Fiera Capital Corp Sells 1,944 Shares of Wingstop Inc. (NASDAQ:WING)

Key Points

• Fiera Capital Corp reduced its stake in Wingstop Inc. by 0.8% during the first quarter, retaining 235,059 shares valued at approximately $53 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Wingstop, with an average price target of $355.80 and a mix of buy and hold ratings from various investment firms.
• CEO Michael Skipworth sold 10,000 shares of Wingstop at an average price of $337.34, resulting in a significant decrease in his ownership position by 17.49%.

Fiera Capital Corp reduced its stake in Wingstop Inc. (NASDAQ:WING - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 235,059 shares of the restaurant operator's stock after selling 1,944 shares during the period. Fiera Capital Corp owned 0.84% of Wingstop worth $53,025,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tidal Investments LLC increased its holdings in shares of Wingstop by 4.9% in the fourth quarter. Tidal Investments LLC now owns 795 shares of the restaurant operator's stock valued at $226,000 after purchasing an additional 37 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of Wingstop by 7.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 740 shares of the restaurant operator's stock valued at $210,000 after acquiring an additional 54 shares during the period. True Wealth Design LLC boosted its position in shares of Wingstop by 62.1% in the fourth quarter. True Wealth Design LLC now owns 141 shares of the restaurant operator's stock valued at $40,000 after acquiring an additional 54 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Wingstop by 93.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 62 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Wingstop by 1.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 6,023 shares of the restaurant operator's stock valued at $1,359,000 after acquiring an additional 65 shares during the period.

Wingstop Stock Performance

Shares of Wingstop stock traded down $9.24 on Friday, hitting $368.10. The stock had a trading volume of 765,580 shares, compared to its average volume of 830,660. The stock has a 50 day moving average of $339.70 and a 200 day moving average of $285.28. Wingstop Inc. has a twelve month low of $204.00 and a twelve month high of $433.86. The firm has a market capitalization of $10.27 billion, a P/E ratio of 61.37, a PEG ratio of 4.97 and a beta of 1.84.

Wingstop (NASDAQ:WING - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.12. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%. The company had revenue of $174.33 million during the quarter, compared to the consensus estimate of $172.60 million. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The firm's revenue was up 12.0% compared to the same quarter last year. Equities analysts expect that Wingstop Inc. will post 4.18 earnings per share for the current year.

Wingstop Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be paid a $0.30 dividend. This is an increase from Wingstop's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 15th. Wingstop's payout ratio is currently 18.09%.

Insider Activity at Wingstop

In other Wingstop news, CEO Michael Skipworth sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were 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 owned 47,190 shares in the company, valued at approximately $15,919,074.60. This trade represents a 17.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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 in the company, valued at $141,177.19. This trade represents a 55.20% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

WING has been the subject of a number of recent research reports. Stephens boosted their target price on shares of Wingstop from $400.00 to $425.00 and gave the company an "overweight" rating in a research report on Thursday. The Goldman Sachs Group boosted their target price on shares of Wingstop from $310.00 to $390.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Bank of America reduced their target price on shares of Wingstop from $430.00 to $420.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Sanford C. Bernstein reaffirmed an "overweight" rating and set a $440.00 price objective on shares of Wingstop in a research report on Thursday. Finally, TD Securities reaffirmed a "buy" rating and set a $440.00 price objective on shares of Wingstop in a research report on Tuesday, June 17th. Five investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Wingstop presently has a consensus rating of "Moderate Buy" and an average price target of $379.52.

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.