Victory Capital Management Inc. Sells 14,970 Shares of Wingstop Inc. (NASDAQ:WING)

Victory Capital Management Inc. trimmed its position in Wingstop Inc. (NASDAQ:WING - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,582 shares of the restaurant operator's stock after selling 14,970 shares during the quarter. Victory Capital Management Inc. owned about 0.24% of Wingstop worth $18,367,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of WING. Mach 1 Financial Group LLC acquired a new position in shares of Wingstop during the 4th quarter worth about $467,000. Russell Investments Group Ltd. boosted its stake in shares of Wingstop by 3.7% in the fourth quarter. Russell Investments Group Ltd. now owns 53,929 shares of the restaurant operator's stock worth $13,837,000 after acquiring an additional 1,930 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Wingstop by 136.8% during the fourth quarter. Headlands Technologies LLC now owns 495 shares of the restaurant operator's stock worth $127,000 after purchasing an additional 286 shares in the last quarter. Kovack Advisors Inc. increased its position in shares of Wingstop by 1.7% during the fourth quarter. Kovack Advisors Inc. now owns 2,319 shares of the restaurant operator's stock worth $595,000 after purchasing an additional 39 shares in the last quarter. Finally, Semanteon Capital Management LP purchased a new position in Wingstop in the 4th quarter valued at $798,000.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of Wingstop from $350.00 to $418.00 and gave the company an "overweight" rating in a research note on Thursday, May 2nd. Morgan Stanley boosted their price objective on Wingstop from $280.00 to $315.00 and gave the stock an "equal weight" rating in a research note on Friday, April 12th. Jefferies Financial Group raised their target price on Wingstop from $310.00 to $335.00 and gave the stock a "hold" rating in a research note on Tuesday, April 16th. TD Cowen reissued a "buy" rating and issued a $410.00 price objective on shares of Wingstop in a report on Wednesday, May 1st. Finally, BMO Capital Markets boosted their target price on shares of Wingstop from $275.00 to $325.00 and gave the company a "market perform" rating in a report on Thursday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Wingstop presently has an average rating of "Hold" and an average target price of $330.39.

Insider Buying and Selling

In related news, CEO Michael Skipworth sold 10,843 shares of the stock in a transaction on Friday, February 23rd. The stock was 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 owns 17,107 shares of the company's stock, valued at $5,771,901.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Wingstop news, Director Kate S. Lavelle sold 750 shares of the firm's stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $394.57, for a total transaction of $295,927.50. Following the transaction, the director now owns 3,567 shares of the company's stock, valued at $1,407,431.19. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Skipworth sold 10,843 shares of Wingstop stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $337.40, for a total value of $3,658,428.20. Following the sale, the chief executive officer now owns 17,107 shares in the company, valued at approximately $5,771,901.80. The disclosure for this sale can be found here. Insiders sold 19,881 shares of company stock worth $7,093,305 over the last 90 days. 0.36% of the stock is owned by insiders.

Wingstop Stock Down 2.0 %

WING stock traded down $7.77 during midday trading on Friday, hitting $390.02. The company's stock had a trading volume of 321,035 shares, compared to its average volume of 480,163. The firm has a 50-day simple moving average of $364.48 and a 200-day simple moving average of $293.96. The firm has a market capitalization of $11.45 billion, a P/E ratio of 140.21, a PEG ratio of 5.42 and a beta of 1.67. Wingstop Inc. has a 52-week low of $150.08 and a 52-week high of $400.99.

Wingstop (NASDAQ:WING - Get Free Report) last released its earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.22. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The firm had revenue of $145.70 million during the quarter, compared to analyst estimates of $136.34 million. During the same period last year, the business posted $0.59 earnings per share. Wingstop's revenue was up 34.0% compared to the same quarter last year. On average, sell-side analysts expect that Wingstop Inc. will post 3.4 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $0.22 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.88 annualized dividend and a yield of 0.23%. Wingstop's dividend payout ratio (DPR) is 31.32%.

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.