Pacer Advisors Inc. Trims Holdings in Wingstop Inc. (NASDAQ:WING)

Key Points

• Pacer Advisors Inc. has reduced its stake in Wingstop Inc. by 82.7%, holding only 2,665 shares after selling 12,734 shares in the first quarter.
• Wingstop recently announced a quarterly dividend of $0.30 per share, increasing from the previous $0.27, representing an annualized yield of 0.3%.
• Insider sales were notable, with CFO Alex Kaleida and CEO Michael Skipworth selling 5,400 and 4,500 shares respectively, indicating potential shifts in insider sentiment.

Pacer Advisors Inc. lessened its holdings in Wingstop Inc. (NASDAQ:WING - Free Report) by 82.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,665 shares of the restaurant operator's stock after selling 12,734 shares during the period. Pacer Advisors Inc.'s holdings in Wingstop were worth $601,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. MassMutual Private Wealth & Trust FSB increased its stake in Wingstop by 93.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator's stock worth $29,000 after purchasing an additional 62 shares during the period. Signaturefd LLC lifted its holdings in Wingstop by 106.9% during the 1st quarter. Signaturefd LLC now owns 149 shares of the restaurant operator's stock worth $34,000 after buying an additional 77 shares in the last quarter. True Wealth Design LLC boosted its position in Wingstop by 62.1% in the 4th quarter. True Wealth Design LLC now owns 141 shares of the restaurant operator's stock valued at $40,000 after buying an additional 54 shares during the period. Quarry LP purchased a new position in Wingstop in the 4th quarter valued at approximately $41,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Wingstop in the fourth quarter worth $49,000.

Wingstop Stock Performance

WING traded down $14.89 during trading on Friday, reaching $362.45. The company's stock had a trading volume of 1,199,950 shares, compared to its average volume of 770,947. The company's fifty day moving average price is $340.50 and its 200-day moving average price is $285.99. Wingstop Inc. has a 52-week low of $204.00 and a 52-week high of $433.86. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 60.41, a price-to-earnings-growth ratio of 4.85 and a beta of 1.84.

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

Wingstop Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. This is a positive change from Wingstop's previous quarterly dividend of $0.27. The ex-dividend date is Friday, August 15th. Wingstop's dividend payout ratio (DPR) is 18.09%.

Insider Activity at Wingstop

In other Wingstop news, CFO Alex Kaleida sold 5,400 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $376.09, for a total value of $2,030,886.00. Following the completion of the transaction, the chief financial officer directly owned 8,362 shares of the company's stock, valued at approximately $3,144,864.58. This trade represents a 39.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Skipworth sold 4,500 shares of Wingstop stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $370.34, for a total transaction of $1,666,530.00. Following the sale, the chief executive officer owned 42,777 shares of the company's stock, valued at approximately $15,842,034.18. The trade was a 9.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,475 shares of company stock worth $11,665,881 over the last three months. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

WING has been the subject of a number of recent research reports. Piper Sandler began coverage on Wingstop in a report on Wednesday, July 9th. They issued an "overweight" rating for the company. Wall Street Zen lowered shares of Wingstop from a "hold" rating to a "sell" rating in a research note on Saturday. Bank of America decreased their price target on shares of Wingstop from $430.00 to $420.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Truist Financial upgraded shares of Wingstop from a "hold" rating to a "buy" rating and boosted their target price for the stock from $274.00 to $400.00 in a research note on Tuesday, May 27th. Finally, Robert W. Baird lifted their price target on Wingstop from $350.00 to $400.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Wingstop currently has a consensus rating of "Moderate Buy" and a consensus price target of $379.52.

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.