CNB Bank Acquires 401 Shares of Wingstop Inc. $WING

CNB Bank increased its position in Wingstop Inc. (NASDAQ:WING) by 63.3% during the second quarter, Holdings Channel.com reports. The firm owned 1,034 shares of the restaurant operator’s stock after buying an additional 401 shares during the quarter. CNB Bank’s holdings in Wingstop were worth $348,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. GAMMA Investing LLC lifted its stake in Wingstop by 104.9% during the 1st quarter. GAMMA Investing LLC now owns 457 shares of the restaurant operator’s stock valued at $103,000 after acquiring an additional 234 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Wingstop by 2.5% in the 1st quarter. State of Alaska Department of Revenue now owns 3,419 shares of the restaurant operator’s stock worth $771,000 after acquiring an additional 85 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Wingstop by 25.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,346 shares of the restaurant operator’s stock worth $1,206,000 after buying an additional 1,096 shares in the last quarter. Diversified Trust Co lifted its stake in Wingstop by 198.1% in the 1st quarter. Diversified Trust Co now owns 4,474 shares of the restaurant operator’s stock worth $1,009,000 after purchasing an additional 2,973 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Wingstop by 12.6% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,570 shares of the restaurant operator’s stock worth $805,000 after purchasing an additional 400 shares in the last quarter.

Wingstop Stock Performance

Shares of WING stock opened at $258.99 on Friday. Wingstop Inc. has a fifty-two week low of $204.00 and a fifty-two week high of $388.14. The stock has a 50 day moving average price of $278.75 and a two-hundred day moving average price of $299.51. The company has a market capitalization of $7.23 billion, a P/E ratio of 43.17, a PEG ratio of 3.30 and a beta of 1.78.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data 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. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.The firm had revenue of $174.33 million during the quarter, compared to the consensus estimate of $172.60 million. During the same quarter in the previous year, the company posted $0.93 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. As a group, equities analysts predict that Wingstop Inc. will post 4.18 earnings per share for the current year.

Wingstop Increases Dividend

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

Insider Buying and Selling at Wingstop

In other Wingstop news, CEO Michael Skipworth sold 4,500 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $370.34, for a total value of $1,666,530.00. Following the transaction, the chief executive officer directly owned 42,777 shares of the company’s stock, valued at approximately $15,842,034.18. This trade represents a 9.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alex Kaleida sold 5,400 shares of Wingstop stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $376.09, for a total value of $2,030,886.00. Following the transaction, the chief financial officer directly owned 8,362 shares in the company, valued at approximately $3,144,864.58. The trade was a 39.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,838 shares of company stock valued at $8,118,535. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WING. Zacks Research lowered Wingstop from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Wall Street Zen lowered Wingstop from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. The Goldman Sachs Group cut their price objective on Wingstop from $430.00 to $370.00 and set a “buy” rating for the company in a report on Tuesday, September 30th. Stifel Nicolaus cut their price objective on Wingstop from $405.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, September 9th. Finally, Westpark Capital upgraded Wingstop to a “strong-buy” rating in a research report on Wednesday, July 9th. Four equities 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. According to data from MarketBeat.com, Wingstop currently has a consensus rating of “Moderate Buy” and an average price target of $362.50.

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.