Zevenbergen Capital Investments LLC Sells 22,457 Shares of Wingstop Inc. $WING

Zevenbergen Capital Investments LLC reduced its stake in Wingstop Inc. (NASDAQ:WING) by 14.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,055 shares of the restaurant operator’s stock after selling 22,457 shares during the quarter. Zevenbergen Capital Investments LLC owned about 0.46% of Wingstop worth $30,778,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in WING. Cornerstone Planning Group LLC raised its stake in Wingstop by 1,650.0% during the third quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 99 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in Wingstop by 54.3% in the third quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock worth $36,000 after acquiring an additional 50 shares in the last quarter. Pinnacle Holdings LLC purchased a new stake in shares of Wingstop in the third quarter worth $47,000. Geneos Wealth Management Inc. grew its stake in shares of 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 acquiring an additional 119 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Wingstop by 75.9% during the third quarter. Smartleaf Asset Management LLC now owns 204 shares of the restaurant operator’s stock valued at $51,000 after acquiring an additional 88 shares in the last quarter.

Analysts Set New Price Targets

WING has been the topic of a number of analyst reports. Citigroup upped their price target on shares of Wingstop from $267.00 to $286.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. TD Cowen reaffirmed a “hold” rating and issued a $285.00 target price on shares of Wingstop in a report on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Wingstop in a research note on Friday. The Goldman Sachs Group reissued a “buy” rating and set a $335.00 price target on shares of Wingstop in a research report on Wednesday, February 18th. Finally, Morgan Stanley decreased their price objective on shares of Wingstop from $363.00 to $345.00 and set an “overweight” rating for the company in a report on Tuesday, January 20th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Wingstop presently has an average rating of “Moderate Buy” and an average target price of $332.55.

Wingstop Stock Performance

Shares of NASDAQ:WING opened at $154.64 on Tuesday. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 1.69 and a beta of 1.82. The business has a 50-day simple moving average of $235.23 and a two-hundred day simple moving average of $246.00. Wingstop Inc. has a fifty-two week low of $153.11 and a fifty-two week high of $388.14.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.16. Wingstop had a net margin of 25.01% and a negative return on equity of 16.12%. The firm had revenue of $175.69 million for the quarter, compared to the consensus estimate of $177.74 million. During the same quarter last year, the firm posted $0.92 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts predict that Wingstop Inc. will post 4.18 earnings per share for the current year.

Wingstop Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were issued a $0.30 dividend. The ex-dividend date was Friday, March 6th. This represents a $1.20 annualized dividend and a yield of 0.8%. Wingstop’s dividend payout ratio (DPR) is currently 19.42%.

Insider Activity at Wingstop

In other news, Director Wesley S. Mcdonald sold 566 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $250.00, for a total transaction of $141,500.00. Following the transaction, the director directly owned 4,375 shares of the company’s stock, valued at $1,093,750. This represents a 11.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kilandigalu Madati sold 2,700 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $260.73, for a total value of $703,971.00. Following the completion of the transaction, the director owned 2,583 shares in the company, valued at approximately $673,465.59. This trade represents a 51.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.72% of the company’s stock.

Wingstop Profile

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.