Securian Asset Management Inc. Trims Position in Wingstop Inc. (NASDAQ:WING)

Securian Asset Management Inc. trimmed its holdings in Wingstop Inc. (NASDAQ:WING) by 4.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,339 shares of the restaurant operator’s stock after selling 100 shares during the period. Securian Asset Management Inc.’s holdings in Wingstop were worth $989,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. SG Americas Securities LLC lifted its position in Wingstop by 177.0% in the second quarter. SG Americas Securities LLC now owns 4,917 shares of the restaurant operator’s stock valued at $2,078,000 after purchasing an additional 3,142 shares during the period. Worth Asset Management LLC purchased a new position in shares of Wingstop during the 2nd quarter worth approximately $225,000. CWM LLC increased its stake in shares of Wingstop by 206.6% during the 2nd quarter. CWM LLC now owns 2,287 shares of the restaurant operator’s stock worth $967,000 after purchasing an additional 1,541 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of Wingstop by 11.8% during the 2nd quarter. Park Avenue Securities LLC now owns 2,978 shares of the restaurant operator’s stock worth $1,259,000 after purchasing an additional 315 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Wingstop by 238.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,028 shares of the restaurant operator’s stock worth $3,816,000 after purchasing an additional 6,359 shares in the last quarter.

Insider Activity at Wingstop

In other news, Director Ania Smith sold 566 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $380.91, for a total transaction of $215,595.06. Following the completion of the transaction, the director now owns 1,164 shares of the company’s stock, valued at $443,379.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ania Smith sold 566 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $380.91, for a total value of $215,595.06. Following the completion of the sale, the director now directly owns 1,164 shares in the company, valued at $443,379.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kilandigalu Madati sold 645 shares of Wingstop stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $395.74, for a total value of $255,252.30. Following the completion of the sale, the director now owns 5,147 shares of the company’s stock, valued at $2,036,873.78. The disclosure for this sale can be found here. Insiders sold a total of 4,410 shares of company stock worth $1,663,147 in the last 90 days. 0.36% of the stock is owned by company insiders.

Wingstop Stock Up 0.1 %

Shares of WING stock traded up $0.41 during trading hours on Monday, reaching $371.89. 202,572 shares of the stock traded hands, compared to its average volume of 462,873. Wingstop Inc. has a 1-year low of $150.08 and a 1-year high of $431.03. The business has a fifty day moving average price of $391.89 and a 200 day moving average price of $365.71. The firm has a market capitalization of $10.90 billion, a PE ratio of 132.73, a PEG ratio of 3.79 and a beta of 1.70.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, beating the consensus estimate of $0.82 by $0.11. The company had revenue of $155.70 million for the quarter, compared to the consensus estimate of $146.04 million. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. The company’s revenue for the quarter was up 45.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 earnings per share. Research analysts expect that Wingstop Inc. will post 3.7 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, August 16th. This is a boost from Wingstop’s previous quarterly dividend of $0.22. Wingstop’s payout ratio is currently 31.32%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WING. Morgan Stanley raised their price objective on shares of Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 16th. Jefferies Financial Group lifted their target price on shares of Wingstop from $310.00 to $335.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Stephens reaffirmed an “overweight” rating and issued a $456.00 target price on shares of Wingstop in a research note on Wednesday, July 31st. Barclays lifted their target price on shares of Wingstop from $418.00 to $425.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, TD Cowen reaffirmed a “buy” rating and issued a $450.00 target price on shares of Wingstop in a research note on Wednesday, July 31st. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Wingstop has a consensus rating of “Hold” and a consensus price target of $377.53.

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.