Allspring Global Investments Holdings LLC Sells 210,065 Shares of Wingstop Inc. (NASDAQ:WING)

Allspring Global Investments Holdings LLC decreased its stake in Wingstop Inc. (NASDAQ:WING - Free Report) by 41.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 296,330 shares of the restaurant operator's stock after selling 210,065 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.01% of Wingstop worth $76,032,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of WING. Comerica Bank acquired a new stake in Wingstop in the 3rd quarter worth $4,021,000. Teza Capital Management LLC acquired a new stake in Wingstop during the third quarter worth about $1,961,000. Legato Capital Management LLC increased its stake in Wingstop by 5.6% during the fourth quarter. Legato Capital Management LLC now owns 1,605 shares of the restaurant operator's stock valued at $412,000 after acquiring an additional 85 shares during the period. Alberta Investment Management Corp bought a new position in Wingstop during the third quarter valued at about $634,000. Finally, Sei Investments Co. raised its holdings in Wingstop by 19.4% in the 3rd quarter. Sei Investments Co. now owns 141,628 shares of the restaurant operator's stock valued at $25,472,000 after acquiring an additional 22,990 shares in the last quarter.

Insider Buying and Selling

In other news, SVP Marisa Carona sold 2,586 shares of the company's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $371.96, for a total transaction of $961,888.56. Following the transaction, the senior vice president now owns 1,646 shares of the company's stock, valued at $612,246.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Wingstop news, CEO Michael Skipworth sold 10,843 shares of the firm's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total value of $3,658,428.20. Following the transaction, the chief executive officer now directly owns 17,107 shares of the company's stock, valued at $5,771,901.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Marisa Carona sold 2,586 shares of Wingstop stock in a transaction on Friday, March 8th. The stock was sold at an average price of $371.96, for a total transaction of $961,888.56. Following the sale, the senior vice president now directly owns 1,646 shares of the company's stock, valued at approximately $612,246.16. The disclosure for this sale can be found here. Insiders sold 14,901 shares of company stock worth $5,120,605 in the last quarter. Insiders own 0.36% of the company's stock.

Wingstop Stock Performance

Wingstop stock traded up $5.73 on Wednesday, reaching $360.05. The company's stock had a trading volume of 560,385 shares, compared to its average volume of 474,566. The business's fifty day moving average price is $338.68 and its 200 day moving average price is $266.10. The company has a market cap of $10.57 billion, a price-to-earnings ratio of 153.21, a PEG ratio of 6.48 and a beta of 1.68. Wingstop Inc. has a twelve month low of $150.08 and a twelve month high of $379.00.

Wingstop (NASDAQ:WING - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. The business had revenue of $127.06 million during the quarter, compared to analysts' expectations of $120.47 million. Wingstop had a negative return on equity of 17.66% and a net margin of 15.25%. The firm's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 earnings per share. As a group, equities analysts forecast that Wingstop Inc. will post 2.98 earnings per share for the current year.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Thursday, March 7th. Wingstop's dividend payout ratio is currently 37.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WING. Stephens reissued an "overweight" rating and set a $330.00 price objective on shares of Wingstop in a report on Wednesday, February 21st. Truist Financial reissued a "hold" rating and issued a $292.00 price target on shares of Wingstop in a report on Monday, April 1st. Stifel Nicolaus increased their price objective on shares of Wingstop from $270.00 to $330.00 and gave the company a "buy" rating in a research note on Friday, February 16th. Wedbush lifted their target price on shares of Wingstop from $330.00 to $340.00 and gave the company an "outperform" rating in a research report on Thursday, February 22nd. Finally, Sanford C. Bernstein began coverage on shares of Wingstop in a research note on Wednesday, February 14th. They issued an "outperform" rating and a $340.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $260.11.

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.