Bridges Investment Management Inc. Purchases New Position in Wingstop Inc. $WING

Bridges Investment Management Inc. acquired a new position in shares of Wingstop Inc. (NASDAQ:WINGFree Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 784 shares of the restaurant operator’s stock, valued at approximately $264,000.

Several other hedge funds have also made changes to their positions in WING. Amundi increased its stake in shares of Wingstop by 289.2% during the first quarter. Amundi now owns 18,595 shares of the restaurant operator’s stock valued at $4,514,000 after buying an additional 13,817 shares during the period. Stephens Investment Management Group LLC grew its holdings in Wingstop by 66.3% during the 1st quarter. Stephens Investment Management Group LLC now owns 446,601 shares of the restaurant operator’s stock worth $100,744,000 after acquiring an additional 178,041 shares in the last quarter. Principal Financial Group Inc. increased its position in Wingstop by 16.7% during the 1st quarter. Principal Financial Group Inc. now owns 79,225 shares of the restaurant operator’s stock valued at $17,872,000 after purchasing an additional 11,329 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Wingstop by 501.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,112 shares of the restaurant operator’s stock valued at $251,000 after purchasing an additional 927 shares in the last quarter. Finally, Carnegie Investment Counsel lifted its position in shares of Wingstop by 32.3% in the 1st quarter. Carnegie Investment Counsel now owns 47,200 shares of the restaurant operator’s stock worth $10,431,000 after purchasing an additional 11,525 shares during the period.

Wingstop Stock Performance

Wingstop stock opened at $257.04 on Friday. The stock has a market cap of $7.18 billion, a PE ratio of 42.84, a price-to-earnings-growth ratio of 3.13 and a beta of 1.78. The stock has a 50-day moving average of $286.20 and a two-hundred day moving average of $298.48. Wingstop Inc. has a one year low of $204.00 and a one year high of $388.14.

Wingstop (NASDAQ:WINGGet Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.12. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.The business had revenue of $174.33 million for the quarter, compared to analyst estimates of $172.60 million. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts predict that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, August 15th. This is a positive change from Wingstop’s previous quarterly dividend of $0.27. Wingstop’s dividend payout ratio (DPR) is currently 20.00%.

Wall Street Analyst Weigh In

WING has been the topic of several research reports. BMO Capital Markets lifted their price objective on shares of Wingstop from $275.00 to $345.00 and gave the company a “market perform” rating in a report on Thursday, July 31st. Wells Fargo & Company cut their price target on Wingstop from $415.00 to $365.00 and set an “overweight” rating on the stock in a report on Thursday. Wedbush restated an “outperform” rating on shares of Wingstop in a research note on Wednesday, September 17th. Sanford C. Bernstein reiterated an “overweight” rating and issued a $440.00 target price on shares of Wingstop in a research note on Thursday, July 31st. Finally, Bank of America decreased their price target on shares of Wingstop from $430.00 to $420.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $366.73.

View Our Latest Research Report on Wingstop

Insiders Place Their Bets

In related news, SVP Marisa Carona sold 11,938 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $370.34, for a total value of $4,421,118.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Skipworth sold 4,500 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $370.34, for a total value of $1,666,530.00. Following the completion of the transaction, the chief executive officer directly owned 42,777 shares in the company, valued at approximately $15,842,034.18. The trade was a 9.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,838 shares of company stock valued at $8,118,535. Insiders own 0.72% of the company’s stock.

About Wingstop

(Free Report)

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.

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Want to see what other hedge funds are holding WING? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wingstop Inc. (NASDAQ:WINGFree Report).

Institutional Ownership by Quarter for Wingstop (NASDAQ:WING)

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