Tritonpoint Wealth LLC Trims Position in Wingstop Inc. $WING

Tritonpoint Wealth LLC lessened its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 4.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,697 shares of the restaurant operator’s stock after selling 213 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Wingstop were worth $1,582,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Wingstop by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,646,934 shares of the restaurant operator’s stock worth $371,517,000 after purchasing an additional 496,717 shares during the period. American Century Companies Inc. lifted its stake in shares of Wingstop by 4.7% during the 1st quarter. American Century Companies Inc. now owns 1,262,597 shares of the restaurant operator’s stock worth $284,817,000 after purchasing an additional 56,535 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in shares of Wingstop during the 1st quarter worth $212,672,000. Alyeska Investment Group L.P. lifted its stake in shares of Wingstop by 29.8% during the 1st quarter. Alyeska Investment Group L.P. now owns 693,115 shares of the restaurant operator’s stock worth $156,353,000 after purchasing an additional 158,977 shares during the period. Finally, Champlain Investment Partners LLC lifted its stake in shares of Wingstop by 130.7% during the 1st quarter. Champlain Investment Partners LLC now owns 631,989 shares of the restaurant operator’s stock worth $142,564,000 after purchasing an additional 358,044 shares during the period.

Wingstop Price Performance

NASDAQ:WING opened at $247.44 on Friday. The business’s 50-day moving average is $309.12 and its two-hundred day moving average is $295.69. Wingstop Inc. has a 12 month low of $204.00 and a 12 month high of $427.00. The firm has a market capitalization of $6.91 billion, a PE ratio of 41.24, a price-to-earnings-growth ratio of 3.11 and a beta of 1.87.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, July 30th. The restaurant operator reported $1.00 EPS for the quarter, beating the consensus estimate of $0.88 by $0.12. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.The company had revenue of $174.33 million for the quarter, compared to analyst estimates of $172.60 million. During the same period last year, the company posted $0.93 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year. Equities analysts anticipate that Wingstop Inc. will post 4.18 EPS for the current year.

Wingstop Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.5%. This is a boost from Wingstop’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, August 15th. Wingstop’s dividend payout ratio is 20.00%.

Analysts Set New Price Targets

A number of brokerages have weighed in on WING. The Goldman Sachs Group increased their price target on Wingstop from $310.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Bank of America cut their target price on Wingstop from $430.00 to $420.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. BMO Capital Markets increased their target price on Wingstop from $275.00 to $345.00 and gave the stock a “market perform” rating in a research report on Thursday, July 31st. Westpark Capital raised Wingstop to a “strong-buy” rating in a research report on Wednesday, July 9th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Wingstop in a research report on Wednesday, September 17th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Wingstop has a consensus rating of “Moderate Buy” and an average target price of $380.52.

Insider Activity

In other news, SVP Marisa Carona sold 11,938 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $370.34, for a total transaction of $4,421,118.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alex Kaleida sold 5,400 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $376.09, for a total value of $2,030,886.00. Following the sale, the chief financial officer owned 8,362 shares of the company’s stock, 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. Insiders sold 21,838 shares of company stock worth $8,118,535 over the last ninety days. Corporate insiders own 0.72% of the company’s stock.

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.