Amalgamated Bank Trims Holdings in Wingstop Inc. (NASDAQ:WING)

Amalgamated Bank lessened its stake in shares of Wingstop Inc. (NASDAQ:WING) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,646 shares of the restaurant operator’s stock after selling 759 shares during the period. Amalgamated Bank owned 0.07% of Wingstop worth $5,554,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kovack Advisors Inc. grew its position in Wingstop by 1.7% in the fourth quarter. Kovack Advisors Inc. now owns 2,319 shares of the restaurant operator’s stock worth $595,000 after acquiring an additional 39 shares during the period. Treasurer of the State of North Carolina raised its position in Wingstop by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 13,150 shares of the restaurant operator’s stock valued at $2,365,000 after purchasing an additional 60 shares during the period. Legato Capital Management LLC grew its stake in shares of Wingstop by 5.6% in the fourth quarter. Legato Capital Management LLC now owns 1,605 shares of the restaurant operator’s stock valued at $412,000 after buying an additional 85 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Wingstop in the 4th quarter valued at $28,000. Finally, Arizona State Retirement System boosted its holdings in Wingstop by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 8,532 shares of the restaurant operator’s stock valued at $1,534,000 after acquiring an additional 114 shares during the period.

Wingstop Price Performance

NASDAQ:WING opened at $395.84 on Tuesday. The firm has a market cap of $11.63 billion, a price-to-earnings ratio of 140.87, a price-to-earnings-growth ratio of 5.32 and a beta of 1.67. Wingstop Inc. has a 1-year low of $150.08 and a 1-year high of $400.74. The firm’s fifty day moving average price is $361.42 and its 200 day moving average price is $290.98.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 EPS for the quarter, beating the consensus estimate of $0.76 by $0.22. The business had revenue of $145.70 million during the quarter, compared to analysts’ expectations of $136.34 million. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The company’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. As a group, analysts expect that Wingstop Inc. will post 3.4 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.22%. Wingstop’s dividend payout ratio is presently 31.32%.

Insider Activity at Wingstop

In other Wingstop news, Director Kilandigalu Madati sold 1,472 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $339.87, for a total value of $500,288.64. Following the completion of the transaction, the director now directly owns 5,450 shares of the company’s stock, valued at $1,852,291.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Kilandigalu Madati sold 1,472 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $339.87, for a total value of $500,288.64. Following the completion of the transaction, the director now owns 5,450 shares in the company, valued at $1,852,291.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael Skipworth sold 10,843 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the completion of the sale, the chief executive officer now owns 17,107 shares in the company, valued at $5,771,901.80. The disclosure for this sale can be found here. Insiders sold 14,901 shares of company stock worth $5,120,605 over the last 90 days. Company insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Bank of America raised their price objective on shares of Wingstop from $421.00 to $461.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Jefferies Financial Group increased their price target on Wingstop from $310.00 to $335.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. Sanford C. Bernstein initiated coverage on shares of Wingstop in a research note on Wednesday, February 14th. They set an “outperform” rating and a $340.00 target price on the stock. TD Cowen reiterated a “buy” rating and set a $410.00 price target on shares of Wingstop in a report on Wednesday, May 1st. Finally, BMO Capital Markets lifted their price objective on shares of Wingstop from $275.00 to $325.00 and gave the stock a “market perform” rating in a research report on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $330.39.

Wingstop Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.