Wingstop Inc. (NASDAQ:WING) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,774 shares of the restaurant operator's stock after selling 4,824 shares during the quarter. Bank of New York Mellon Corp owned about 0.85% of Wingstop worth $53,637,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ensign Peak Advisors Inc lifted its holdings in shares of Wingstop by 36.0% during the 4th quarter. Ensign Peak Advisors Inc now owns 36,780 shares of the restaurant operator's stock valued at $10,453,000 after acquiring an additional 9,735 shares in the last quarter. Wedmont Private Capital acquired a new position in shares of Wingstop during the 1st quarter valued at $269,000. Wesbanco Bank Inc. lifted its holdings in shares of Wingstop by 79.2% during the 1st quarter. Wesbanco Bank Inc. now owns 6,111 shares of the restaurant operator's stock valued at $1,379,000 after acquiring an additional 2,700 shares in the last quarter. Merit Financial Group LLC lifted its holdings in shares of Wingstop by 167.4% during the 1st quarter. Merit Financial Group LLC now owns 2,035 shares of the restaurant operator's stock valued at $459,000 after acquiring an additional 1,274 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Wingstop by 119.0% during the 1st quarter. Fifth Third Bancorp now owns 1,964 shares of the restaurant operator's stock valued at $443,000 after acquiring an additional 1,067 shares in the last quarter.

Insider Activity

In other Wingstop news, CEO Michael Skipworth sold 10,000 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 47,190 shares in the company, valued at approximately $15,919,074.60. This represents a 17.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Raj Kapoor sold 637 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $273.07, for a total transaction of $173,945.59. Following the completion of the transaction, the senior vice president 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 disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Wingstop Stock Down 0.6%

WING opened at $328.21 on Friday. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 54.98, a price-to-earnings-growth ratio of 4.59 and a beta of 1.84. Wingstop Inc. has a fifty-two week low of $204.00 and a fifty-two week high of $433.86. The company's 50-day moving average price is $332.77 and its 200 day moving average price is $281.66.

Wingstop (NASDAQ:WING - Get Free Report) last posted its earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $172.25 million. During the same quarter in the prior year, the firm earned $0.98 EPS. Wingstop's quarterly revenue was up 17.4% on a year-over-year basis. Research analysts anticipate that Wingstop Inc. will post 4.18 earnings per share for the current year.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.33%. The ex-dividend date was Friday, May 16th. Wingstop's dividend payout ratio (DPR) is 18.09%.

Analyst Ratings Changes

WING has been the topic of a number of recent analyst reports. BTIG Research boosted their price objective on shares of Wingstop from $350.00 to $430.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Wolfe Research initiated coverage on shares of Wingstop in a report on Wednesday. They issued an "outperform" rating and a $280.00 price objective on the stock. Sanford C. Bernstein reiterated an "overweight" rating and issued a $360.00 price objective on shares of Wingstop in a report on Wednesday, May 14th. Robert W. Baird boosted their price objective on shares of Wingstop from $350.00 to $400.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Finally, Citigroup lowered shares of Wingstop from a "neutral" rating to a "cautious" rating in a report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Wingstop presently has an average rating of "Moderate Buy" and an average target price of $358.83.

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.

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