Carnegie Investment Counsel Purchases 1,498 Shares of Wingstop Inc. (NASDAQ:WING)

Carnegie Investment Counsel increased its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 5.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 26,929 shares of the restaurant operator’s stock after purchasing an additional 1,498 shares during the period. Carnegie Investment Counsel owned 0.09% of Wingstop worth $11,204,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of WING. CWM LLC increased its holdings in shares of Wingstop by 132.0% in the third quarter. CWM LLC now owns 5,306 shares of the restaurant operator’s stock valued at $2,208,000 after purchasing an additional 3,019 shares during the last quarter. Fulton Bank N.A. lifted its position in Wingstop by 5.0% during the third quarter. Fulton Bank N.A. now owns 547 shares of the restaurant operator’s stock worth $228,000 after acquiring an additional 26 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Wingstop by 15.1% during the third quarter. GAMMA Investing LLC now owns 313 shares of the restaurant operator’s stock worth $130,000 after acquiring an additional 41 shares during the period. Handelsbanken Fonder AB grew its position in shares of Wingstop by 19.2% in the third quarter. Handelsbanken Fonder AB now owns 7,444 shares of the restaurant operator’s stock valued at $3,097,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Wingstop during the 2nd quarter worth approximately $535,000.

Insider Activity at Wingstop

In other news, SVP Donnie Upshaw sold 3,199 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the completion of the transaction, the senior vice president now owns 97 shares of the company’s stock, valued at approximately $36,152.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.36% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WING shares. Morgan Stanley lifted their target price on Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 16th. The Goldman Sachs Group increased their target price on shares of Wingstop from $407.00 to $458.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Stifel Nicolaus lifted their price target on shares of Wingstop from $420.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Stephens reissued an “overweight” rating and set a $475.00 price target on shares of Wingstop in a research report on Wednesday, August 14th. Finally, BMO Capital Markets lifted their price objective on Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $382.00.

Wingstop Trading Up 2.2 %

Shares of Wingstop stock opened at $403.82 on Friday. The firm’s 50 day moving average is $394.19 and its 200 day moving average is $387.89. The firm has a market capitalization of $11.83 billion, a PE ratio of 143.71, a price-to-earnings-growth ratio of 3.94 and a beta of 1.71. Wingstop Inc. has a 1 year low of $173.03 and a 1 year high of $433.86.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.11. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The company had revenue of $155.70 million during the quarter, compared to the consensus estimate of $146.04 million. During the same period in the prior year, the business earned $0.57 earnings per share. The company’s revenue for the quarter was up 45.3% compared to the same quarter last year. As a group, research analysts anticipate that Wingstop Inc. will post 3.79 earnings per share for the current year.

Wingstop Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.08 annualized dividend and a dividend yield of 0.27%. This is an increase from Wingstop’s previous quarterly dividend of $0.22. Wingstop’s dividend payout ratio is currently 38.43%.

Wingstop Company 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.