CIBC Bancorp USA Inc. Makes New $10.76 Million Investment in Wingstop Inc. $WING

CIBC Bancorp USA Inc. bought a new stake in shares of Wingstop Inc. (NASDAQ:WING) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 42,739 shares of the restaurant operator’s stock, valued at approximately $10,757,000. CIBC Bancorp USA Inc. owned approximately 0.15% of Wingstop as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WING. Cornerstone Planning Group LLC increased its stake in shares of Wingstop by 1,650.0% during the third quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 99 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings in shares of Wingstop by 54.3% in the third quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 50 shares in the last quarter. Pinnacle Holdings LLC purchased a new stake in Wingstop in the third quarter worth about $47,000. Smartleaf Asset Management LLC lifted its stake in Wingstop by 75.9% in the third quarter. Smartleaf Asset Management LLC now owns 204 shares of the restaurant operator’s stock worth $51,000 after acquiring an additional 88 shares during the period. Finally, Geneos Wealth Management Inc. grew 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 worth $49,000 after acquiring an additional 119 shares in the last quarter.

Wingstop Stock Performance

Shares of WING stock opened at $187.29 on Friday. Wingstop Inc. has a fifty-two week low of $184.15 and a fifty-two week high of $388.14. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 2.09 and a beta of 1.82. The stock’s 50-day simple moving average is $250.40 and its 200-day simple moving average is $253.42.

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

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. Wingstop’s dividend payout ratio (DPR) is currently 19.42%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. DA Davidson began coverage on shares of Wingstop in a research report on Friday, March 6th. They set a “buy” rating and a $330.00 target price on the stock. Loop Capital initiated coverage on shares of Wingstop in a research report on Friday, January 9th. They issued a “buy” rating and a $317.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Wingstop in a research note on Monday, December 29th. Mizuho cut their price objective on shares of Wingstop from $320.00 to $310.00 and set an “outperform” rating on the stock in a report on Friday, January 9th. Finally, TD Cowen reissued a “hold” rating and issued a $285.00 price objective on shares of Wingstop in a research note on Wednesday, February 18th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $337.29.

Insiders Place Their Bets

In other news, Director Kilandigalu Madati sold 2,700 shares of Wingstop stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $260.73, for a total transaction of $703,971.00. Following the completion of the sale, the director directly owned 2,583 shares in the company, valued at approximately $673,465.59. The trade was a 51.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Wesley S. Mcdonald sold 566 shares of the business’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 sale, the director directly owned 4,375 shares in the company, valued at $1,093,750. This trade represents a 11.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.72% of the company’s stock.

Wingstop 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.