Park Avenue Securities LLC Has $952,000 Holdings in Wingstop Inc. (NASDAQ:WING)

Park Avenue Securities LLC lifted its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 13.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,219 shares of the restaurant operator’s stock after buying an additional 510 shares during the period. Park Avenue Securities LLC’s holdings in Wingstop were worth $952,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WING. UMB Bank n.a. lifted its position in Wingstop by 280.3% during the first quarter. UMB Bank n.a. now owns 270 shares of the restaurant operator’s stock worth $61,000 after acquiring an additional 199 shares during the last quarter. Wedmont Private Capital bought a new stake in shares of Wingstop during the first quarter worth $269,000. Sivia Capital Partners LLC acquired a new position in shares of Wingstop during the first quarter worth $215,000. Vest Financial LLC acquired a new position in Wingstop in the first quarter valued at $798,000. Finally, Lake Street Private Wealth LLC acquired a new position in Wingstop in the first quarter valued at $205,000.

Insider Transactions at Wingstop

In other Wingstop news, SVP Raj Kapoor sold 637 shares of Wingstop stock in a transaction on Monday, May 5th. The shares were sold at an average price of $273.07, for a total value of $173,945.59. Following the completion of the transaction, the senior vice president now directly owns 517 shares of the company’s stock, valued at $141,177.19. This trade represents a 55.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Skipworth sold 10,000 shares of Wingstop stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $337.34, for a total transaction of $3,373,400.00. Following the completion of the transaction, the chief executive officer now directly owns 47,190 shares of the company’s stock, valued at $15,919,074.60. The trade was a 17.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

WING has been the subject of several recent research reports. The Goldman Sachs Group boosted their target price on shares of Wingstop from $310.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Jefferies Financial Group raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $270.00 price objective for the company in a report on Monday, March 31st. Wells Fargo & Company raised their price target on shares of Wingstop from $320.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, May 30th. Morgan Stanley lowered their price target on Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Finally, Truist Financial upgraded shares of Wingstop from a “hold” rating to a “buy” rating and boosted their price objective for the company from $274.00 to $400.00 in a research report on Tuesday, May 27th. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Wingstop presently has an average rating of “Moderate Buy” and a consensus price target of $350.96.

Wingstop Stock Performance

Shares of NASDAQ WING opened at $358.45 on Friday. The firm’s 50 day moving average price is $286.62 and its 200-day moving average price is $278.16. The company has a market cap of $10.00 billion, a PE ratio of 96.62, a P/E/G ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a 52-week low of $204.00 and a 52-week high of $433.86.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.15. Wingstop had a net margin of 17.37% and a negative return on equity of 21.59%. The company had revenue of $171.09 million for the quarter, compared to the consensus estimate of $172.25 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, analysts forecast that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.30%. Wingstop’s dividend payout ratio (DPR) is presently 18.09%.

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.