Swiss National Bank Sells 3,300 Shares of Wingstop Inc. $WING

Swiss National Bank cut its stake in shares of Wingstop Inc. (NASDAQ:WING) by 5.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,300 shares of the restaurant operator’s stock after selling 3,300 shares during the quarter. Swiss National Bank owned approximately 0.19% of Wingstop worth $17,948,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WING. Freedom Investment Management Inc. grew its stake in Wingstop by 2.2% in the second quarter. Freedom Investment Management Inc. now owns 1,371 shares of the restaurant operator’s stock worth $462,000 after purchasing an additional 30 shares in the last quarter. Farther Finance Advisors LLC raised its position in Wingstop by 16.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 223 shares of the restaurant operator’s stock valued at $75,000 after purchasing an additional 32 shares in the last quarter. Wedmont Private Capital lifted its holdings in shares of Wingstop by 2.9% in the 2nd quarter. Wedmont Private Capital now owns 1,165 shares of the restaurant operator’s stock worth $389,000 after buying an additional 33 shares during the period. Parallel Advisors LLC grew its position in shares of Wingstop by 22.3% during the 2nd quarter. Parallel Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $61,000 after buying an additional 33 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of Wingstop by 0.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,569 shares of the restaurant operator’s stock worth $2,212,000 after buying an additional 34 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BTIG Research lowered their price objective on shares of Wingstop from $430.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. TD Cowen reduced their price target on shares of Wingstop from $320.00 to $280.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Sanford C. Bernstein dropped their price objective on shares of Wingstop from $400.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Truist Financial cut their price objective on shares of Wingstop from $400.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, Stifel Nicolaus reduced their price objective on shares of Wingstop from $375.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $335.96.

Wingstop Price Performance

Shares of WING stock opened at $259.08 on Thursday. The stock’s fifty day moving average price is $246.56 and its 200 day moving average price is $300.16. Wingstop Inc. has a 1-year low of $204.00 and a 1-year high of $388.14. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 42.20, a price-to-earnings-growth ratio of 3.63 and a beta of 1.73.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Tuesday, November 4th. The restaurant operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.18. Wingstop had a negative return on equity of 16.17% and a net margin of 25.51%.The business had revenue of $175.74 million during the quarter, compared to the consensus estimate of $189.10 million. During the same quarter last year, the company earned $0.88 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts anticipate that Wingstop Inc. will post 4.18 earnings per share for the current year.

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be paid a $0.30 dividend. The ex-dividend date is Friday, November 21st. This represents a $1.20 dividend on an annualized basis and a yield of 0.5%. Wingstop’s dividend payout ratio (DPR) is 19.54%.

Insiders Place Their Bets

In other Wingstop news, Director Kilandigalu Madati sold 269 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $259.97, for a total transaction of $69,931.93. Following the transaction, the director owned 5,283 shares in the company, valued at approximately $1,373,421.51. This represents a 4.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Wingstop 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.