Envestnet Portfolio Solutions Inc. Reduces Position in Wingstop Inc. $WING

Envestnet Portfolio Solutions Inc. reduced its stake in Wingstop Inc. (NASDAQ:WING) by 6.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 844 shares of the restaurant operator’s stock after selling 59 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Wingstop were worth $284,000 at the end of the most recent reporting period.

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

Wingstop Trading Down 1.4%

Shares of NASDAQ WING opened at $259.14 on Friday. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 43.19, a price-to-earnings-growth ratio of 3.35 and a beta of 1.78. Wingstop Inc. has a 12-month low of $204.00 and a 12-month high of $388.14. The stock’s 50 day simple moving average is $280.31 and its 200 day simple moving average is $299.26.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.12. The business had revenue of $174.33 million for the quarter, compared to the consensus estimate of $172.60 million. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.The business’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $0.93 EPS. As a group, equities analysts forecast that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were issued a $0.30 dividend. This is a positive change from Wingstop’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.5%. Wingstop’s dividend payout ratio is currently 20.00%.

Wall Street Analyst Weigh In

Several research firms have weighed in on WING. Wells Fargo & Company dropped their price target on Wingstop from $415.00 to $365.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Citigroup boosted their price target on Wingstop from $296.00 to $321.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Wolfe Research began coverage on Wingstop in a research note on Wednesday, July 9th. They set an “outperform” rating and a $280.00 price objective on the stock. Wall Street Zen cut Wingstop from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $350.00 price target (down previously from $420.00) on shares of Wingstop in a research note on Thursday, October 16th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Wingstop presently has an average rating of “Moderate Buy” and a consensus target price of $362.50.

Insider Buying and Selling

In related news, SVP Marisa Carona sold 11,938 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Skipworth sold 4,500 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was 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 of the company’s stock, valued at $15,842,034.18. This trade represents a 9.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,838 shares of company stock valued at $8,118,535 in the last three months. 0.72% of the stock is currently owned by corporate insiders.

Wingstop Profile

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.