IFP Advisors Inc Sells 360 Shares of Wingstop Inc. $WING

IFP Advisors Inc cut its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 25.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,035 shares of the restaurant operator’s stock after selling 360 shares during the quarter. IFP Advisors Inc’s holdings in Wingstop were worth $349,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. purchased a new position in Wingstop in the first quarter worth about $212,672,000. Price T Rowe Associates Inc. MD boosted its position in shares of Wingstop by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,646,934 shares of the restaurant operator’s stock valued at $371,517,000 after buying an additional 496,717 shares during the period. Champlain Investment Partners LLC boosted its position in shares of Wingstop by 130.7% during the first quarter. Champlain Investment Partners LLC now owns 631,989 shares of the restaurant operator’s stock valued at $142,564,000 after buying an additional 358,044 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Wingstop by 64.4% in the first quarter. AQR Capital Management LLC now owns 550,879 shares of the restaurant operator’s stock valued at $123,295,000 after purchasing an additional 215,816 shares during the period. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Wingstop by 66.3% in the first quarter. Stephens Investment Management Group LLC now owns 446,601 shares of the restaurant operator’s stock valued at $100,744,000 after purchasing an additional 178,041 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WING. Barclays boosted their price objective on shares of Wingstop from $410.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Raymond James Financial raised Wingstop from an “outperform” rating to a “strong-buy” rating and set a $420.00 target price on the stock in a research report on Friday, August 15th. Piper Sandler assumed coverage on Wingstop in a research report on Wednesday, July 9th. They set an “overweight” rating on the stock. Guggenheim increased their target price on shares of Wingstop from $325.00 to $410.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Finally, Bank of America lowered their target price on shares of Wingstop from $430.00 to $420.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $371.35.

Insider Transactions at Wingstop

In other news, CEO Michael Skipworth sold 4,500 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $370.34, for a total transaction of $1,666,530.00. Following the completion of the sale, the chief executive officer owned 42,777 shares in the company, valued at approximately $15,842,034.18. This represents a 9.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Marisa Carona sold 11,938 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $370.34, for a total transaction of $4,421,118.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,838 shares of company stock worth $8,118,535. Company insiders own 0.72% of the company’s stock.

Wingstop Price Performance

Shares of WING opened at $250.30 on Thursday. Wingstop Inc. has a 1-year low of $204.00 and a 1-year high of $395.42. The stock has a market cap of $6.99 billion, a PE ratio of 41.72, a price-to-earnings-growth ratio of 3.21 and a beta of 1.78. The firm has a fifty day moving average price of $289.06 and a 200 day moving average price of $298.20.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.12. Wingstop had a net margin of 25.61% and a negative return on equity of 17.07%. The business had revenue of $174.33 million during the quarter, compared to the consensus estimate of $172.60 million. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts expect that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Increases Dividend

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

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.