Zurcher Kantonalbank Zurich Cantonalbank Purchases 563 Shares of Wingstop Inc. (NASDAQ:WING)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Wingstop Inc. (NASDAQ:WING) by 9.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,548 shares of the restaurant operator’s stock after acquiring an additional 563 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Wingstop were worth $1,680,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Treasurer of the State of North Carolina increased its stake in shares of Wingstop by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 13,150 shares of the restaurant operator’s stock valued at $2,365,000 after purchasing an additional 60 shares during the last quarter. Legato Capital Management LLC grew its position in Wingstop by 5.6% in the fourth quarter. Legato Capital Management LLC now owns 1,605 shares of the restaurant operator’s stock valued at $412,000 after acquiring an additional 85 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in Wingstop during the fourth quarter worth about $28,000. Arizona State Retirement System raised its stake in Wingstop by 1.4% during the third quarter. Arizona State Retirement System now owns 8,532 shares of the restaurant operator’s stock worth $1,534,000 after acquiring an additional 114 shares in the last quarter. Finally, FSC Wealth Advisors LLC bought a new position in shares of Wingstop in the fourth quarter worth about $39,000.

Wingstop Price Performance

WING stock opened at $362.74 on Thursday. Wingstop Inc. has a 1 year low of $150.08 and a 1 year high of $379.00. The company’s 50-day moving average is $351.10 and its 200-day moving average is $278.19. The stock has a market capitalization of $10.65 billion, a PE ratio of 154.36, a price-to-earnings-growth ratio of 6.30 and a beta of 1.68.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $127.06 million during the quarter, compared to analyst estimates of $120.47 million. Wingstop had a negative return on equity of 17.66% and a net margin of 15.25%. Wingstop’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. On average, analysts anticipate that Wingstop Inc. will post 3.02 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend was Thursday, March 7th. Wingstop’s payout ratio is 37.45%.

Insider Activity

In related news, SVP Marisa Carona sold 2,586 shares of Wingstop stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $371.96, for a total value of $961,888.56. Following the sale, the senior vice president now owns 1,646 shares of the company’s stock, valued at approximately $612,246.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Marisa Carona sold 2,586 shares of Wingstop stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $371.96, for a total value of $961,888.56. Following the completion of the sale, the senior vice president now owns 1,646 shares of the company’s stock, valued at approximately $612,246.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael Skipworth sold 10,843 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the sale, the chief executive officer now directly owns 17,107 shares in the company, valued at $5,771,901.80. The disclosure for this sale can be found here. Insiders sold 14,901 shares of company stock valued at $5,120,605 in the last three months. Company insiders own 0.36% of the company’s stock.

Analyst Ratings Changes

WING has been the subject of a number of research analyst reports. Truist Financial reiterated a “hold” rating and set a $292.00 price objective on shares of Wingstop in a research report on Monday, April 1st. Jefferies Financial Group increased their price target on Wingstop from $310.00 to $335.00 and gave the company a “hold” rating in a research note on Tuesday, April 16th. Wedbush boosted their price objective on Wingstop from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. TD Cowen reiterated a “buy” rating and issued a $410.00 target price on shares of Wingstop in a research report on Wednesday, April 10th. Finally, Benchmark restated a “hold” rating on shares of Wingstop in a report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Wingstop currently has an average rating of “Hold” and an average target price of $290.83.

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.