Allspring Global Investments Holdings LLC Sells 11,290 Shares of Wingstop Inc. (NASDAQ:WING)

Allspring Global Investments Holdings LLC lessened its position in Wingstop Inc. (NASDAQ:WING - Free Report) by 7.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 133,654 shares of the restaurant operator's stock after selling 11,290 shares during the period. Allspring Global Investments Holdings LLC owned 0.48% of Wingstop worth $31,596,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WING. EverSource Wealth Advisors LLC grew its holdings in Wingstop by 521.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator's stock worth $25,000 after acquiring an additional 73 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in Wingstop by 62.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator's stock worth $26,000 after acquiring an additional 35 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Wingstop by 93.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator's stock worth $29,000 after acquiring an additional 62 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Wingstop in the 4th quarter worth $30,000. Finally, True Wealth Design LLC lifted its position in shares of Wingstop by 62.1% in the 4th 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.

Wingstop Stock Performance

Shares of WING stock traded down $1.29 during trading hours on Tuesday, reaching $335.45. The company had a trading volume of 562,181 shares, compared to its average volume of 649,817. The business has a fifty day moving average price of $316.04 and a 200-day moving average price of $279.26. Wingstop Inc. has a one year low of $204.00 and a one year high of $433.86. The firm has a market cap of $9.36 billion, a PE ratio of 56.19, a price-to-earnings-growth ratio of 4.86 and a beta of 1.88.

Wingstop (NASDAQ:WING - Get Free Report) last announced its quarterly earnings results 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 net margin of 26.45% and a negative return on equity of 18.85%. The firm had revenue of $171.09 million during the quarter, compared to analyst estimates of $172.25 million. During the same period in the previous year, the business posted $0.98 earnings per share. The business's revenue for the quarter was up 17.4% on a year-over-year basis. Equities research analysts forecast that Wingstop Inc. will post 4.18 EPS for the current 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 paid 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 0.32%. Wingstop's dividend payout ratio is presently 18.09%.

Analyst Upgrades and Downgrades

WING has been the subject of several research analyst reports. Stephens reaffirmed an "overweight" rating and issued a $385.00 target price on shares of Wingstop in a research report on Wednesday, May 14th. Cowen reaffirmed a "buy" rating on shares of Wingstop in a research report on Thursday, May 1st. Barclays reaffirmed an "overweight" rating and issued a $410.00 target price (up from $360.00) on shares of Wingstop in a research report on Thursday, June 26th. UBS Group dropped their target price on shares of Wingstop from $300.00 to $255.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Finally, Citigroup cut shares of Wingstop from a "neutral" rating to a "cautious" rating in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wingstop currently has an average rating of "Moderate Buy" and an average target price of $362.26.

Insider Buying and Selling

In other news, CEO Michael Skipworth sold 10,000 shares of Wingstop 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 completion of the sale, the chief executive officer directly owned 47,190 shares in the company, valued at $15,919,074.60. The trade was a 17.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Raj Kapoor sold 637 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president owned 517 shares of the company's stock, valued at $141,177.19. This trade represents a 55.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

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.