State of Michigan Retirement System Purchases 200 Shares of Wingstop Inc. (NASDAQ:WING)

State of Michigan Retirement System lifted its position in Wingstop Inc. (NASDAQ:WING) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,272 shares of the restaurant operator’s stock after purchasing an additional 200 shares during the quarter. State of Michigan Retirement System’s holdings in Wingstop were worth $2,664,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in shares of Wingstop by 542.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,773 shares of the restaurant operator’s stock worth $2,764,000 after purchasing an additional 9,097 shares during the period. Comerica Bank bought a new position in Wingstop in the third quarter valued at $4,021,000. Capstone Investment Advisors LLC increased its stake in Wingstop by 235.2% in the fourth quarter. Capstone Investment Advisors LLC now owns 10,825 shares of the restaurant operator’s stock valued at $2,777,000 after acquiring an additional 7,596 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Wingstop by 14.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 279,938 shares of the restaurant operator’s stock valued at $71,827,000 after acquiring an additional 36,017 shares during the last quarter. Finally, Axiom Investors LLC DE bought a new position in Wingstop in the fourth quarter valued at $11,006,000.

Analyst Ratings Changes

A number of research firms recently commented on WING. Stephens reissued an “overweight” rating and issued a $425.00 target price on shares of Wingstop in a research note on Wednesday, May 1st. Benchmark reissued a “hold” rating on shares of Wingstop in a research note on Thursday, May 2nd. Wedbush raised their price objective on Wingstop from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Citigroup raised their price objective on Wingstop from $375.00 to $398.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, Morgan Stanley raised their price objective on Wingstop from $280.00 to $315.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $352.39.

Wingstop Price Performance

Shares of WING opened at $418.49 on Thursday. Wingstop Inc. has a one year low of $150.08 and a one year high of $431.03. The company has a 50-day simple moving average of $396.07 and a two-hundred day simple moving average of $342.89. The firm has a market capitalization of $12.26 billion, a PE ratio of 148.93, a price-to-earnings-growth ratio of 5.38 and a beta of 1.69.

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

Wingstop Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, May 16th. This represents a $0.88 annualized dividend and a dividend yield of 0.21%. Wingstop’s payout ratio is 31.32%.

Insider Activity

In other news, SVP Albert G. Mcgrath sold 4,230 shares of Wingstop stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $396.40, for a total transaction of $1,676,772.00. Following the completion of the transaction, the senior vice president now directly owns 8,170 shares in the company, valued at $3,238,588. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Ania Smith sold 566 shares of Wingstop stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $380.91, for a total transaction of $215,595.06. Following the completion of the transaction, the director now directly owns 1,164 shares in the company, valued at $443,379.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Albert G. Mcgrath sold 4,230 shares of Wingstop stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $396.40, for a total transaction of $1,676,772.00. Following the transaction, the senior vice president now owns 8,170 shares of the company’s stock, valued at $3,238,588. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,191 shares of company stock worth $2,443,547. Insiders own 0.36% of the company’s stock.

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.