Ensign Peak Advisors Inc Cuts Holdings in Wingstop Inc. (NASDAQ:WING)

Ensign Peak Advisors Inc lowered its stake in shares of Wingstop Inc. (NASDAQ:WING) by 11.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,365 shares of the restaurant operator’s stock after selling 2,990 shares during the period. Ensign Peak Advisors Inc’s holdings in Wingstop were worth $9,875,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CIBC Asset Management Inc boosted its holdings in shares of Wingstop by 3.7% in the 2nd quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock valued at $347,000 after buying an additional 29 shares in the last quarter. Congress Asset Management Co. MA grew its position in Wingstop by 0.3% during the 4th quarter. Congress Asset Management Co. MA now owns 11,380 shares of the restaurant operator’s stock worth $2,920,000 after purchasing an additional 34 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Wingstop by 60.3% during the 2nd 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 in the last quarter. GAMMA Investing LLC raised 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 worth $42,000 after buying an additional 40 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of Wingstop by 2.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 2,294 shares of the restaurant operator’s stock worth $969,000 after buying an additional 47 shares during the period.

Analyst Ratings Changes

Several research firms recently issued reports on WING. Barclays upped their target price on Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Stephens restated an “overweight” rating and issued a $475.00 price objective on shares of Wingstop in a research note on Wednesday, August 14th. Morgan Stanley upped their target price on Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 16th. Truist Financial raised their price target on shares of Wingstop from $407.00 to $423.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Raymond James raised shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a report on Thursday, August 1st. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $379.53.

Insider Activity at Wingstop

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of Wingstop stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the sale, the senior vice president now owns 97 shares of the company’s stock, valued at approximately $36,152.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.36% of the stock is owned by corporate insiders.

Wingstop Stock Performance

NASDAQ:WING opened at $426.86 on Wednesday. The stock has a market capitalization of $12.51 billion, a PE ratio of 151.91, a P/E/G ratio of 4.09 and a beta of 1.71. Wingstop Inc. has a fifty-two week low of $166.65 and a fifty-two week high of $433.86. The company has a fifty day moving average of $383.50 and a two-hundred day moving average of $382.43.

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, beating analysts’ consensus estimates of $0.82 by $0.11. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The firm had revenue of $155.70 million for the quarter, compared to analyst estimates of $146.04 million. During the same period last year, the company posted $0.57 EPS. Wingstop’s quarterly revenue was up 45.3% compared to the same quarter last year. Research analysts forecast 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 given a dividend of $0.27 per share. This represents a $1.08 annualized dividend 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 payout ratio is presently 38.43%.

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.