Citigroup Inc. Decreases Holdings in Wingstop Inc. $WING

Citigroup Inc. cut its stake in Wingstop Inc. (NASDAQ:WING) by 27.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,831 shares of the restaurant operator’s stock after selling 4,932 shares during the quarter. Citigroup Inc.’s holdings in Wingstop were worth $3,229,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Wingstop in the second quarter valued at about $118,211,000. Wasatch Advisors LP acquired a new stake in Wingstop in the second quarter valued at approximately $114,758,000. Artisan Partners Limited Partnership raised its stake in shares of Wingstop by 83.1% during the second quarter. Artisan Partners Limited Partnership now owns 737,369 shares of the restaurant operator’s stock valued at $248,302,000 after purchasing an additional 334,583 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Wingstop by 50.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 949,033 shares of the restaurant operator’s stock valued at $238,853,000 after purchasing an additional 316,328 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Wingstop by 23.3% during the second quarter. American Century Companies Inc. now owns 1,557,383 shares of the restaurant operator’s stock worth $524,433,000 after purchasing an additional 294,786 shares in the last quarter.

Insider Buying and Selling

In other news, Director Wesley S. Mcdonald sold 566 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $250.00, for a total transaction of $141,500.00. Following the completion of the transaction, the director owned 4,375 shares of the company’s stock, valued at approximately $1,093,750. This trade represents a 11.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kilandigalu Madati sold 2,700 shares of Wingstop stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $260.73, for a total transaction of $703,971.00. Following the transaction, the director owned 2,583 shares in the company, valued at approximately $673,465.59. This trade represents a 51.11% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

WING has been the topic of several analyst reports. BTIG Research reaffirmed a “buy” rating and set a $400.00 price target on shares of Wingstop in a research note on Thursday, February 19th. Truist Financial set a $374.00 target price on Wingstop and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Morgan Stanley reduced their price target on Wingstop from $363.00 to $345.00 and set an “overweight” rating for the company in a report on Tuesday, January 20th. Loop Capital initiated coverage on Wingstop in a research note on Friday, January 9th. They set a “buy” rating and a $317.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on Wingstop from $290.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $336.07.

Wingstop Trading Down 1.2%

WING opened at $236.46 on Friday. The company has a market cap of $6.50 billion, a P/E ratio of 38.26, a PEG ratio of 2.62 and a beta of 1.82. The company’s 50 day moving average is $259.91 and its 200-day moving average is $262.11. Wingstop Inc. has a 1-year low of $204.00 and a 1-year high of $388.14.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.16. Wingstop had a net margin of 25.01% and a negative return on equity of 16.12%. The firm had revenue of $175.69 million for the quarter, compared to analyst estimates of $177.74 million. During the same quarter last year, the business posted $0.92 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Wingstop Inc. will post 4.18 EPS for the current year.

Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.20 annualized dividend and a dividend yield of 0.5%. Wingstop’s dividend payout ratio is currently 19.42%.

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.