Mutual of America Capital Management LLC Reduces Position in Wingstop Inc. (NASDAQ:WING)

Mutual of America Capital Management LLC reduced its holdings in Wingstop Inc. (NASDAQ:WING) by 4.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,817 shares of the restaurant operator’s stock after selling 710 shares during the period. Mutual of America Capital Management LLC’s holdings in Wingstop were worth $7,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of WING. Vanguard Group Inc. boosted its holdings in shares of Wingstop by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock worth $1,071,473,000 after purchasing an additional 104,780 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Wingstop by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator’s stock worth $833,026,000 after buying an additional 101,917 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Wingstop by 36.6% in the 2nd quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock valued at $254,860,000 after buying an additional 161,600 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Wingstop by 2.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 600,905 shares of the restaurant operator’s stock worth $253,979,000 after acquiring an additional 16,526 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in shares of Wingstop by 11.1% during the 1st quarter. 1832 Asset Management L.P. now owns 340,400 shares of the restaurant operator’s stock worth $124,723,000 after acquiring an additional 34,000 shares during the period.

Wingstop Trading Up 2.1 %

Wingstop stock opened at $421.53 on Friday. The firm has a market capitalization of $12.35 billion, a P/E ratio of 150.01, a P/E/G ratio of 4.09 and a beta of 1.71. Wingstop Inc. has a twelve month low of $166.65 and a twelve month high of $431.03. The stock’s fifty day simple moving average is $380.27 and its 200-day simple moving average is $380.66.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.11. The company had revenue of $155.70 million for the quarter, compared to the consensus estimate of $146.04 million. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. Wingstop’s revenue was up 45.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 EPS. Sell-side analysts predict that Wingstop Inc. will post 3.77 earnings per share for the current year.

Wingstop Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.08 dividend on an annualized basis and a yield of 0.26%. This is an increase from Wingstop’s previous quarterly dividend of $0.22. Wingstop’s payout ratio is currently 38.43%.

Insiders Place Their Bets

In other news, SVP Donnie Upshaw sold 3,199 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now directly owns 97 shares in the company, valued at approximately $36,152.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

WING has been the subject of several recent analyst reports. Wedbush raised their price objective on shares of Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday. Stephens reaffirmed an “overweight” rating and set a $475.00 price target on shares of Wingstop in a research report on Wednesday, August 14th. Morgan Stanley increased their price objective on Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 16th. Barclays raised their target price on Wingstop from $418.00 to $425.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group upped their price target on Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Wingstop currently has an average rating of “Hold” and a consensus target price of $379.53.

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.