Whittier Trust Co. of Nevada Inc. Sells 11,823 Shares of Wingstop Inc. $WING

Whittier Trust Co. of Nevada Inc. cut its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 96.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 406 shares of the restaurant operator’s stock after selling 11,823 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Wingstop were worth $69,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in WING. Baird Financial Group Inc. purchased a new stake in shares of Wingstop in the 1st quarter valued at $256,000. Jones Financial Companies Lllp raised its position in Wingstop by 2,770.6% in the 1st quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator’s stock worth $440,000 after purchasing an additional 1,884 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Wingstop by 5.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,439 shares of the restaurant operator’s stock worth $20,852,000 after purchasing an additional 4,937 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Wingstop by 121.4% in the first quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock worth $49,000 after purchasing an additional 119 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its stake in Wingstop by 45.5% in the second quarter. Sivia Capital Partners LLC now owns 1,387 shares of the restaurant operator’s stock worth $467,000 after purchasing an additional 434 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. TD Cowen reaffirmed a “hold” rating on shares of Wingstop in a research note on Wednesday, July 29th. Citigroup lowered their target price on Wingstop from $237.00 to $208.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Benchmark dropped their target price on Wingstop from $285.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Sanford C. Bernstein cut Wingstop from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $220.00 to $155.00 in a report on Monday, August 3rd. Finally, Morgan Stanley reduced their price target on Wingstop from $255.00 to $238.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.81.

Wingstop Stock Performance

WING opened at $113.90 on Friday. The stock has a market capitalization of $3.10 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 1.33 and a beta of 1.81. The stock’s 50 day moving average price is $146.48 and its 200-day moving average price is $177.83. Wingstop Inc. has a 52-week low of $110.44 and a 52-week high of $345.81.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.16. The business had revenue of $185.56 million for the quarter, compared to analysts’ expectations of $190.25 million. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.00 earnings per share. Research analysts forecast that Wingstop Inc. will post 4.5 EPS for the current fiscal year.

Wingstop Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, September 5th. Stockholders of record on Saturday, August 15th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Wingstop’s previous quarterly dividend of $0.30. Wingstop’s payout ratio is presently 28.50%.

About Wingstop

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.