Algert Global LLC Cuts Holdings in Wingstop Inc. (NASDAQ:WING)

Algert Global LLC decreased its position in Wingstop Inc. (NASDAQ:WING) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,002 shares of the restaurant operator’s stock after selling 265 shares during the period. Algert Global LLC owned 0.09% of Wingstop worth $10,403,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of WING. Price T Rowe Associates Inc. MD increased its position in shares of Wingstop by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator’s stock valued at $833,026,000 after acquiring an additional 101,917 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Wingstop by 7.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 647,677 shares of the restaurant operator’s stock valued at $269,485,000 after purchasing an additional 46,772 shares during the period. Renaissance Technologies LLC increased its position in shares of Wingstop by 36.6% during the 2nd quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock valued at $254,860,000 after purchasing an additional 161,600 shares during the last quarter. Eagle Asset Management Inc. raised its stake in shares of Wingstop by 40.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock worth $193,630,000 after purchasing an additional 134,802 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Wingstop by 284.1% in the 2nd quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock worth $161,957,000 after buying an additional 283,412 shares during the last quarter.

Wingstop Stock Performance

Shares of WING stock opened at $337.60 on Friday. The company has a market capitalization of $9.86 billion, a PE ratio of 98.43, a price-to-earnings-growth ratio of 3.15 and a beta of 1.76. Wingstop Inc. has a 52-week low of $229.27 and a 52-week high of $433.86. The business’s fifty day moving average is $372.44 and its 200 day moving average is $382.99.

Wingstop (NASDAQ:WING) last released its quarterly earnings results 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 net margin of 17.05% and a negative return on equity of 22.69%. The business’s revenue was up 38.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 EPS. On average, sell-side analysts forecast that Wingstop Inc. will post 3.68 EPS for the current fiscal year.

Wingstop Dividend Announcement

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

Analyst Upgrades and Downgrades

WING has been the subject of a number of research analyst reports. 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 report on Monday, November 4th. Wedbush restated an “outperform” rating and set a $390.00 price target on shares of Wingstop in a research note on Tuesday, November 5th. The Goldman Sachs Group upgraded Wingstop from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $458.00 to $377.00 in a research note on Friday, November 8th. TD Cowen decreased their target price on Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Stephens dropped 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. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $368.74.

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.