The Manufacturers Life Insurance Company Lowers Position in Wingstop Inc. (NASDAQ:WING)

The Manufacturers Life Insurance Company trimmed its stake in shares of Wingstop Inc. (NASDAQ:WING) by 7.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,623 shares of the restaurant operator’s stock after selling 2,063 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Wingstop worth $10,245,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Cetera Advisors LLC purchased a new stake in shares of Wingstop during the 1st quarter worth approximately $307,000. GAMMA Investing LLC raised its stake in Wingstop by 136.5% during the second quarter. GAMMA Investing LLC now owns 272 shares of the restaurant operator’s stock valued at $115,000 after purchasing an additional 157 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Wingstop by 60.3% during 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 last quarter. Fulton Bank N.A. purchased a new position in shares of Wingstop in the 2nd quarter worth $220,000. Finally, Park Avenue Securities LLC increased its holdings in shares of Wingstop by 11.8% in the 2nd quarter. Park Avenue Securities LLC now owns 2,978 shares of the restaurant operator’s stock worth $1,259,000 after buying an additional 315 shares during the last quarter.

Wall Street Analysts Forecast Growth

WING has been the subject of a number of analyst reports. Citigroup increased their price target on shares of Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a report on Friday, October 4th. The Goldman Sachs Group raised Wingstop from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $458.00 to $377.00 in a research note on Friday, November 8th. BTIG Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 target price on the stock in a research report on Thursday, October 31st. Barclays lowered their price target on Wingstop from $470.00 to $380.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Stephens cut their price objective on shares of Wingstop from $490.00 to $468.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Wingstop currently has an average rating of “Moderate Buy” and a consensus price target of $368.74.

Wingstop Trading Up 0.8 %

WING opened at $327.55 on Wednesday. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 95.51, a PEG ratio of 3.03 and a beta of 1.78. Wingstop Inc. has a 12-month low of $240.60 and a 12-month high of $433.86. The business’s fifty day simple moving average is $360.99 and its 200-day simple moving average is $380.02.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.09). Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The business had revenue of $162.50 million for the quarter, compared to the consensus estimate of $160.24 million. During the same quarter in the previous year, the company earned $0.69 earnings per share. The firm’s revenue was up 38.8% on a year-over-year basis. On average, equities research analysts predict that Wingstop Inc. will post 3.68 EPS for the current year.

Wingstop Dividend Announcement

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

About Wingstop

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.