Comerica Bank Sells 212 Shares of Wingstop Inc. (NASDAQ:WING)

Comerica Bank cut its stake in shares of Wingstop Inc. (NASDAQ:WINGGet Rating) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,736 shares of the restaurant operator’s stock after selling 212 shares during the quarter. Comerica Bank’s holdings in Wingstop were worth $1,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Fifth Third Bancorp lifted its holdings in shares of Wingstop by 11.9% during the 2nd 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 last quarter. Lindbrook Capital LLC lifted its stake 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 lifted its stake 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. Securian Asset Management Inc. lifted its stake in Wingstop by 3.7% during the third quarter. Securian Asset Management Inc. now owns 2,768 shares of the restaurant operator’s stock worth $347,000 after purchasing an additional 100 shares during the last quarter. Finally, Smith Anglin Financial LLC lifted its position in Wingstop by 3.8% in the 2nd quarter. Smith Anglin Financial LLC now owns 3,856 shares of the restaurant operator’s stock worth $288,000 after buying an additional 140 shares during the last quarter.

Insider Buying and Selling

In other news, SVP Albert G. Mcgrath sold 1,500 shares of the stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $159.77, for a total value of $239,655.00. Following the completion of the transaction, the senior vice president now owns 2,357 shares of the company’s stock, valued at approximately $376,577.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Wingstop news, SVP Albert G. Mcgrath sold 1,500 shares of the stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $159.77, for a total value of $239,655.00. Following the completion of the transaction, the senior vice president now owns 2,357 shares in the company, valued at $376,577.89. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Stacy Peterson sold 6,427 shares of the stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $160.25, for a total value of $1,029,926.75. Following the completion of the transaction, the executive vice president now owns 2,004 shares of the company’s stock, valued at approximately $321,141. 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 three months. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

WING has been the subject of a number of recent research reports. BTIG Research boosted their target price on Wingstop from $145.00 to $170.00 in a research report on Thursday, October 27th. BMO Capital Markets boosted their price objective on shares of Wingstop from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, October 27th. StockNews.com started coverage on shares of Wingstop in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Stephens boosted their price target on shares of Wingstop from $148.00 to $173.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 26th. Finally, OTR Global raised Wingstop from a “mixed” rating to a “positive” rating in a research note on Wednesday, October 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Wingstop Price Performance

WING opened at $141.69 on Friday. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 100.49, a PEG ratio of 6.30 and a beta of 1.62. The business has a 50 day simple moving average of $150.89 and a two-hundred day simple moving average of $134.89. Wingstop Inc. has a one year low of $67.67 and a one year high of $170.87.

Wingstop (NASDAQ:WINGGet Rating) last announced its earnings results on Wednesday, October 26th. The restaurant operator reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. Wingstop had a negative return on equity of 11.46% and a net margin of 13.01%. The company had revenue of $92.67 million during the quarter, compared to the consensus estimate of $89.81 million. As a group, sell-side analysts expect that Wingstop Inc. will post 1.66 EPS for the current fiscal year.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 2nd. Investors of record on Friday, November 11th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, November 9th. Wingstop’s payout ratio is currently 53.90%.

Wingstop Company 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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