Federated Hermes Inc. Sells 41,366 Shares of Wingstop Inc. (NASDAQ:WING)

Federated Hermes Inc. lessened its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,051,508 shares of the restaurant operator’s stock after selling 41,366 shares during the period. Wingstop accounts for approximately 1.1% of Federated Hermes Inc.’s investment portfolio, making the stock its 9th biggest holding. Federated Hermes Inc. owned approximately 3.59% of Wingstop worth $444,430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Rise Advisors LLC purchased a new position in Wingstop during the 1st quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC purchased a new position in Wingstop during the 2nd quarter worth approximately $34,000. Massmutual Trust Co. FSB ADV grew its stake in Wingstop by 60.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after buying an additional 35 shares during the last quarter. GAMMA Investing LLC grew its stake in Wingstop by 53.3% during the 1st quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after buying an additional 40 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in Wingstop during the 4th quarter worth approximately $47,000.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley raised their price target on Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 16th. TD Cowen reissued a “buy” rating and issued a $450.00 price target on shares of Wingstop in a report on Wednesday, July 31st. Truist Financial lifted their price objective on Wingstop from $407.00 to $423.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Wedbush reissued an “outperform” rating and issued a $425.00 price target on shares of Wingstop in a report on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their price target on Wingstop from $407.00 to $458.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $378.65.

Insider Buying and Selling

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the sale, the senior vice president now owns 97 shares in the company, valued at $36,152.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.36% of the company’s stock.

Wingstop Price Performance

Shares of NASDAQ WING opened at $395.54 on Friday. Wingstop Inc. has a 1-year low of $164.45 and a 1-year high of $431.03. The business has a 50-day moving average of $379.66 and a 200-day moving average of $378.84. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 140.76, a PEG ratio of 3.92 and a beta of 1.71.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. The business had revenue of $155.70 million for the quarter, compared to analysts’ expectations of $146.04 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company’s revenue was up 45.3% compared to the same quarter last year. Research analysts expect that Wingstop Inc. will post 3.77 EPS for the current fiscal year.

Wingstop Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were paid a $0.27 dividend. This is a boost from Wingstop’s previous quarterly dividend of $0.22. 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%. Wingstop’s payout ratio is 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.