Comerica Bank Grows Stock Position in Wingstop Inc. (NASDAQ:WING)

Comerica Bank increased its stake in shares of Wingstop Inc. (NASDAQ:WING) by 19.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,204 shares of the restaurant operator’s stock after acquiring an additional 8,674 shares during the period. Comerica Bank owned about 0.18% of Wingstop worth $19,128,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of WING. Rise Advisors LLC purchased a new position in Wingstop during the first quarter worth approximately $29,000. GAMMA Investing LLC lifted its position in shares of Wingstop by 53.3% during the 1st quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock valued at $42,000 after buying an additional 40 shares in the last quarter. Riverview Trust Co acquired a new stake in Wingstop in the 1st quarter valued at $66,000. C M Bidwell & Associates Ltd. acquired a new position in Wingstop during the fourth quarter worth $47,000. Finally, SRS Capital Advisors Inc. lifted its holdings in Wingstop by 323.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 233 shares of the restaurant operator’s stock valued at $60,000 after purchasing an additional 178 shares in the last quarter.

Analyst Upgrades and Downgrades

WING has been the subject of several research reports. Morgan Stanley boosted their price objective on Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 16th. Wedbush reiterated an “outperform” rating and set a $425.00 price target on shares of Wingstop in a research report on Thursday. Raymond James raised shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research note on Thursday. TD Cowen reissued a “buy” rating and issued a $450.00 price target on shares of Wingstop in a research note on Wednesday. Finally, Stifel Nicolaus boosted their target price on Wingstop from $420.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $358.32.

Insider Activity at Wingstop

In other Wingstop news, Director Kate S. Lavelle sold 750 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $394.57, for a total transaction of $295,927.50. Following the sale, the director now directly owns 3,567 shares in the company, valued at approximately $1,407,431.19. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Albert G. Mcgrath sold 4,230 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $396.40, for a total transaction of $1,676,772.00. Following the completion of the transaction, the senior vice president now directly owns 8,170 shares of the company’s stock, valued at approximately $3,238,588. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kate S. Lavelle sold 750 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $394.57, for a total value of $295,927.50. Following the completion of the sale, the director now directly owns 3,567 shares in the company, valued at approximately $1,407,431.19. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,191 shares of company stock worth $2,443,547. Corporate insiders own 0.36% of the company’s stock.

Wingstop Stock Down 4.1 %

NASDAQ:WING traded down $15.30 during trading hours on Friday, reaching $356.36. 173,290 shares of the stock were exchanged, compared to its average volume of 462,447. Wingstop Inc. has a twelve month low of $150.08 and a twelve month high of $431.03. The business has a 50-day moving average of $394.38 and a two-hundred day moving average of $360.69. The company has a market capitalization of $10.44 billion, a price-to-earnings ratio of 128.60, a PEG ratio of 4.26 and a beta of 1.69.

Wingstop (NASDAQ:WING) last posted its earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.11. The firm had revenue of $155.70 million for the quarter, compared to analyst estimates of $146.04 million. Wingstop had a negative return on equity of 20.97% and a net margin of 17.33%. Wingstop’s revenue was up 45.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. On average, research analysts forecast that Wingstop Inc. will post 3.47 EPS for the current fiscal year.

Wingstop Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be paid a $0.27 dividend. This is a positive change from Wingstop’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.08 annualized dividend and a dividend yield of 0.30%. Wingstop’s dividend payout ratio (DPR) is presently 31.32%.

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.