M&T Bank Corp Sells 103 Shares of Wingstop Inc. (NASDAQ:WING)

M&T Bank Corp reduced its position in Wingstop Inc. (NASDAQ:WING) by 9.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 996 shares of the restaurant operator’s stock after selling 103 shares during the period. M&T Bank Corp’s holdings in Wingstop were worth $225,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Counselors Inc. bought a new stake in Wingstop in the 1st quarter valued at about $3,703,000. YANKCOM Partnership bought a new stake in shares of Wingstop during the first quarter valued at about $83,000. Envestnet Asset Management Inc. increased its position in shares of Wingstop by 0.7% during the first quarter. Envestnet Asset Management Inc. now owns 74,770 shares of the restaurant operator’s stock valued at $16,867,000 after buying an additional 556 shares during the period. Principal Financial Group Inc. increased its position in shares of Wingstop by 16.7% during the first quarter. Principal Financial Group Inc. now owns 79,225 shares of the restaurant operator’s stock valued at $17,872,000 after buying an additional 11,329 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Wingstop by 1.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 6,023 shares of the restaurant operator’s stock valued at $1,359,000 after buying an additional 65 shares during the period.

Wingstop Price Performance

Shares of WING opened at $329.34 on Friday. The firm has a market cap of $9.19 billion, a P/E ratio of 55.17, a P/E/G ratio of 4.59 and a beta of 1.84. The stock has a 50 day simple moving average of $338.18 and a two-hundred day simple moving average of $282.97. Wingstop Inc. has a 1 year low of $204.00 and a 1 year high of $433.86.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.15. Wingstop had a negative return on equity of 18.85% and a net margin of 26.45%. The business had revenue of $171.09 million during the quarter, compared to analyst estimates of $172.25 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Wingstop’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities analysts anticipate that Wingstop Inc. will post 4.18 earnings per share for the current year.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.08 annualized dividend and a yield of 0.33%. Wingstop’s payout ratio is currently 18.09%.

Insider Activity at Wingstop

In other Wingstop news, CEO Michael Skipworth sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $337.34, for a total value of $3,373,400.00. Following the completion of the sale, the chief executive officer owned 47,190 shares in the company, valued at approximately $15,919,074.60. The trade was a 17.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Raj Kapoor sold 637 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president owned 517 shares of the company’s stock, valued at $141,177.19. The trade was a 55.20% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WING shares. Wells Fargo & Company upped their price target on Wingstop from $320.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. BTIG Research upped their price target on Wingstop from $350.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, June 11th. Cowen reiterated a “buy” rating on shares of Wingstop in a research report on Thursday, May 1st. Truist Financial upgraded Wingstop from a “hold” rating to a “buy” rating and upped their price target for the company from $274.00 to $400.00 in a research report on Tuesday, May 27th. Finally, Jefferies Financial Group upgraded Wingstop from a “hold” rating to a “buy” rating and set a $270.00 price target on the stock in a research report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $355.80.

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.