Wingstop Inc. (NASDAQ:WING) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its position in Wingstop Inc. (NASDAQ:WING) by 20.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 165,100 shares of the restaurant operator’s stock after selling 42,061 shares during the period. Jennison Associates LLC’s holdings in Wingstop were worth $42,361,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. National Bank of Canada FI boosted its position in shares of Wingstop by 93.6% in the 3rd quarter. National Bank of Canada FI now owns 12,570 shares of the restaurant operator’s stock valued at $2,225,000 after purchasing an additional 6,077 shares during the period. SG Americas Securities LLC boosted its position in shares of Wingstop by 3.9% in the 3rd quarter. SG Americas Securities LLC now owns 9,336 shares of the restaurant operator’s stock valued at $1,679,000 after purchasing an additional 352 shares during the period. Ziegler Capital Management LLC boosted its position in shares of Wingstop by 21.4% in the 3rd quarter. Ziegler Capital Management LLC now owns 2,700 shares of the restaurant operator’s stock valued at $486,000 after purchasing an additional 476 shares during the period. BTC Capital Management Inc. boosted its position in shares of Wingstop by 20.8% in the 3rd quarter. BTC Capital Management Inc. now owns 1,427 shares of the restaurant operator’s stock valued at $257,000 after purchasing an additional 246 shares during the period. Finally, Copeland Capital Management LLC boosted its position in shares of Wingstop by 13.1% in the 3rd quarter. Copeland Capital Management LLC now owns 462,173 shares of the restaurant operator’s stock valued at $83,117,000 after purchasing an additional 53,688 shares during the period.

Insider Activity at Wingstop

In related news, CEO Michael Skipworth sold 10,843 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $337.40, for a total value of $3,658,428.20. Following the transaction, the chief executive officer now directly owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Wingstop news, CEO Michael Skipworth sold 10,843 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $337.40, for a total value of $3,658,428.20. Following the sale, the chief executive officer now owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Marisa Carona sold 2,586 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $371.96, for a total value of $961,888.56. Following the completion of the sale, the senior vice president now directly owns 1,646 shares in the company, valued at approximately $612,246.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,901 shares of company stock valued at $5,120,605. Corporate insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

WING has been the subject of a number of recent analyst reports. Citigroup increased their price target on Wingstop from $320.00 to $375.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. TD Cowen reiterated a “buy” rating and issued a $410.00 price target on shares of Wingstop in a research report on Wednesday, April 10th. Truist Financial reissued a “hold” rating and issued a $292.00 price objective on shares of Wingstop in a research note on Monday, April 1st. Jefferies Financial Group increased their price objective on Wingstop from $310.00 to $335.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Finally, Sanford C. Bernstein started coverage on Wingstop in a research note on Wednesday, February 14th. They issued an “outperform” rating and a $340.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Wingstop presently has a consensus rating of “Hold” and a consensus target price of $290.83.

Wingstop Stock Performance

Shares of WING stock opened at $364.73 on Wednesday. The stock’s 50 day simple moving average is $351.10 and its 200 day simple moving average is $278.19. Wingstop Inc. has a twelve month low of $150.08 and a twelve month high of $379.00. The company has a market capitalization of $10.71 billion, a price-to-earnings ratio of 155.20, a PEG ratio of 6.27 and a beta of 1.68.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Wingstop had a negative return on equity of 17.66% and a net margin of 15.25%. The business had revenue of $127.06 million for the quarter, compared to the consensus estimate of $120.47 million. During the same period last year, the business earned $0.60 EPS. The firm’s revenue was up 21.2% compared to the same quarter last year. On average, analysts forecast that Wingstop Inc. will post 3.01 EPS for the current fiscal year.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Thursday, March 7th. Wingstop’s payout ratio is 37.45%.

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.