Lombard Odier Asset Management USA Corp Sells 466 Shares of Wingstop Inc. (NASDAQ:WING)

Lombard Odier Asset Management USA Corp trimmed its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 28.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,162 shares of the restaurant operator’s stock after selling 466 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Wingstop were worth $491,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Wingstop during the fourth quarter worth about $80,423,000. 1832 Asset Management L.P. bought a new position in shares of Wingstop in the 4th quarter worth $78,616,000. Renaissance Technologies LLC raised its position in shares of Wingstop by 36.6% during 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. Vanguard Group Inc. lifted 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 acquiring an additional 104,780 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Wingstop by 4.7% in 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 acquiring an additional 101,917 shares in the last quarter.

Wingstop Trading Down 0.4 %

Shares of NASDAQ WING opened at $419.90 on Monday. Wingstop Inc. has a 12 month low of $166.65 and a 12 month high of $431.03. The firm has a fifty day simple moving average of $381.87 and a two-hundred day simple moving average of $381.51. The firm has a market capitalization of $12.30 billion, a PE ratio of 149.43, a price-to-earnings-growth ratio of 4.09 and a beta of 1.71.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The business had revenue of $155.70 million during the quarter, compared to analyst estimates of $146.04 million. During the same period last year, the business posted $0.57 earnings per share. Wingstop’s quarterly revenue was up 45.3% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were issued a $0.27 dividend. This is an increase from Wingstop’s previous quarterly dividend of $0.22. 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%. Wingstop’s dividend payout ratio is 38.43%.

Wall Street Analysts Forecast Growth

WING has been the topic of a number of research reports. BMO Capital Markets raised their price target on Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. TD Cowen reissued a “buy” rating and set a $450.00 price objective on shares of Wingstop in a report on Wednesday, July 31st. Raymond James raised Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research note on Thursday, August 1st. Piper Sandler lifted their price target on shares of Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley upped their price objective on shares of Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 16th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $379.53.

Insider Buying and Selling at Wingstop

In other news, SVP Donnie Upshaw sold 3,199 shares of the company’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 sale, the senior vice president now directly owns 97 shares of the company’s stock, valued at approximately $36,152.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.36% of the company’s stock.

Wingstop Company 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.