True Wealth Design LLC Takes $36,000 Position in Wingstop Inc. (NASDAQ:WING)

True Wealth Design LLC purchased a new position in Wingstop Inc. (NASDAQ:WING) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 87 shares of the restaurant operator’s stock, valued at approximately $36,000.

A number of other hedge funds have also recently made changes to their positions in WING. Fulton Bank N.A. raised its holdings in Wingstop by 5.0% in the third quarter. Fulton Bank N.A. now owns 547 shares of the restaurant operator’s stock worth $228,000 after purchasing an additional 26 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Wingstop by 3.7% in the 2nd quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock worth $347,000 after buying an additional 29 shares during the last quarter. Dark Forest Capital Management LP raised its stake in shares of Wingstop by 4.3% during the 2nd quarter. Dark Forest Capital Management LP now owns 752 shares of the restaurant operator’s stock worth $318,000 after acquiring an additional 31 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Wingstop by 60.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after acquiring an additional 35 shares during the last quarter. Finally, Hollencrest Capital Management boosted its stake in Wingstop by 53.8% in the third quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock valued at $42,000 after acquiring an additional 35 shares in the last quarter.

Wingstop Stock Down 0.8 %

Shares of WING stock opened at $328.77 on Monday. Wingstop Inc. has a 52-week low of $238.06 and a 52-week high of $433.86. The stock has a market cap of $9.60 billion, a PE ratio of 95.85, a price-to-earnings-growth ratio of 3.06 and a beta of 1.78. The business has a 50-day simple moving average of $363.05 and a 200-day simple moving average of $380.53.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The company had revenue of $162.50 million during the quarter, compared to analyst estimates of $160.24 million. During the same period in the previous year, the firm posted $0.69 earnings per share. The company’s revenue was up 38.8% compared to the same quarter last year. Sell-side analysts anticipate that Wingstop Inc. will post 3.68 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Friday, November 15th. Wingstop’s dividend payout ratio (DPR) is presently 31.49%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Stephens reduced their price target on Wingstop from $490.00 to $468.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Citigroup upped their target price on Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Northcoast Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price target for the company in a research note on Friday, November 1st. TD Cowen cut their price objective on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Piper Sandler decreased their price objective on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Wingstop currently has an average rating of “Moderate Buy” and a consensus price target of $368.74.

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.