Sequoia Financial Advisors LLC Invests $315,000 in Wingstop Inc. $WING

Sequoia Financial Advisors LLC bought a new position in Wingstop Inc. (NASDAQ:WING) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 934 shares of the restaurant operator’s stock, valued at approximately $315,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. purchased a new position in shares of Wingstop in the 2nd quarter worth approximately $43,000. Signaturefd LLC boosted its holdings in Wingstop by 106.9% during the 1st quarter. Signaturefd LLC now owns 149 shares of the restaurant operator’s stock valued at $34,000 after acquiring an additional 77 shares during the period. Parallel Advisors LLC boosted its holdings in Wingstop by 22.3% during the 2nd quarter. Parallel Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $61,000 after acquiring an additional 33 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Wingstop by 121.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after acquiring an additional 119 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Wingstop by 16.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 223 shares of the restaurant operator’s stock valued at $75,000 after acquiring an additional 32 shares during the period.

Insider Transactions at Wingstop

In related news, SVP Marisa Carona sold 11,938 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $370.34, for a total transaction of $4,421,118.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Alex Kaleida sold 5,400 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $376.09, for a total value of $2,030,886.00. Following the transaction, the chief financial officer directly owned 8,362 shares in the company, valued at $3,144,864.58. This represents a 39.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,838 shares of company stock valued at $8,118,535. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on WING. Stephens restated an “overweight” rating and set a $375.00 price objective on shares of Wingstop in a report on Monday. Melius began coverage on Wingstop in a report on Monday, July 14th. They set a “hold” rating and a $350.00 price objective for the company. BMO Capital Markets boosted their price objective on Wingstop from $275.00 to $345.00 and gave the company a “market perform” rating in a report on Thursday, July 31st. Stifel Nicolaus dropped their price objective on Wingstop from $405.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, September 9th. Finally, Citigroup boosted their price objective on Wingstop from $296.00 to $321.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $362.50.

Wingstop Trading Down 1.5%

WING opened at $262.89 on Thursday. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of 43.82, a PEG ratio of 3.40 and a beta of 1.78. Wingstop Inc. has a 12 month low of $204.00 and a 12 month high of $388.14. The stock has a fifty day moving average price of $281.64 and a 200-day moving average price of $298.99.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 EPS for the quarter, topping the consensus estimate of $0.88 by $0.12. The firm had revenue of $174.33 million during the quarter, compared to analyst estimates of $172.60 million. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 EPS. On average, equities research analysts forecast that Wingstop Inc. will post 4.18 EPS for the current year.

Wingstop Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Wingstop’s previous quarterly dividend of $0.27. Wingstop’s dividend payout ratio is presently 20.00%.

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.