OFI Invest Asset Management Sells 11,656 Shares of Wingstop Inc. $WING

OFI Invest Asset Management reduced its position in Wingstop Inc. (NASDAQ:WING) by 12.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 80,956 shares of the restaurant operator’s stock after selling 11,656 shares during the period. OFI Invest Asset Management’s holdings in Wingstop were worth $27,261,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. UMB Bank n.a. boosted its stake in Wingstop by 280.3% in the 1st quarter. UMB Bank n.a. now owns 270 shares of the restaurant operator’s stock worth $61,000 after purchasing an additional 199 shares in the last quarter. GAMMA Investing LLC boosted its stake in Wingstop by 104.9% in the 1st quarter. GAMMA Investing LLC now owns 457 shares of the restaurant operator’s stock worth $103,000 after purchasing an additional 234 shares in the last quarter. Fifth Third Bancorp boosted its stake in Wingstop by 119.0% in the 1st quarter. Fifth Third Bancorp now owns 1,964 shares of the restaurant operator’s stock worth $443,000 after purchasing an additional 1,067 shares in the last quarter. Tritonpoint Wealth LLC boosted its stake in Wingstop by 21.0% in the 1st quarter. Tritonpoint Wealth LLC now owns 4,910 shares of the restaurant operator’s stock worth $1,108,000 after purchasing an additional 851 shares in the last quarter. Finally, Signature Wealth Management Group acquired a new stake in Wingstop in the 1st quarter worth approximately $1,341,000.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wolfe Research assumed coverage on shares of Wingstop in a research note on Wednesday, July 9th. They issued an “outperform” rating and a $280.00 target price for the company. Sanford C. Bernstein restated an “overweight” rating and set a $440.00 price objective on shares of Wingstop in a research note on Thursday, July 31st. UBS Group lifted their price objective on shares of Wingstop from $335.00 to $385.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Wall Street Zen cut shares of Wingstop from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Finally, Bank of America decreased their price objective on shares of Wingstop from $430.00 to $420.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $374.54.

Wingstop Price Performance

NASDAQ:WING opened at $241.25 on Friday. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 40.21, a price-to-earnings-growth ratio of 3.04 and a beta of 1.78. The company has a 50 day moving average price of $294.32 and a 200-day moving average price of $298.14. Wingstop Inc. has a 1-year low of $204.00 and a 1-year high of $407.09.

Wingstop (NASDAQ:WING) last posted its earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.12. The firm had revenue of $174.33 million during the quarter, compared to analyst estimates of $172.60 million. Wingstop had a net margin of 25.61% and a negative return on equity of 17.07%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS. On average, sell-side analysts anticipate that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were issued a dividend of $0.30 per share. This is a positive change from Wingstop’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.5%. Wingstop’s payout ratio is presently 20.00%.

Insider Activity

In related news, CEO Michael Skipworth sold 4,500 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $370.34, for a total value of $1,666,530.00. Following the completion of the sale, the chief executive officer owned 42,777 shares of the company’s stock, valued at approximately $15,842,034.18. The trade was a 9.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alex Kaleida sold 5,400 shares of the business’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $376.09, for a total transaction of $2,030,886.00. Following the completion of the sale, the chief financial officer directly owned 8,362 shares of the company’s stock, valued at approximately $3,144,864.58. The trade was a 39.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,838 shares of company stock valued at $8,118,535 in the last three months. 0.72% of the stock is currently owned by corporate insiders.

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.