Kornitzer Capital Management Inc. KS increased its holdings in Wingstop Inc. (NASDAQ:WING – Free Report) by 45.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,455 shares of the restaurant operator’s stock after buying an additional 2,955 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Wingstop were worth $996,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of WING. BlackRock Inc. acquired a new stake in Wingstop during the 2nd quarter valued at approximately $481,314,000. Darsana Capital Partners LP boosted its holdings in shares of Wingstop by 20.0% in the 2nd quarter. Darsana Capital Partners LP now owns 1,500,000 shares of the restaurant operator’s stock valued at $260,115,000 after acquiring an additional 250,000 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in shares of Wingstop by 44.5% in the 2nd quarter. Alyeska Investment Group L.P. now owns 942,943 shares of the restaurant operator’s stock valued at $163,516,000 after acquiring an additional 290,501 shares during the last quarter. State Street Corp increased its stake in shares of Wingstop by 2.0% in the second quarter. State Street Corp now owns 863,951 shares of the restaurant operator’s stock worth $149,751,000 after acquiring an additional 16,907 shares during the period. Finally, Jupiter Topco LLC acquired a new stake in shares of Wingstop in the second quarter worth $147,440,000.
Insider Buying and Selling at Wingstop
In related news, Director Wesley Mcdonald sold 1,520 shares of the stock in a transaction on Friday, October 30th. The shares were sold at an average price of $145.11, for a total transaction of $220,567.20. Following the sale, the director directly owned 3,986 shares of the company’s stock, valued at approximately $578,408.46. This represents a 27.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Raj Kapoor sold 2,500 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $163.61, for a total transaction of $409,025.00. Following the sale, the chief operating officer owned 1,659 shares in the company, valued at approximately $271,428.99. This represents a 60.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.53% of the company’s stock.
Wingstop Trading Down 4.2%
Shares of NASDAQ:WING opened at $169.58 on Wednesday. Wingstop Inc. has a 12-month low of $95.82 and a 12-month high of $302.80. The company has a market capitalization of $4.59 billion, a PE ratio of 39.81, a PEG ratio of 2.35 and a beta of 1.77. The business has a 50 day moving average of $122.62 and a two-hundred day moving average of $160.91.
Wingstop (NASDAQ:WING – Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The restaurant operator reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. The business had revenue of $185.13 million for the quarter, compared to analysts’ expectations of $192.89 million. Wingstop had a net margin of 16.03% and a negative return on equity of 15.80%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $1.09 EPS. Equities research analysts predict that Wingstop Inc. will post 4.19 earnings per share for the current fiscal year.
Wingstop Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, November 13th. Wingstop’s payout ratio is currently 30.99%.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on WING shares. Mizuho reduced their target price on shares of Wingstop from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, October 23rd. Citigroup decreased their target price on shares of Wingstop from $191.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. Robert W. Baird lowered their price target on shares of Wingstop from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 22nd. Royal Bank Of Canada increased their price target on Wingstop from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, October 29th. Finally, Piper Sandler set a $173.00 price target on Wingstop in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $219.56.
Get Our Latest Analysis on Wingstop
Wingstop Profile
Wingstop Inc. is a restaurant company focused on chicken wings and related menu items. Its offerings include classic and boneless wings with a range of flavors, as well as chicken tenders, fries, dips and other sides. Customers can order through its restaurants and digital channels. Founded in 1994 in Garland, Texas, Wingstop has grown into an international brand. The company operates primarily through franchised restaurants in the United States and select international markets. Wingstop is headquartered in Addison, Texas.
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