Keybank National Association OH Acquires New Position in Wingstop Inc. (NASDAQ:WING)

Keybank National Association OH purchased a new position in shares of Wingstop Inc. (NASDAQ:WINGGet Rating) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,257 shares of the restaurant operator’s stock, valued at approximately $244,000.

Several other hedge funds also recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Wingstop by 1.5% during the 1st quarter. BlackRock Inc. now owns 3,586,391 shares of the restaurant operator’s stock worth $420,864,000 after purchasing an additional 51,296 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Wingstop by 5.9% during the 1st quarter. American Century Companies Inc. now owns 1,948,040 shares of the restaurant operator’s stock worth $228,603,000 after purchasing an additional 108,916 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Wingstop by 3.5% during the 1st quarter. Wellington Management Group LLP now owns 1,751,221 shares of the restaurant operator’s stock worth $205,506,000 after purchasing an additional 59,529 shares during the last quarter. State Street Corp grew its stake in Wingstop by 2.6% in the 1st quarter. State Street Corp now owns 919,752 shares of the restaurant operator’s stock valued at $111,549,000 after buying an additional 22,958 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its stake in Wingstop by 20.5% in the 2nd quarter. Stephens Investment Management Group LLC now owns 840,100 shares of the restaurant operator’s stock valued at $62,814,000 after buying an additional 142,698 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WING. Truist Financial raised their target price on shares of Wingstop from $125.00 to $132.00 in a research note on Thursday, October 27th. BTIG Research raised their target price on shares of Wingstop from $145.00 to $170.00 in a research note on Thursday, October 27th. Cowen raised their target price on shares of Wingstop from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, October 27th. Wedbush raised their target price on shares of Wingstop from $157.00 to $177.00 and gave the company an “outperform” rating in a research note on Wednesday, October 26th. Finally, The Goldman Sachs Group increased their price target on shares of Wingstop from $141.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, October 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Wingstop currently has an average rating of “Moderate Buy” and a consensus price target of $156.06.

Wingstop Stock Performance

NASDAQ:WING opened at $166.91 on Monday. The company has a 50-day moving average of $137.23 and a 200-day moving average of $110.38. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 118.38, a PEG ratio of 9.24 and a beta of 1.61. Wingstop Inc. has a 52 week low of $67.67 and a 52 week high of $178.68.

Wingstop (NASDAQ:WINGGet Rating) last released its quarterly earnings data on Wednesday, October 26th. The restaurant operator reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The company had revenue of $92.67 million during the quarter, compared to the consensus estimate of $89.81 million. Wingstop had a net margin of 13.01% and a negative return on equity of 11.46%. Sell-side analysts forecast that Wingstop Inc. will post 1.65 EPS for the current year.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 11th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Wednesday, November 9th. Wingstop’s dividend payout ratio (DPR) is currently 53.90%.

Insider Buying and Selling

In related news, CEO Michael Skipworth sold 3,827 shares of the stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $158.98, for a total transaction of $608,416.46. Following the completion of the sale, the chief executive officer now owns 17,070 shares in the company, valued at approximately $2,713,788.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.64% of the stock is currently owned by corporate insiders.

Wingstop Profile

(Get Rating)

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. As of December 25, 2021, the company had 1,695 franchised restaurants and 36 company-owned restaurants in 44 states and 7 countries worldwide.

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Institutional Ownership by Quarter for Wingstop (NASDAQ:WING)

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