Wingstop Inc. (NASDAQ:WING) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its holdings in shares of Wingstop Inc. (NASDAQ:WINGGet Rating) by 8.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,527 shares of the restaurant operator’s stock after selling 687 shares during the period. Truist Financial Corp’s holdings in Wingstop were worth $944,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. SG Americas Securities LLC boosted its holdings in Wingstop by 560.9% in the 2nd quarter. SG Americas Securities LLC now owns 17,956 shares of the restaurant operator’s stock worth $1,343,000 after buying an additional 15,239 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Wingstop in the 2nd quarter worth about $1,071,000. National Bank of Canada FI boosted its holdings in Wingstop by 16.4% in the 2nd quarter. National Bank of Canada FI now owns 8,854 shares of the restaurant operator’s stock worth $703,000 after buying an additional 1,246 shares during the last quarter. Congress Asset Management Co. MA boosted its holdings in Wingstop by 1.0% in the 2nd quarter. Congress Asset Management Co. MA now owns 9,890 shares of the restaurant operator’s stock worth $739,000 after buying an additional 100 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in Wingstop by 0.6% in the 2nd 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 last quarter.

Insider Buying and Selling at Wingstop

In other Wingstop news, CEO Michael Skipworth sold 3,827 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $158.98, for a total value of $608,416.46. Following the sale, the chief executive officer now owns 17,070 shares of the company’s stock, valued at $2,713,788.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Stacy Peterson sold 6,427 shares of the company’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $160.25, for a total transaction of $1,029,926.75. Following the sale, the executive vice president now owns 2,004 shares of the company’s stock, valued at $321,141. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Skipworth sold 3,827 shares of the company’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $158.98, for a total value of $608,416.46. Following 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 have sold a total of 11,754 shares of company stock valued at $1,877,998 over the last quarter. 0.64% of the stock is owned by company insiders.

Wingstop Stock Performance

WING stock opened at $141.69 on Friday. The firm has a market cap of $4.24 billion, a PE ratio of 100.49, a PEG ratio of 6.30 and a beta of 1.62. Wingstop Inc. has a one year low of $67.67 and a one year high of $170.87. The firm’s 50 day moving average price is $150.89 and its 200-day moving average price is $134.89.

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

Wingstop Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 2nd. Shareholders of record on Friday, November 11th were given 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 53.90%.

Analyst Ratings Changes

WING has been the topic of several research analyst reports. Cowen lifted their price objective on Wingstop from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, October 27th. StockNews.com assumed coverage on Wingstop in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. The Goldman Sachs Group boosted their target price on Wingstop from $141.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, October 27th. Robert W. Baird boosted their target price on Wingstop from $150.00 to $175.00 in a report on Thursday, October 27th. Finally, BTIG Research boosted their target price on Wingstop from $145.00 to $170.00 in a report on Thursday, October 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.00.

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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