Keybank National Association OH Lowers Position in Wingstop Inc. (NASDAQ:WING)

Posted by Defense World Staff on Apr 21st, 2023

Keybank National Association OH trimmed its stake in Wingstop Inc. (NASDAQ:WING – Get Rating) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,687 shares of the restaurant operator’s stock after selling 301 shares during the quarter. Keybank National Association OH’s holdings in Wingstop were worth $370,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. PFS Investments Inc. purchased a new stake in Wingstop in the third quarter valued at approximately $1,770,000. TD Asset Management Inc. grew its holdings in Wingstop by 0.5% in the third quarter. TD Asset Management Inc. now owns 264,458 shares of the restaurant operator’s stock valued at $33,293,000 after purchasing an additional 1,399 shares during the period. Profund Advisors LLC purchased a new stake in Wingstop in the third quarter valued at approximately $213,000. National Bank of Canada FI lifted its position in Wingstop by 39.8% during the fourth quarter. National Bank of Canada FI now owns 12,378 shares of the restaurant operator’s stock valued at $1,703,000 after buying an additional 3,524 shares in the last quarter. Finally, Independent Advisor Alliance acquired a new position in Wingstop during the third quarter valued at approximately $226,000.

Insider Activity at Wingstop

In related news, Director Krishnan Anand sold 862 shares of Wingstop stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $173.21, for a total transaction of $149,307.02. Following the transaction, the director now directly owns 3,639 shares in the company, valued at $630,311.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Wingstop news, Director Krishnan Anand sold 862 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $173.21, for a total transaction of $149,307.02. Following the sale, the director now directly owns 3,639 shares of the company’s stock, valued at $630,311.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donnie Upshaw sold 1,088 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $172.50, for a total value of $187,680.00. Following the sale, the senior vice president now directly owns 6,007 shares in the company, valued at $1,036,207.50. The disclosure for this sale can be found here. 0.36% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Cowen lifted their price target on shares of Wingstop from $180.00 to $200.00 in a research report on Thursday, February 23rd. Northcoast Research cut shares of Wingstop from a “buy” rating to a “neutral” rating in a research report on Monday, February 27th. Morgan Stanley boosted their target price on shares of Wingstop from $163.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Monday. Wedbush boosted their target price on shares of Wingstop from $177.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 22nd. Finally, Citigroup boosted their target price on shares of Wingstop from $193.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $172.89.

Wingstop Stock Up 0.7 %

Shares of NASDAQ WING opened at $188.78 on Friday. The stock’s 50-day simple moving average is $176.83 and its two-hundred day simple moving average is $158.29. Wingstop Inc. has a twelve month low of $67.67 and a twelve month high of $193.74. The firm has a market capitalization of $5.66 billion, a P/E ratio of 106.66, a P/E/G ratio of 4.95 and a beta of 1.60.

Wingstop (NASDAQ:WING – Get Rating) last announced its earnings results on Wednesday, February 22nd. The restaurant operator reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.18. Wingstop had a negative return on equity of 13.52% and a net margin of 14.81%. The firm had revenue of $104.90 million during the quarter, compared to analyst estimates of $100.96 million. During the same quarter in the prior year, the company earned $0.24 EPS. The business’s revenue was up 45.7% compared to the same quarter last year. As a group, research analysts anticipate that Wingstop Inc. will post 1.91 EPS for the current fiscal year.

Wingstop Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 10th were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.40%. Wingstop’s dividend payout ratio (DPR) is currently 42.94%.

Wingstop Company Profile

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Wingstop, Inc is a franchisor and operator of restaurants, which engages in the provision of cooked-to-order, hand-sauced, and tossed chicken wings. The company was founded in 1994 and is headquartered in Addison, TX.