Wesbanco Bank Inc. Has $1.38 Million Stake in Wingstop Inc. (NASDAQ:WING)

Wesbanco Bank Inc. lifted its holdings in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 79.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,111 shares of the restaurant operator's stock after buying an additional 2,700 shares during the period. Wesbanco Bank Inc.'s holdings in Wingstop were worth $1,379,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. increased its holdings in Wingstop by 14.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,170 shares of the restaurant operator's stock valued at $901,000 after buying an additional 400 shares in the last quarter. Savant Capital LLC increased its stake in Wingstop by 43.5% during the 4th quarter. Savant Capital LLC now owns 5,536 shares of the restaurant operator's stock worth $1,573,000 after buying an additional 1,678 shares during the period. V Square Quantitative Management LLC increased its stake in Wingstop by 34.9% during the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator's stock worth $41,000 after buying an additional 37 shares during the period. New York State Teachers Retirement System increased its stake in Wingstop by 5.6% during the 4th quarter. New York State Teachers Retirement System now owns 35,752 shares of the restaurant operator's stock worth $10,161,000 after buying an additional 1,893 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Wingstop by 103.2% in the 4th quarter. Blue Trust Inc. now owns 256 shares of the restaurant operator's stock worth $73,000 after purchasing an additional 130 shares during the last quarter.

Insider Activity at Wingstop

In other news, SVP Raj Kapoor sold 637 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $273.07, for a total value of $173,945.59. Following the transaction, the senior vice president now directly owns 517 shares of the company's stock, valued at approximately $141,177.19. This represents a 55.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Skipworth sold 10,000 shares of the company'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 completion of the transaction, the chief executive officer now directly owns 47,190 shares in the company, valued at $15,919,074.60. This trade 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 insiders.

Wingstop Trading Down 1.2%

WING stock traded down $4.39 on Friday, hitting $354.06. 1,202,172 shares of the company's stock traded hands, compared to its average volume of 639,008. Wingstop Inc. has a 1-year low of $204.00 and a 1-year high of $433.86. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of 95.43, a P/E/G ratio of 2.27 and a beta of 1.88. The stock has a fifty day moving average of $289.26 and a 200-day moving average of $278.27.

Wingstop (NASDAQ:WING - Get Free Report) last released its earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 EPS for the quarter, beating the consensus estimate 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 net margin of 17.37% and a negative return on equity of 21.59%. The business's quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. On average, equities research analysts anticipate that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were given a $0.27 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.08 annualized dividend and a dividend yield of 0.31%. Wingstop's dividend payout ratio (DPR) is presently 18.09%.

Analysts Set New Price Targets

WING has been the subject of several research analyst reports. Wells Fargo & Company boosted their target price on shares of Wingstop from $320.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. BTIG Research boosted their price objective on shares of Wingstop from $350.00 to $430.00 and gave the company a "buy" rating in a research report on Wednesday. Sanford C. Bernstein reissued an "overweight" rating and set a $360.00 target price on shares of Wingstop in a research note on Wednesday, May 14th. Piper Sandler boosted their target price on shares of Wingstop from $271.00 to $272.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus reduced their target price on shares of Wingstop from $375.00 to $350.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Wingstop currently has an average rating of "Moderate Buy" and a consensus price target of $350.96.

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.