PNC Financial Services Group Inc. Trims Stock Holdings in Wingstop Inc. (NASDAQ:WING)

PNC Financial Services Group Inc. decreased its position in Wingstop Inc. (NASDAQ:WINGFree Report) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,382 shares of the restaurant operator’s stock after selling 39 shares during the period. PNC Financial Services Group Inc.’s holdings in Wingstop were worth $868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Wingstop during the 4th quarter valued at about $28,000. FSC Wealth Advisors LLC purchased a new position in shares of Wingstop during the 4th quarter valued at about $39,000. Headlands Technologies LLC purchased a new position in shares of Wingstop during the 3rd quarter valued at about $38,000. SRS Capital Advisors Inc. raised its stake in shares of Wingstop by 323.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 233 shares of the restaurant operator’s stock valued at $60,000 after buying an additional 178 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Wingstop by 16.9% during the 4th quarter. Quadrant Capital Group LLC now owns 263 shares of the restaurant operator’s stock valued at $67,000 after buying an additional 38 shares during the last quarter.

Analysts Set New Price Targets

WING has been the subject of a number of recent research reports. Robert W. Baird lifted their price objective on Wingstop from $390.00 to $405.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Citigroup raised their target price on Wingstop from $375.00 to $398.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Stifel Nicolaus raised their target price on Wingstop from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Morgan Stanley raised their target price on Wingstop from $280.00 to $315.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. Finally, Barclays raised their target price on Wingstop from $350.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Wingstop presently has an average rating of “Hold” and a consensus target price of $330.39.

Get Our Latest Report on WING

Wingstop Price Performance

Shares of Wingstop stock opened at $385.97 on Friday. The stock has a market cap of $11.31 billion, a P/E ratio of 137.36, a P/E/G ratio of 4.96 and a beta of 1.67. The stock’s 50 day simple moving average is $374.05 and its 200-day simple moving average is $313.99. Wingstop Inc. has a 1-year low of $150.08 and a 1-year high of $400.99.

Wingstop (NASDAQ:WINGGet Free Report) last issued its earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.22. The business had revenue of $145.70 million for the quarter, compared to analysts’ expectations of $136.34 million. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. As a group, research analysts expect that Wingstop Inc. will post 3.39 EPS for the current fiscal year.

Wingstop Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Thursday, May 16th. Wingstop’s payout ratio is presently 31.32%.

Insider Activity

In other news, SVP Marisa Carona sold 2,586 shares of Wingstop stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $371.96, for a total transaction of $961,888.56. Following the sale, the senior vice president now owns 1,646 shares of the company’s stock, valued at approximately $612,246.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Kate S. Lavelle sold 750 shares of Wingstop stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $394.57, for a total transaction of $295,927.50. Following the sale, the director now owns 3,567 shares of the company’s stock, valued at approximately $1,407,431.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Marisa Carona sold 2,586 shares of Wingstop stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $371.96, for a total transaction of $961,888.56. Following the sale, the senior vice president now directly owns 1,646 shares in the company, valued at approximately $612,246.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,132 shares of company stock valued at $3,150,183. 0.36% of the stock is currently owned by company insiders.

About Wingstop

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Wingstop (NASDAQ:WING)

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