State of Alaska Department of Revenue Acquires 230 Shares of Wingstop Inc. (NASDAQ:WING)

State of Alaska Department of Revenue lifted its holdings in Wingstop Inc. (NASDAQ:WING) by 7.2% in the third quarter, HoldingsChannel.com reports. The fund owned 3,419 shares of the restaurant operator’s stock after buying an additional 230 shares during the quarter. State of Alaska Department of Revenue’s holdings in Wingstop were worth $1,422,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WING. Fulton Bank N.A. boosted its stake in Wingstop by 5.0% in the 3rd quarter. Fulton Bank N.A. now owns 547 shares of the restaurant operator’s stock worth $228,000 after purchasing an additional 26 shares during the period. CIBC Asset Management Inc boosted its position in shares of Wingstop by 3.7% during the second quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock worth $347,000 after acquiring an additional 29 shares during the last quarter. Dark Forest Capital Management LP grew its stake in Wingstop by 4.3% during the second quarter. Dark Forest Capital Management LP now owns 752 shares of the restaurant operator’s stock valued at $318,000 after acquiring an additional 31 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after acquiring an additional 35 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in Wingstop by 60.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after purchasing an additional 40 shares in the last quarter.

Wingstop Price Performance

Shares of NASDAQ:WING opened at $296.94 on Monday. The firm has a market capitalization of $8.67 billion, a PE ratio of 86.57, a price-to-earnings-growth ratio of 2.74 and a beta of 1.76. The business has a 50 day simple moving average of $388.10 and a two-hundred day simple moving average of $387.26. Wingstop Inc. has a 1 year low of $196.54 and a 1 year high of $433.86.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The business had revenue of $162.50 million for the quarter, compared to analysts’ expectations of $160.24 million. During the same quarter in the previous year, the firm earned $0.69 EPS. Wingstop’s revenue was up 38.8% compared to the same quarter last year. Equities research analysts expect that Wingstop Inc. will post 3.79 EPS for the current fiscal year.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.36%. The ex-dividend date is Friday, November 15th. Wingstop’s dividend payout ratio is presently 31.49%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WING. Raymond James raised Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Thursday, August 1st. The Goldman Sachs Group lifted their price objective on Wingstop from $407.00 to $458.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Wedbush increased their target price on Wingstop from $425.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Northcoast Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price target on the stock in a research report on Friday. Finally, TD Cowen lowered their price objective on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Wingstop currently has an average rating of “Moderate Buy” and a consensus target price of $379.58.

Insider Activity at Wingstop

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $372.71, for a total value of $1,192,299.29. Following the completion of the sale, the senior vice president now directly owns 97 shares of the company’s stock, valued at $36,152.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.36% of the stock is currently owned by company insiders.

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.