Precision Wealth Strategies LLC Reduces Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Precision Wealth Strategies LLC trimmed its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,062 shares of the restaurant operator’s stock after selling 36 shares during the quarter. Precision Wealth Strategies LLC’s holdings in Wingstop were worth $442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WING. 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. Wedmont Private Capital acquired a new stake in Wingstop during the 1st quarter worth about $203,000. Riverview Trust Co acquired a new stake in Wingstop during the 1st quarter worth about $66,000. WoodTrust Financial Corp acquired a new stake in Wingstop during the 1st quarter worth about $284,000. Finally, State of Michigan Retirement System lifted its position in Wingstop by 2.8% during the 1st quarter. State of Michigan Retirement System now owns 7,272 shares of the restaurant operator’s stock worth $2,664,000 after acquiring an additional 200 shares during the period.

Wingstop Stock Down 0.6 %

Shares of Wingstop stock opened at $368.44 on Tuesday. Wingstop Inc. has a 52 week low of $173.74 and a 52 week high of $433.86. The business’s fifty day simple moving average is $396.04 and its 200-day simple moving average is $388.63. The firm has a market cap of $10.80 billion, a PE ratio of 131.12, a price-to-earnings-growth ratio of 3.69 and a beta of 1.71.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, beating 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 analyst estimates of $146.04 million. During the same quarter in the prior year, the company posted $0.57 EPS. The company’s quarterly revenue was up 45.3% on a year-over-year basis. As a group, equities analysts expect that Wingstop Inc. will post 3.79 earnings per share for the current year.

Wingstop Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Friday, August 16th. This is a positive change from Wingstop’s previous quarterly dividend of $0.22. Wingstop’s dividend payout ratio is 38.43%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WING shares. Raymond James raised Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Thursday, August 1st. Barclays boosted their price objective on Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Morgan Stanley boosted their price objective on Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, July 16th. Truist Financial boosted their price objective on Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Stephens reaffirmed an “overweight” rating and issued a $475.00 price target on shares of Wingstop in a report on Wednesday, August 14th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $382.00.

Insider Activity

In related news, SVP Donnie Upshaw sold 3,199 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $372.71, for a total value of $1,192,299.29. Following the sale, the senior vice president now owns 97 shares in the company, valued at approximately $36,152.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.36% of the company’s stock.

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.