Charles Schwab Investment Management Inc. Sells 79,612 Shares of Wingstop Inc. (NASDAQ:WING)

Charles Schwab Investment Management Inc. decreased its position in Wingstop Inc. (NASDAQ:WING) by 28.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 202,555 shares of the restaurant operator’s stock after selling 79,612 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Wingstop were worth $84,279,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Hollencrest Capital Management acquired a new position in shares of Wingstop in the second quarter valued at $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Wingstop in the 2nd quarter valued at $34,000. Massmutual Trust Co. FSB ADV increased its holdings in Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after buying an additional 35 shares during the period. V Square Quantitative Management LLC raised its stake in shares of Wingstop by 60.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock valued at $44,000 after buying an additional 40 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Wingstop by 384.6% during the 3rd quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock worth $53,000 after acquiring an additional 100 shares during the period.

Analyst Ratings Changes

WING has been the topic of a number of analyst reports. Benchmark raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 target price on the stock in a research note on Thursday, October 31st. BMO Capital Markets increased their target price on Wingstop from $345.00 to $360.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. The Goldman Sachs Group upgraded Wingstop from a “neutral” rating to a “buy” rating and cut their target price for the stock from $458.00 to $377.00 in a research report on Friday, November 8th. Stephens lowered their price target on Wingstop from $490.00 to $468.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Citigroup lifted their price objective on Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $368.74.

Wingstop Stock Performance

Shares of WING stock opened at $331.27 on Thursday. The firm’s 50 day moving average price is $368.31 and its two-hundred day moving average price is $381.61. Wingstop Inc. has a 52-week low of $232.88 and a 52-week high of $433.86. The stock has a market cap of $9.68 billion, a PE ratio of 96.58, a PEG ratio of 3.14 and a beta of 1.76.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The company had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. During the same period last year, the firm earned $0.69 earnings per share. The firm’s revenue for the quarter was up 38.8% on a year-over-year basis. As a group, sell-side analysts predict that Wingstop Inc. will post 3.68 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $0.27 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.33%. Wingstop’s dividend payout ratio is 31.49%.

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.