Retirement Systems of Alabama Sells 341 Shares of Wingstop Inc. (NASDAQ:WING)

Posted by Defense World Staff on Jul 25th, 2023

Retirement Systems of Alabama cut its stake in shares of Wingstop Inc. (NASDAQ:WING – Free Report) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,089 shares of the restaurant operator’s stock after selling 341 shares during the quarter. Retirement Systems of Alabama owned 0.13% of Wingstop worth $7,176,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WING. Public Employees Retirement System of Ohio grew its holdings in Wingstop by 39.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 277 shares of the restaurant operator’s stock worth $35,000 after acquiring an additional 79 shares during the last quarter. OLD Mission Capital LLC bought a new stake in Wingstop during the 4th quarter worth approximately $52,000. International Assets Investment Management LLC bought a new stake in Wingstop during the 1st quarter worth approximately $57,000. IFP Advisors Inc grew its holdings in Wingstop by 102.8% during the 4th quarter. IFP Advisors Inc now owns 1,288 shares of the restaurant operator’s stock worth $72,000 after acquiring an additional 653 shares during the last quarter. Finally, Fortis Capital Advisors LLC bought a new stake in Wingstop during the 4th quarter worth approximately $112,000.

Analyst Ratings Changes

WING has been the topic of a number of research reports. UBS Group boosted their target price on shares of Wingstop from $190.00 to $225.00 in a report on Thursday, May 4th. Morgan Stanley boosted their price target on shares of Wingstop from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Monday, July 17th. StockNews.com assumed coverage on shares of Wingstop in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Northcoast Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $229.00 price target on the stock in a research report on Tuesday, June 27th. Finally, BMO Capital Markets boosted their price target on shares of Wingstop from $190.00 to $210.00 in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $201.00.

Wingstop Trading Down 1.3 %

Shares of WING stock opened at $183.39 on Tuesday. The firm has a market capitalization of $5.50 billion, a PE ratio of 91.70, a price-to-earnings-growth ratio of 4.30 and a beta of 1.57. The firm has a fifty day simple moving average of $194.58 and a two-hundred day simple moving average of $181.90. Wingstop Inc. has a 12 month low of $93.92 and a 12 month high of $223.77.

Wingstop (NASDAQ:WING – Get Free Report) last announced its quarterly earnings results on Wednesday, May 3rd. The restaurant operator reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.13. The business had revenue of $108.70 million during the quarter, compared to analyst estimates of $99.48 million. Wingstop had a net margin of 15.37% and a negative return on equity of 15.81%. Wingstop’s quarterly revenue was up 42.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. On average, equities analysts predict that Wingstop Inc. will post 2.16 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Friday, May 19th were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $0.76 annualized dividend and a dividend yield of 0.41%. Wingstop’s payout ratio is 38.00%.

Insider Transactions at Wingstop

In other news, Director Wesley S. Mcdonald sold 1,500 shares of the company’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $206.65, for a total value of $309,975.00. Following the completion of the sale, the director now owns 5,310 shares in the company, valued at approximately $1,097,311.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Michael Skipworth sold 4,910 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $208.21, for a total transaction of $1,022,311.10. Following the completion of the transaction, the chief executive officer now owns 19,242 shares in the company, valued at $4,006,376.82. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Wesley S. Mcdonald sold 1,500 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $206.65, for a total transaction of $309,975.00. Following the transaction, the director now owns 5,310 shares of the company’s stock, valued at approximately $1,097,311.50. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

Wingstop Profile

(Free Report)

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. Wingstop Inc was founded in 1994 and is headquartered in Addison, Texas.