Wingstop Inc. (NASDAQ:WING) Stock Position Lessened by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System decreased its holdings in Wingstop Inc. (NASDAQ:WING – Get Rating) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,373 shares of the restaurant operator’s stock after selling 870 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Wingstop were worth $1,290,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. PFS Investments Inc. bought a new position in Wingstop during the third quarter valued at about $1,770,000. TD Asset Management Inc. boosted its stake in Wingstop by 0.5% during the third quarter. TD Asset Management Inc. now owns 264,458 shares of the restaurant operator’s stock valued at $33,293,000 after buying an additional 1,399 shares in the last quarter. Profund Advisors LLC bought a new position in Wingstop during the third quarter valued at about $213,000. National Bank of Canada FI boosted its stake in Wingstop by 39.8% during the fourth quarter. National Bank of Canada FI now owns 12,378 shares of the restaurant operator’s stock valued at $1,703,000 after buying an additional 3,524 shares in the last quarter. Finally, Independent Advisor Alliance bought a new position in Wingstop during the third quarter valued at about $226,000.

Wingstop Price Performance

WING opened at $206.29 on Tuesday. Wingstop Inc. has a fifty-two week low of $67.67 and a fifty-two week high of $223.77. The business has a 50-day moving average of $187.64 and a 200-day moving average of $167.50. The company has a market capitalization of $6.18 billion, a PE ratio of 103.15, a price-to-earnings-growth ratio of 4.98 and a beta of 1.60.

Wingstop (NASDAQ:WING – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The restaurant operator reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.13. Wingstop had a negative return on equity of 15.81% and a net margin of 15.37%. The company had revenue of $108.70 million during the quarter, compared to the consensus estimate of $99.48 million. During the same period last year, the business earned $0.34 EPS. The business’s quarterly revenue was up 42.7% on a year-over-year basis. On average, equities research analysts expect that Wingstop Inc. will post 2.07 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 19th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Thursday, May 18th. Wingstop’s dividend payout ratio (DPR) is presently 38.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Morgan Stanley raised their target price on Wingstop from $163.00 to $167.00 and gave the company an “equal weight” rating in a research note on Monday, April 17th. Robert W. Baird upped their target price on Wingstop from $195.00 to $225.00 in a report on Monday, May 1st. Jefferies Financial Group downgraded Wingstop from a “hold” rating to an “underperform” rating and set a $160.00 target price for the company. in a report on Monday, March 27th. StockNews.com initiated coverage on Wingstop in a report on Thursday, March 16th. They set a “hold” rating for the company. Finally, BTIG Research downgraded Wingstop from a “buy” rating to a “neutral” rating in a report on Thursday, February 23rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $188.17.

Insider Transactions at Wingstop

In other news, Director Wesley S. Mcdonald sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $206.65, for a total transaction of $309,975.00. Following the completion of the sale, the director now directly owns 5,310 shares of the company’s stock, valued at approximately $1,097,311.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Wesley S. Mcdonald sold 1,500 shares of the stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $206.65, for a total transaction of $309,975.00. Following the transaction, the director now owns 5,310 shares of the company’s stock, valued at approximately $1,097,311.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Skipworth sold 4,910 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $208.21, for a total value of $1,022,311.10. Following the transaction, the chief executive officer now directly owns 19,242 shares in the company, valued at approximately $4,006,376.82. The disclosure for this sale can be found here. Insiders sold 8,360 shares of company stock valued at $1,669,273 in the last three months. Corporate insiders own 0.36% of the company’s stock.

Wingstop Company Profile

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Wingstop, Inc is a franchisor and operator of restaurants, which engages in the provision of cooked-to-order, hand-sauced, and tossed chicken wings. The company was founded in 1994 and is headquartered in Addison, TX.