Shell Asset Management Co. Raises Stock Position in Wingstop Inc. (NASDAQ:WING)

Shell Asset Management Co. boosted its stake in shares of Wingstop Inc. (NASDAQ:WINGGet Rating) by 26.1% in the second quarter, HoldingsChannel.com reports. The fund owned 3,440 shares of the restaurant operator’s stock after purchasing an additional 712 shares during the period. Shell Asset Management Co.’s holdings in Wingstop were worth $257,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its position in Wingstop by 11.9% during the second quarter. Fifth Third Bancorp now owns 838 shares of the restaurant operator’s stock worth $63,000 after acquiring an additional 89 shares during the period. Lindbrook Capital LLC increased its position in Wingstop by 12.9% during the second quarter. Lindbrook Capital LLC now owns 807 shares of the restaurant operator’s stock worth $60,000 after purchasing an additional 92 shares during the last quarter. Congress Asset Management Co. MA increased its position in Wingstop by 1.0% during the second quarter. Congress Asset Management Co. MA now owns 9,890 shares of the restaurant operator’s stock worth $739,000 after purchasing an additional 100 shares during the last quarter. Smith Anglin Financial LLC increased its position in Wingstop by 3.8% during the second quarter. Smith Anglin Financial LLC now owns 3,856 shares of the restaurant operator’s stock worth $288,000 after purchasing an additional 140 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its stake in Wingstop by 0.6% during the second quarter. Retirement Systems of Alabama now owns 39,357 shares of the restaurant operator’s stock worth $2,943,000 after buying an additional 223 shares during the period.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Wingstop from $115.00 to $145.00 in a research note on Thursday, October 27th. Truist Financial lifted their target price on shares of Wingstop from $125.00 to $132.00 in a report on Thursday, October 27th. Wedbush boosted their price objective on shares of Wingstop from $157.00 to $177.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 26th. Cowen upped their price objective 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. Finally, BTIG Research upped their price target on Wingstop from $145.00 to $170.00 in a research report on Thursday, October 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.06.

Insider Transactions at Wingstop

In other news, CEO Michael Skipworth sold 3,827 shares of Wingstop stock in a transaction dated Monday, October 31st. The stock was 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 directly owns 17,070 shares in the company, valued at approximately $2,713,788.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Wingstop news, SVP Albert G. Mcgrath sold 1,500 shares of Wingstop stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $159.77, for a total transaction of $239,655.00. Following the sale, the senior vice president now directly owns 2,357 shares of the company’s stock, valued at $376,577.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Skipworth sold 3,827 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $158.98, for a total value of $608,416.46. Following the completion of the sale, the chief executive officer now directly owns 17,070 shares in the company, valued at approximately $2,713,788.60. The disclosure for this sale can be found here. Insiders sold a total of 11,754 shares of company stock valued at $1,877,998 over the last quarter. Company insiders own 0.64% of the company’s stock.

Wingstop Trading Up 0.2 %

WING stock opened at $160.20 on Friday. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 113.62, a price-to-earnings-growth ratio of 9.06 and a beta of 1.61. Wingstop Inc. has a 52 week low of $67.67 and a 52 week high of $178.68. The firm’s 50-day moving average is $139.90 and its two-hundred day moving average is $112.58.

Wingstop (NASDAQ:WINGGet Rating) last issued its quarterly earnings results on Wednesday, October 26th. The restaurant operator reported $0.45 EPS for the quarter, topping the consensus estimate of $0.36 by $0.09. Wingstop had a net margin of 13.01% and a negative return on equity of 11.46%. The firm had revenue of $92.67 million for the quarter, compared to analysts’ expectations of $89.81 million. On average, equities research analysts predict that Wingstop Inc. will post 1.65 earnings per share for the current year.

Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 11th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Wednesday, November 9th. Wingstop’s payout ratio is 53.90%.

Wingstop Profile

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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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