NorthCrest Asset Manangement LLC Has $1.41 Million Stock Holdings in Wingstop Inc. $WING

NorthCrest Asset Manangement LLC lessened its position in Wingstop Inc. (NASDAQ:WING) by 24.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,300 shares of the restaurant operator’s stock after selling 1,377 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Wingstop were worth $1,407,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Wingstop by 93.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 62 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Wingstop by 106.9% in the 1st quarter. Signaturefd LLC now owns 149 shares of the restaurant operator’s stock valued at $34,000 after purchasing an additional 77 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Wingstop by 121.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after purchasing an additional 119 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Wingstop by 280.3% in the 1st quarter. UMB Bank n.a. now owns 270 shares of the restaurant operator’s stock valued at $61,000 after purchasing an additional 199 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Wingstop by 22.3% in the 2nd quarter. Parallel Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $61,000 after purchasing an additional 33 shares in the last quarter.

Insiders Place Their Bets

In other news, CEO Michael Skipworth sold 4,500 shares of the company’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 completion of the sale, the chief executive officer directly owned 42,777 shares of the company’s stock, valued at $15,842,034.18. This represents a 9.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Alex Kaleida sold 5,400 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were 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 owned 8,362 shares in the company, valued at $3,144,864.58. This represents a 39.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,838 shares of company stock valued at $8,118,535. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Wingstop from $350.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 23rd. Truist Financial raised Wingstop from a “hold” rating to a “buy” rating and lifted their price target for the company from $274.00 to $400.00 in a report on Tuesday, May 27th. The Goldman Sachs Group lifted their price target on Wingstop from $310.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Wells Fargo & Company lifted their price target on Wingstop from $375.00 to $415.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Finally, William Blair initiated coverage on Wingstop in a report on Wednesday, July 9th. They issued an “outperform” rating for the company. Four analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $380.52.

Wingstop Trading Down 0.9%

Shares of NASDAQ:WING opened at $253.55 on Friday. The stock has a market capitalization of $7.08 billion, a P/E ratio of 42.26, a P/E/G ratio of 3.21 and a beta of 1.87. Wingstop Inc. has a 1-year low of $204.00 and a 1-year high of $433.86. The business has a 50-day moving average price of $316.33 and a two-hundred day moving average price of $294.09.

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, topping the consensus estimate of $0.88 by $0.12. The firm had revenue of $174.33 million during the quarter, compared to analysts’ expectations of $172.60 million. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 EPS. As a group, equities analysts predict that Wingstop Inc. will post 4.18 EPS for the current year.

Wingstop Increases Dividend

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

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.