Jennison Associates LLC Has $42.36 Million Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Jennison Associates LLC reduced its holdings in Wingstop Inc. (NASDAQ:WING - Free Report) by 20.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 165,100 shares of the restaurant operator's stock after selling 42,061 shares during the quarter. Jennison Associates LLC owned 0.56% of Wingstop worth $42,361,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. National Bank of Canada FI grew its holdings in shares of Wingstop by 93.6% during the third quarter. National Bank of Canada FI now owns 12,570 shares of the restaurant operator's stock worth $2,225,000 after buying an additional 6,077 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Wingstop by 3.9% during the third quarter. SG Americas Securities LLC now owns 9,336 shares of the restaurant operator's stock worth $1,679,000 after buying an additional 352 shares in the last quarter. Ziegler Capital Management LLC grew its holdings in shares of Wingstop by 21.4% during the third quarter. Ziegler Capital Management LLC now owns 2,700 shares of the restaurant operator's stock worth $486,000 after buying an additional 476 shares in the last quarter. BTC Capital Management Inc. grew its holdings in shares of Wingstop by 20.8% during the third quarter. BTC Capital Management Inc. now owns 1,427 shares of the restaurant operator's stock worth $257,000 after buying an additional 246 shares in the last quarter. Finally, Copeland Capital Management LLC grew its holdings in shares of Wingstop by 13.1% during the third quarter. Copeland Capital Management LLC now owns 462,173 shares of the restaurant operator's stock worth $83,117,000 after buying an additional 53,688 shares in the last quarter.

Wingstop Stock Performance

NASDAQ:WING traded down $1.99 during mid-day trading on Wednesday, hitting $362.74. 270,879 shares of the stock were exchanged, compared to its average volume of 465,103. The stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of 154.36, a price-to-earnings-growth ratio of 6.27 and a beta of 1.68. The firm's 50-day simple moving average is $351.10 and its 200 day simple moving average is $278.19. Wingstop Inc. has a fifty-two week low of $150.08 and a fifty-two week 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 for the quarter, topping the consensus estimate 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 last year, the firm posted $0.60 EPS. On average, analysts predict that Wingstop Inc. will post 3.01 EPS for the current fiscal year.

Wingstop Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on WING shares. Stephens started coverage on Wingstop in a report on Friday, April 12th. They set an "overweight" rating and a $425.00 price objective for the company. Truist Financial restated a "hold" rating and issued a $292.00 price target on shares of Wingstop in a research note on Monday, April 1st. Wedbush raised their price target on Wingstop from $330.00 to $340.00 and gave the company an "outperform" rating in a research note on Thursday, February 22nd. Robert W. Baird raised their price target on Wingstop from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Thursday, February 22nd. Finally, Morgan Stanley raised their price target on Wingstop from $280.00 to $315.00 and gave the company an "equal weight" rating in a research note on Friday, April 12th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $290.83.

Insider Buying and Selling

In related news, Director Kilandigalu Madati sold 1,472 shares of the company's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $339.87, for a total transaction of $500,288.64. Following the sale, the director now owns 5,450 shares in the company, valued at approximately $1,852,291.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, 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 completion of the sale, the senior vice president now owns 1,646 shares of the company's stock, valued at $612,246.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kilandigalu Madati sold 1,472 shares of Wingstop stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $339.87, for a total value of $500,288.64. Following the sale, the director now directly owns 5,450 shares of the company's stock, valued at approximately $1,852,291.50. The disclosure for this sale can be found here. Insiders have sold 14,901 shares of company stock worth $5,120,605 in the last 90 days. Insiders own 0.36% of the company's stock.

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.