Sei Investments Co. Cuts Position in Wingstop Inc. (NASDAQ:WING)

Sei Investments Co. trimmed its position in shares of Wingstop Inc. (NASDAQ:WING) by 9.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,270 shares of the restaurant operator’s stock after selling 9,689 shares during the period. Sei Investments Co.’s holdings in Wingstop were worth $37,732,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Hollencrest Capital Management acquired a new position in Wingstop during the 2nd quarter worth about $27,000. Rise Advisors LLC acquired a new stake in shares of Wingstop during the first quarter worth about $29,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Wingstop in the second quarter valued at approximately $34,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Wingstop by 60.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after purchasing an additional 35 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Wingstop by 53.3% in the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 40 shares in the last quarter.

Wingstop Stock Up 1.9 %

Shares of NASDAQ WING opened at $427.92 on Tuesday. The business has a 50-day moving average price of $382.70 and a 200 day moving average price of $381.92. The stock has a market cap of $12.54 billion, a PE ratio of 152.28, a price-to-earnings-growth ratio of 4.09 and a beta of 1.71. Wingstop Inc. has a 52-week low of $166.65 and a 52-week high of $431.03.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. The business had revenue of $155.70 million during 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%. The company’s revenue was up 45.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 earnings per share. Sell-side analysts anticipate that Wingstop Inc. will post 3.77 earnings per share for the current year.

Wingstop Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.25%. This is a boost from Wingstop’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, August 16th. Wingstop’s dividend payout ratio is presently 38.43%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WING shares. Truist Financial raised their price target on shares of Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Wedbush boosted their target price on Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Raymond James raised Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research report on Thursday, August 1st. Stifel Nicolaus boosted their price objective on Wingstop from $420.00 to $460.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Finally, BMO Capital Markets raised their target price on shares of Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. 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.com, the stock has an average rating of “Hold” and a consensus price target of $379.53.

Insider Transactions at Wingstop

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $372.71, for a total transaction 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 approximately $36,152.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.