Praxis Investment Management Inc. Sells 260 Shares of Wingstop Inc. $WING

Praxis Investment Management Inc. decreased its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 16.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,310 shares of the restaurant operator’s stock after selling 260 shares during the period. Praxis Investment Management Inc.’s holdings in Wingstop were worth $441,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WING. Signaturefd LLC boosted its position in shares of Wingstop by 106.9% during the 1st quarter. Signaturefd LLC now owns 149 shares of the restaurant operator’s stock valued at $34,000 after purchasing an additional 77 shares in the last quarter. Ameriflex Group Inc. acquired a new position in Wingstop during the 2nd quarter worth approximately $43,000. Geneos Wealth Management Inc. raised its stake in Wingstop by 121.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock worth $49,000 after buying an additional 119 shares during the period. Parallel Advisors LLC raised its stake in Wingstop by 22.3% during the 2nd quarter. Parallel Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $61,000 after buying an additional 33 shares during the period. Finally, National Bank of Canada FI acquired a new position in Wingstop during the 1st quarter worth approximately $70,000.

Insider Activity at Wingstop

In related news, CFO Alex Kaleida sold 5,400 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $376.09, for a total transaction of $2,030,886.00. Following the completion of the sale, the chief financial officer directly owned 8,362 shares of the company’s stock, valued at approximately $3,144,864.58. This trade represents a 39.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Marisa Carona sold 11,938 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $370.34, for a total value of $4,421,118.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,838 shares of company stock valued at $8,118,535. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on WING. Guggenheim upped their price target on Wingstop from $325.00 to $410.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Piper Sandler began coverage on Wingstop in a research note on Wednesday, July 9th. They set an “overweight” rating on the stock. Melius began coverage on Wingstop in a research note on Monday, July 14th. They set a “hold” rating and a $350.00 price target on the stock. Wells Fargo & Company dropped their price target on Wingstop from $415.00 to $365.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Wall Street Zen downgraded Wingstop from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $366.73.

Wingstop Trading Up 4.4%

Shares of WING opened at $257.04 on Friday. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 42.84, a PEG ratio of 3.26 and a beta of 1.78. The stock has a 50 day moving average of $286.20 and a 200 day moving average of $298.92. Wingstop Inc. has a 12 month low of $204.00 and a 12 month high of $388.14.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.12. The company had revenue of $174.33 million during the quarter, compared to the consensus estimate of $172.60 million. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.Wingstop’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the business posted $0.93 earnings per share. As a group, equities research analysts predict that Wingstop Inc. will post 4.18 earnings per share for the current year.

Wingstop Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Wingstop’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.5%. Wingstop’s dividend payout ratio (DPR) is 20.00%.

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.