Raymond James Financial Services Advisors Inc. Sells 118 Shares of Wingstop Inc. (NASDAQ:WING)

Raymond James Financial Services Advisors Inc. cut its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 3.7% during the 4th quarter, Holdings Channel reports. The firm owned 3,080 shares of the restaurant operator’s stock after selling 118 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Wingstop were worth $790,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Legato Capital Management LLC increased its holdings in shares of Wingstop by 5.6% during the fourth quarter. Legato Capital Management LLC now owns 1,605 shares of the restaurant operator’s stock worth $412,000 after purchasing an additional 85 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in Wingstop by 4.9% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 12,014 shares of the restaurant operator’s stock valued at $3,082,000 after acquiring an additional 561 shares during the last quarter. Whittier Trust Co. increased its stake in Wingstop by 2.6% in the fourth quarter. Whittier Trust Co. now owns 23,410 shares of the restaurant operator’s stock valued at $6,006,000 after acquiring an additional 597 shares during the last quarter. Worth Asset Management LLC bought a new position in Wingstop in the fourth quarter valued at approximately $257,000. Finally, Teachers Retirement System of The State of Kentucky increased its stake in Wingstop by 34.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 20,628 shares of the restaurant operator’s stock valued at $3,710,000 after acquiring an additional 5,331 shares during the last quarter.

Insider Buying and Selling

In related news, CEO Michael Skipworth sold 10,843 shares of Wingstop stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the completion of the transaction, the chief executive officer now owns 17,107 shares of the company’s stock, valued at $5,771,901.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Wingstop news, SVP Marisa Carona sold 2,586 shares of Wingstop stock in a transaction on Friday, March 8th. The shares were sold at an average price of $371.96, for a total value of $961,888.56. Following the completion of the sale, the senior vice president now directly owns 1,646 shares of the company’s stock, valued at $612,246.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Skipworth sold 10,843 shares of Wingstop stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the completion of the sale, the chief executive officer now directly owns 17,107 shares of the company’s stock, valued at $5,771,901.80. The disclosure for this sale can be found here. Insiders sold 14,901 shares of company stock valued at $5,120,605 over the last quarter. Insiders own 0.36% of the company’s stock.

Wingstop Stock Performance

Shares of NASDAQ:WING opened at $370.67 on Wednesday. The firm has a market cap of $10.89 billion, a PE ratio of 157.73, a price-to-earnings-growth ratio of 6.48 and a beta of 1.68. The firm’s fifty day moving average is $344.96 and its 200-day moving average is $271.99. Wingstop Inc. has a 52 week low of $150.08 and a 52 week high of $379.00.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $127.06 million for the quarter, compared to analyst estimates of $120.47 million. Wingstop had a net margin of 15.25% and a negative return on equity of 17.66%. Wingstop’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share. Sell-side analysts forecast that Wingstop Inc. will post 3 EPS for the current year.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date was Thursday, March 7th. Wingstop’s dividend payout ratio is presently 37.45%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Wingstop in a research note on Wednesday, February 14th. They issued an “outperform” rating and a $340.00 price objective on the stock. Robert W. Baird lifted their price objective on shares of Wingstop from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. TD Cowen reissued a “buy” rating and issued a $410.00 price objective on shares of Wingstop in a research note on Wednesday, April 10th. Truist Financial restated a “hold” rating and issued a $292.00 target price on shares of Wingstop in a research report on Monday, April 1st. Finally, Wedbush raised their target price on shares of Wingstop from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $281.00.

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.