Precision Wealth Strategies LLC Cuts Stock Position in Wingstop Inc. (NASDAQ:WING)

Precision Wealth Strategies LLC lessened its position in Wingstop Inc. (NASDAQ:WING) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,062 shares of the restaurant operator’s stock after selling 36 shares during the quarter. Precision Wealth Strategies LLC’s holdings in Wingstop were worth $442,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Copeland Capital Management LLC increased its holdings in Wingstop by 0.9% during the 3rd quarter. Copeland Capital Management LLC now owns 230,510 shares of the restaurant operator’s stock worth $95,911,000 after purchasing an additional 1,979 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Wingstop by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 183,044 shares of the restaurant operator’s stock worth $76,161,000 after purchasing an additional 950 shares during the period. Raymond James & Associates increased its holdings in Wingstop by 104.0% during the 3rd quarter. Raymond James & Associates now owns 49,908 shares of the restaurant operator’s stock worth $20,766,000 after purchasing an additional 25,440 shares during the period. Blue Trust Inc. increased its holdings in Wingstop by 384.6% during the 3rd quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock worth $53,000 after purchasing an additional 100 shares during the period. Finally, Claro Advisors LLC purchased a new stake in Wingstop during the 3rd quarter worth about $245,000.

Insiders Place Their Bets

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the completion of the transaction, the senior vice president now owns 97 shares of the company’s stock, valued at approximately $36,152.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.36% of the stock is currently owned by company insiders.

Wingstop Price Performance

NASDAQ WING opened at $368.44 on Tuesday. Wingstop Inc. has a 1-year low of $173.74 and a 1-year high of $433.86. The company has a market capitalization of $10.80 billion, a P/E ratio of 131.12, a PEG ratio of 3.69 and a beta of 1.71. The business has a 50 day moving average price of $396.04 and a 200 day moving average price of $388.63.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. The firm had revenue of $155.70 million during 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%. Wingstop’s quarterly revenue was up 45.3% on a year-over-year basis. During the same period last year, the business posted $0.57 EPS. On average, research analysts expect that Wingstop Inc. will post 3.79 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were given a dividend of $0.27 per share. This is an increase from Wingstop’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.08 annualized dividend and a yield of 0.29%. Wingstop’s dividend payout ratio (DPR) is presently 38.43%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Stephens restated an “overweight” rating and set a $475.00 price target on shares of Wingstop in a report on Wednesday, August 14th. BMO Capital Markets upped their price target on Wingstop from $345.00 to $360.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Raymond James raised Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Thursday, August 1st. The Goldman Sachs Group upped their price objective on Wingstop from $407.00 to $458.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley increased their price objective on Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 16th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $382.00.

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.