Wingstop Inc. $WING Stock Holdings Lessened by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its holdings in Wingstop Inc. (NASDAQ:WING) by 8.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 15,200 shares of the restaurant operator’s stock after selling 1,353 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of Wingstop worth $5,118,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. bought a new stake in Wingstop in the 1st quarter valued at about $212,672,000. Price T Rowe Associates Inc. MD lifted its position in Wingstop by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,646,934 shares of the restaurant operator’s stock valued at $371,517,000 after purchasing an additional 496,717 shares during the last quarter. Champlain Investment Partners LLC lifted its position in Wingstop by 130.7% in the 1st quarter. Champlain Investment Partners LLC now owns 631,989 shares of the restaurant operator’s stock valued at $142,564,000 after purchasing an additional 358,044 shares during the last quarter. AQR Capital Management LLC lifted its position in Wingstop by 64.4% in the 1st quarter. AQR Capital Management LLC now owns 550,879 shares of the restaurant operator’s stock valued at $123,295,000 after purchasing an additional 215,816 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its position in Wingstop by 66.3% in the 1st quarter. Stephens Investment Management Group LLC now owns 446,601 shares of the restaurant operator’s stock valued at $100,744,000 after purchasing an additional 178,041 shares during the last quarter.

Wingstop Price Performance

Wingstop stock opened at $266.89 on Wednesday. The firm’s 50 day simple moving average is $283.24 and its 200-day simple moving average is $299.24. The company has a market cap of $7.45 billion, a P/E ratio of 44.48, a price-to-earnings-growth ratio of 3.26 and a beta of 1.78. Wingstop Inc. has a fifty-two week low of $204.00 and a fifty-two week high of $388.14.

Wingstop (NASDAQ:WING) last released its earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share 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 net margin of 25.61% and a negative return on equity of 17.07%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $0.93 earnings per share. On average, analysts expect 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. Investors of record on Friday, August 15th were issued a dividend of $0.30 per share. This is an increase from Wingstop’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, August 15th. Wingstop’s dividend payout ratio is 20.00%.

Analyst Ratings Changes

WING has been the topic of several research analyst reports. Piper Sandler initiated coverage on shares of Wingstop in a research note on Wednesday, July 9th. They set an “overweight” rating on the stock. Bank of America lowered their target price on shares of Wingstop from $430.00 to $420.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Wells Fargo & Company lowered their target price on shares of Wingstop from $415.00 to $365.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. William Blair initiated coverage on shares of Wingstop in a research note on Wednesday, July 9th. They issued an “outperform” rating on the stock. Finally, The Goldman Sachs Group lowered their price objective on shares of Wingstop from $430.00 to $370.00 and set a “buy” rating on the stock in a research note on Tuesday, September 30th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $366.73.

Insider Buying and Selling

In related news, CFO Alex Kaleida sold 5,400 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $376.09, for a total transaction of $2,030,886.00. Following the completion of the sale, the chief financial officer directly owned 8,362 shares in the company, valued at approximately $3,144,864.58. This trade represents a 39.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Marisa Carona sold 11,938 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $370.34, for a total transaction of $4,421,118.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,838 shares of company stock worth $8,118,535. 0.72% of the stock is owned by company 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.