Cwm LLC Cuts Position in Wingstop Inc. (NASDAQ:WING)

Cwm LLC lessened its position in shares of Wingstop Inc. (NASDAQ:WING) by 9.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,518 shares of the restaurant operator’s stock after selling 383 shares during the quarter. Cwm LLC’s holdings in Wingstop were worth $794,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WING. MassMutual Private Wealth & Trust FSB boosted its holdings in Wingstop by 93.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 62 shares during the period. True Wealth Design LLC boosted its holdings in Wingstop by 62.1% during the 4th quarter. True Wealth Design LLC now owns 141 shares of the restaurant operator’s stock valued at $40,000 after acquiring an additional 54 shares during the period. Quarry LP purchased a new position in Wingstop during the 4th quarter valued at $41,000. Aster Capital Management DIFC Ltd purchased a new position in Wingstop during the 4th quarter valued at $49,000. Finally, UMB Bank n.a. boosted its holdings in Wingstop by 280.3% during the 1st quarter. UMB Bank n.a. now owns 270 shares of the restaurant operator’s stock valued at $61,000 after acquiring an additional 199 shares during the period.

Insiders Place Their Bets

In other news, SVP Raj Kapoor sold 637 shares of Wingstop stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $273.07, for a total transaction of $173,945.59. Following the sale, the senior vice president owned 517 shares in the company, valued at approximately $141,177.19. The trade was a 55.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Skipworth sold 10,000 shares of Wingstop stock in a transaction dated 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 sale, the chief executive officer owned 47,190 shares in the company, valued at $15,919,074.60. This trade represents a 17.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WING. Truist Financial raised Wingstop from a “hold” rating to a “buy” rating and lifted their target price for the company from $274.00 to $400.00 in a research report on Tuesday, May 27th. Jefferies Financial Group raised Wingstop from a “hold” rating to a “buy” rating and set a $270.00 target price for the company in a research report on Monday, March 31st. BTIG Research lifted their target price on Wingstop from $350.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, June 11th. Gordon Haskett raised Wingstop to a “strong-buy” rating in a research report on Wednesday, April 30th. Finally, Sanford C. Bernstein reissued an “overweight” rating and issued a $360.00 price target on shares of Wingstop in a research report on Wednesday, May 14th. Five equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $355.80.

Wingstop Price Performance

Shares of Wingstop stock opened at $320.81 on Wednesday. The business has a 50 day simple moving average of $339.60 and a two-hundred day simple moving average of $283.33. Wingstop Inc. has a 12 month low of $204.00 and a 12 month high of $433.86. The stock has a market capitalization of $8.95 billion, a P/E ratio of 53.74, a PEG ratio of 4.35 and a beta of 1.84.

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, 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 company had revenue of $171.09 million during the quarter, compared to analyst estimates of $172.25 million. During the same period in the prior year, the business posted $0.98 earnings per share. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, research analysts anticipate that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were issued a $0.27 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.08 dividend on an annualized basis and a yield of 0.34%. 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.