Eagle Asset Management Inc. Boosts Holdings in Wingstop Inc. (NASDAQ:WING)

Eagle Asset Management Inc. boosted its stake in shares of Wingstop Inc. (NASDAQ:WING) by 40.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 465,368 shares of the restaurant operator’s stock after purchasing an additional 134,802 shares during the quarter. Wingstop makes up 1.0% of Eagle Asset Management Inc.’s investment portfolio, making the stock its 12th biggest holding. Eagle Asset Management Inc. owned approximately 1.59% of Wingstop worth $193,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in WING. Hollencrest Capital Management acquired a new stake in Wingstop during the second quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new position in Wingstop in the second quarter valued at $34,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Wingstop by 60.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after purchasing an additional 35 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of Wingstop by 60.6% during the third quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after purchasing an additional 40 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Wingstop by 384.6% in the 3rd quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock valued at $53,000 after purchasing an additional 100 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WING. Citigroup lifted their target price on shares of Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Piper Sandler reduced their target price 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. Northcoast Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price target on the stock in a report on Friday, November 1st. TD Cowen reduced their price objective on Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, BMO Capital Markets lifted their target price on Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $368.74.

Wingstop Trading Up 1.2 %

NASDAQ:WING opened at $337.37 on Friday. Wingstop Inc. has a 12-month low of $229.27 and a 12-month high of $433.86. The company’s 50-day moving average is $372.44 and its two-hundred day moving average is $382.99. The firm has a market cap of $9.85 billion, a price-to-earnings ratio of 98.36, a price-to-earnings-growth ratio of 3.13 and a beta of 1.76.

Wingstop (NASDAQ:WING) last issued 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). The business had revenue of $162.50 million during the quarter, compared to analyst estimates of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The firm’s quarterly revenue was up 38.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 earnings per share. On average, equities research analysts forecast that Wingstop Inc. will post 3.68 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

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

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.