Wingstop Inc. (NASDAQ:WING) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can grew its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 49.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,495 shares of the restaurant operator’s stock after purchasing an additional 16,712 shares during the period. Bank of Montreal Can owned 0.17% of Wingstop worth $21,543,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Wingstop by 3.7% in the first quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock worth $1,071,473,000 after buying an additional 104,780 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Wingstop by 4.7% in 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 purchasing an additional 101,917 shares during the last quarter. Renaissance Technologies LLC boosted its stake 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 purchasing an additional 161,600 shares during the period. Massachusetts Financial Services Co. MA grew its position in Wingstop by 2.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 600,905 shares of the restaurant operator’s stock worth $253,979,000 after purchasing an additional 16,526 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of Wingstop by 11.1% in the first quarter. 1832 Asset Management L.P. now owns 340,400 shares of the restaurant operator’s stock valued at $124,723,000 after purchasing an additional 34,000 shares during the period.

Wingstop Price Performance

Shares of WING opened at $411.44 on Friday. Wingstop Inc. has a one year low of $170.83 and a one year high of $433.86. The company has a 50-day moving average of $386.73 and a two-hundred day moving average of $383.55. The stock has a market cap of $12.06 billion, a price-to-earnings ratio of 146.42, a PEG ratio of 4.26 and a beta of 1.71.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.11. The firm had revenue of $155.70 million for the quarter, compared to analysts’ expectations of $146.04 million. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The company’s quarterly revenue was up 45.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 EPS. Analysts anticipate that Wingstop Inc. will post 3.78 earnings per share for the current year.

Wingstop Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.26%. The ex-dividend date was Friday, August 16th. This is a boost from Wingstop’s previous quarterly dividend of $0.22. Wingstop’s payout ratio is 38.43%.

Insider Activity

In related news, SVP Donnie Upshaw sold 3,199 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were 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 directly owns 97 shares of the company’s stock, valued at $36,152.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WING. Piper Sandler increased their price objective on Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Wedbush raised their price target on Wingstop from $425.00 to $440.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Stifel Nicolaus raised their target price on shares of Wingstop from $420.00 to $460.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. TD Cowen reissued a “buy” rating and set a $450.00 target price on shares of Wingstop in a report on Wednesday, July 31st. Finally, Raymond James upgraded Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Thursday, August 1st. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Wingstop currently has a consensus rating of “Hold” and a consensus target price of $379.53.

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.