EFG Asset Management North America Corp. Purchases 7,111 Shares of Wingstop Inc. $WING

EFG Asset Management North America Corp. grew its position in shares of Wingstop Inc. (NASDAQ:WING) by 115.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,297 shares of the restaurant operator’s stock after purchasing an additional 7,111 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Wingstop were worth $4,476,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Motley Fool Asset Management LLC increased its position in shares of Wingstop by 64.2% during the 2nd quarter. Motley Fool Asset Management LLC now owns 8,879 shares of the restaurant operator’s stock valued at $2,990,000 after purchasing an additional 3,471 shares during the last quarter. Amundi boosted its holdings in Wingstop by 289.2% during the 1st quarter. Amundi now owns 18,595 shares of the restaurant operator’s stock valued at $4,514,000 after acquiring an additional 13,817 shares during the period. Stephens Investment Management Group LLC boosted its holdings in Wingstop by 66.3% during the 1st quarter. Stephens Investment Management Group LLC now owns 446,601 shares of the restaurant operator’s stock valued at $100,744,000 after acquiring an additional 178,041 shares during the period. Principal Financial Group Inc. boosted its holdings in Wingstop by 16.7% during the 1st quarter. Principal Financial Group Inc. now owns 79,225 shares of the restaurant operator’s stock valued at $17,872,000 after acquiring an additional 11,329 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Wingstop by 501.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,112 shares of the restaurant operator’s stock valued at $251,000 after acquiring an additional 927 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WING shares. Wall Street Zen cut Wingstop from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Raymond James Financial restated a “strong-buy” rating and set a $350.00 target price (down from $420.00) on shares of Wingstop in a report on Thursday, October 16th. Benchmark dropped their target price on Wingstop from $410.00 to $340.00 and set a “buy” rating for the company in a report on Monday, September 29th. Stifel Nicolaus dropped their price objective on Wingstop from $375.00 to $300.00 and set a “buy” rating for the company in a report on Friday, October 31st. Finally, Piper Sandler started coverage on Wingstop in a report on Wednesday, July 9th. They issued an “overweight” rating for the company. Five research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $354.24.

Wingstop Stock Performance

NASDAQ WING opened at $237.32 on Wednesday. Wingstop Inc. has a fifty-two week low of $204.00 and a fifty-two week high of $388.14. The stock has a market cap of $6.63 billion, a P/E ratio of 39.55, a price-to-earnings-growth ratio of 2.99 and a beta of 1.73. The stock has a 50 day simple moving average of $265.40 and a two-hundred day simple moving average of $301.08.

Wingstop (NASDAQ:WING) last announced its earnings results on Tuesday, November 4th. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.18. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.The firm had revenue of $175.74 million during the quarter, compared to analyst estimates of $189.10 million. During the same quarter in the prior year, the company earned $0.88 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. Sell-side analysts predict that Wingstop Inc. will post 4.18 earnings per share for the current year.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.20 annualized dividend and a dividend yield of 0.5%. Wingstop’s dividend payout ratio is currently 20.00%.

About Wingstop

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.