Seven Eight Capital LP Sells 487 Shares of Wingstop Inc. (NASDAQ:WING)

Seven Eight Capital LP lowered its position in Wingstop Inc. (NASDAQ:WING) by 7.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,693 shares of the restaurant operator’s stock after selling 487 shares during the period. Seven Eight Capital LP’s holdings in Wingstop were worth $2,406,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WING. Vanguard Group Inc. increased its position in Wingstop by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock valued at $1,071,473,000 after buying an additional 104,780 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Wingstop by 4.7% during the 1st 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 buying an additional 101,917 shares in the last quarter. Franklin Resources Inc. increased its position in Wingstop by 155.7% during the 4th quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock valued at $224,093,000 after buying an additional 531,880 shares in the last quarter. Renaissance Technologies LLC increased its position in 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 buying an additional 161,600 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Wingstop by 2.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 600,905 shares of the restaurant operator’s stock valued at $253,979,000 after buying an additional 16,526 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Barclays raised their price objective on Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Wedbush lifted their target price on Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a report on Monday. Stifel Nicolaus raised their price target on Wingstop from $420.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Piper Sandler raised their price target on Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Stephens restated an “overweight” rating and issued a $475.00 price target on shares of Wingstop in a research note on Wednesday, August 14th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Wingstop currently has a consensus rating of “Hold” and an average target price of $379.53.

Insider Buying and Selling at Wingstop

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 97 shares of the company’s stock, valued at $36,152.87. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.36% of the stock is owned by corporate insiders.

Wingstop Trading Up 1.9 %

WING opened at $416.66 on Wednesday. The stock’s 50-day moving average price is $379.23 and its 200 day moving average price is $380.08. Wingstop Inc. has a 12-month low of $166.65 and a 12-month high of $431.03. The firm has a market cap of $12.21 billion, a price-to-earnings ratio of 148.28, a PEG ratio of 4.09 and a beta of 1.71.

Wingstop (NASDAQ:WING) last posted its 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 negative return on equity of 21.18% and a net margin of 17.33%. The firm had revenue of $155.70 million for the quarter, compared to analyst estimates of $146.04 million. During the same quarter in the prior year, the company earned $0.57 EPS. Wingstop’s revenue was up 45.3% on a year-over-year basis. On average, research analysts forecast that Wingstop Inc. will post 3.77 earnings per share for the current year.

Wingstop Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.08 dividend on an annualized basis and a yield of 0.26%. This is a positive change from Wingstop’s previous quarterly dividend of $0.22. Wingstop’s dividend payout ratio (DPR) is currently 38.43%.

Wingstop 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.