Ontario Teachers Pension Plan Board Sells 3,025 Shares of Wingstop Inc. (NASDAQ:WING)

Ontario Teachers Pension Plan Board cut its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 40.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,490 shares of the restaurant operator’s stock after selling 3,025 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Wingstop were worth $1,868,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its stake in shares of Wingstop by 6.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 7,954 shares of the restaurant operator’s stock valued at $3,310,000 after buying an additional 511 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Wingstop in the third quarter worth $4,983,000. Avior Wealth Management LLC boosted its holdings in shares of Wingstop by 5.7% in the third quarter. Avior Wealth Management LLC now owns 1,174 shares of the restaurant operator’s stock worth $488,000 after acquiring an additional 63 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in shares of Wingstop by 13.8% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,276 shares of the restaurant operator’s stock valued at $531,000 after purchasing an additional 155 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in Wingstop during the 3rd quarter valued at about $421,000.

Wingstop Trading Up 2.7 %

Wingstop stock opened at $335.58 on Wednesday. The firm has a market cap of $9.80 billion, a P/E ratio of 97.84, a P/E/G ratio of 3.04 and a beta of 1.76. Wingstop Inc. has a 1-year low of $227.54 and a 1-year high of $433.86. The firm has a 50-day moving average of $374.77 and a 200-day moving average of $383.66.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.09). The business had revenue of $162.50 million during the quarter, compared to analysts’ expectations of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The company’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. Research analysts forecast that Wingstop Inc. will post 3.68 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a $0.27 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.08 annualized dividend and a dividend yield of 0.32%. Wingstop’s dividend payout ratio is 31.49%.

Analyst Ratings Changes

Several analysts have issued reports on WING shares. TD Cowen lowered their target price on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Stephens dropped their price objective on Wingstop from $490.00 to $468.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Northcoast Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 target price on the stock in a research note on Friday, November 1st. The Goldman Sachs Group upgraded Wingstop from a “neutral” rating to a “buy” rating and dropped their price target for the company from $458.00 to $377.00 in a research report on Friday, November 8th. Finally, Wedbush restated an “outperform” rating and issued a $390.00 price objective on shares of Wingstop in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.