator's stock after purchasing an additional 1,067 shares during the period. Fifth Third Bancorp's holdings in Wingstop were worth $443,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC grew its holdings in Wingstop by 3.9% during the fourth quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator's stock valued at $256,000 after purchasing an additional 34 shares during the period. CBIZ Investment Advisory Services LLC grew its holdings in Wingstop by 62.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator's stock valued at $26,000 after purchasing an additional 35 shares during the period. V Square Quantitative Management LLC grew its holdings in Wingstop by 34.9% during the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator's stock valued at $41,000 after purchasing an additional 37 shares during the period. Tidal Investments LLC lifted its position in shares of Wingstop by 4.9% during the fourth quarter. Tidal Investments LLC now owns 795 shares of the restaurant operator's stock worth $226,000 after acquiring an additional 37 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Wingstop by 0.5% during the fourth quarter. Arizona State Retirement System now owns 8,499 shares of the restaurant operator's stock worth $2,415,000 after acquiring an additional 42 shares in the last quarter.

Wingstop Stock Performance

NASDAQ WING traded down $0.32 on Friday, reaching $350.00. 910,665 shares of the stock traded hands, compared to its average volume of 643,456. The company has a fifty day moving average price of $300.36 and a 200-day moving average price of $278.57. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 58.63, a PEG ratio of 4.89 and a beta of 1.88. Wingstop Inc. has a 12 month low of $204.00 and a 12 month high of $433.86.

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

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders 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 dividend yield of 0.31%. Wingstop's dividend payout ratio is presently 18.09%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WING. BTIG Research increased their price objective on Wingstop from $350.00 to $430.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. UBS Group lowered their price objective on Wingstop from $300.00 to $255.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company raised their price target on Wingstop from $320.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Cowen restated a "buy" rating on shares of Wingstop in a research report on Thursday, May 1st. Finally, Stephens restated an "overweight" rating and set a $385.00 price target on shares of Wingstop in a research report on Wednesday, May 14th. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wingstop currently has a consensus rating of "Moderate Buy" and a consensus price target of $352.70.

Insider Activity

In other news, SVP Raj Kapoor sold 637 shares of the company's 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 completion of the sale, the senior vice president now directly owns 517 shares in the company, valued at $141,177.19. This represents a 55.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $3,373,400.00. Following the transaction, the chief executive officer now owns 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. Company insiders own 0.72% of the company's stock.

About Wingstop

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.