Wingstop Inc. $WING Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Wingstop Inc. by 2.7%, selling 1,366 shares to own a total of 49,172 shares valued at approximately $16.56 million.
• Wingstop recently increased its quarterly dividend from $0.27 to $0.30 per share, providing a yield of 0.5% for shareholders.
• Wingstop's stock opened at $257.04, reflecting a market capitalization of $7.18 billion and a strong performance with a 12% year-over-year revenue growth reported in its last quarterly earnings.

TD Asset Management Inc decreased its position in Wingstop Inc. (NASDAQ:WING - Free Report) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,172 shares of the restaurant operator's stock after selling 1,366 shares during the quarter. TD Asset Management Inc owned 0.18% of Wingstop worth $16,558,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of Wingstop by 16.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 223 shares of the restaurant operator's stock valued at $75,000 after purchasing an additional 32 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Wingstop by 22.3% during the second quarter. Parallel Advisors LLC now owns 181 shares of the restaurant operator's stock worth $61,000 after purchasing an additional 33 shares in the last quarter. Wedmont Private Capital increased its holdings in Wingstop by 2.9% in the second quarter. Wedmont Private Capital now owns 1,165 shares of the restaurant operator's stock valued at $389,000 after buying an additional 33 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in Wingstop by 0.5% in the second quarter. Harbor Capital Advisors Inc. now owns 6,569 shares of the restaurant operator's stock valued at $2,212,000 after buying an additional 34 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Wingstop by 26.2% in the second quarter. Signaturefd LLC now owns 188 shares of the restaurant operator's stock valued at $63,000 after buying an additional 39 shares in the last quarter.

Insider Buying and Selling at Wingstop

In related news, SVP Marisa Carona sold 11,938 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $370.34, for a total value of $4,421,118.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Alex Kaleida sold 5,400 shares of the company's stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 8,362 shares of the company's stock, valued at approximately $3,144,864.58. This represents a 39.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,838 shares of company stock worth $8,118,535. 0.72% of the stock is owned by company insiders.

Wingstop Stock Up 4.4%

Shares of NASDAQ WING opened at $257.04 on Friday. The business has a 50-day moving average price of $286.20 and a 200 day moving average price of $298.48. The stock has a market cap of $7.18 billion, a PE ratio of 42.84, a price-to-earnings-growth ratio of 3.13 and a beta of 1.78. Wingstop Inc. has a 52-week low of $204.00 and a 52-week high of $388.14.

Wingstop (NASDAQ:WING - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $174.33 million during the quarter, compared to analysts' expectations of $172.60 million. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.The firm's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 earnings per share. Sell-side analysts anticipate that Wingstop Inc. will post 4.18 earnings per share for the current year.

Wingstop Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, August 15th. This is an increase from Wingstop's previous quarterly dividend of $0.27. Wingstop's payout ratio is 20.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WING. Wolfe Research began coverage on Wingstop in a report on Wednesday, July 9th. They issued an "outperform" rating and a $280.00 price objective on the stock. Citigroup upped their price target on Wingstop from $296.00 to $321.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Stephens set a $375.00 price objective on shares of Wingstop in a report on Monday. Raymond James Financial restated a "strong-buy" rating and set a $350.00 price objective (down previously from $420.00) on shares of Wingstop in a research report on Thursday. Finally, Benchmark lowered their target price on shares of Wingstop from $410.00 to $340.00 and set a "buy" rating for the company in a report on Monday, September 29th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $366.73.

Wingstop Company 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.

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