Diversified Trust Co cut its position in Wingstop Inc. (NASDAQ:WING – Free Report) by 22.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,567 shares of the restaurant operator’s stock after selling 450 shares during the period. Diversified Trust Co’s holdings in Wingstop were worth $314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. Alliancebernstein L.P. increased its stake in Wingstop by 1,176.9% in the 4th quarter. Alliancebernstein L.P. now owns 899,336 shares of the restaurant operator’s stock worth $123,767,000 after acquiring an additional 828,904 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in Wingstop during the fourth quarter valued at $61,571,000. Squarepoint Ops LLC lifted its position in Wingstop by 274.3% during the first quarter. Squarepoint Ops LLC now owns 476,673 shares of the restaurant operator’s stock valued at $87,508,000 after purchasing an additional 349,325 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Wingstop by 18,061.1% in the 1st quarter. Balyasny Asset Management L.P. now owns 274,778 shares of the restaurant operator’s stock worth $50,444,000 after buying an additional 273,265 shares in the last quarter. Finally, Fiera Capital Corp bought a new stake in shares of Wingstop in the 1st quarter worth about $45,404,000.
Insider Transactions at Wingstop
In other news, SVP Donnie Upshaw sold 6,699 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $165.15, for a total transaction of $1,106,339.85. Following the completion of the transaction, the senior vice president now directly owns 173 shares in the company, valued at $28,570.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.36% of the company’s stock.
Wingstop Stock Down 0.8 %
Wingstop (NASDAQ:WING – Get Free Report) last released its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. The business had revenue of $107.10 million for the quarter, compared to the consensus estimate of $104.24 million. Wingstop had a negative return on equity of 17.21% and a net margin of 15.19%. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 earnings per share. On average, analysts expect that Wingstop Inc. will post 2.17 earnings per share for the current year.
Wingstop Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 18th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, August 17th. This is a boost from Wingstop’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.49%. Wingstop’s dividend payout ratio (DPR) is currently 41.90%.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. Jefferies Financial Group reduced their price objective on Wingstop from $174.00 to $150.00 and set an “underperform” rating on the stock in a research note on Thursday, August 3rd. Stifel Nicolaus raised shares of Wingstop from a “hold” rating to a “buy” rating and lifted their price target for the stock from $180.00 to $200.00 in a research note on Tuesday, September 26th. Morgan Stanley increased their price objective on shares of Wingstop from $187.00 to $188.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. Benchmark upgraded Wingstop from a “hold” rating to a “buy” rating and set a $200.00 price target on the stock in a report on Thursday, August 3rd. Finally, UBS Group decreased their price objective on shares of Wingstop from $225.00 to $190.00 in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Wingstop currently has a consensus rating of “Hold” and an average price target of $194.70.
Read Our Latest Report on WING
About Wingstop
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.
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