Whittier Trust Co. of Nevada Inc. Trims Stake in Wingstop Inc. $WING

Whittier Trust Co. of Nevada Inc. decreased its position in shares of Wingstop Inc. (NASDAQ:WING) by 96.7% during the second quarter, Holdings Channel reports. The fund owned 406 shares of the restaurant operator’s stock after selling 11,823 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Wingstop were worth $69,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. lifted its stake in shares of Wingstop by 76.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock valued at $33,000 after purchasing an additional 60 shares during the period. Rakuten Securities Inc. grew its stake in Wingstop by 197.9% in the fourth quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock worth $34,000 after purchasing an additional 95 shares during the period. GW&K Investment Management LLC grew its stake in Wingstop by 75.7% in the fourth quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock worth $45,000 after purchasing an additional 81 shares during the period. Harbor Investment Advisory LLC bought a new position in Wingstop in the second quarter worth $46,000. Finally, Geneos Wealth Management Inc. raised its holdings in 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 purchasing an additional 119 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on WING shares. Piper Sandler set a $173.00 price objective on Wingstop in a research report on Wednesday, July 29th. BTIG Research reduced their target price on shares of Wingstop from $305.00 to $265.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of Wingstop from a “sell” rating to a “hold” rating in a research note on Tuesday, July 14th. TD Cowen reiterated a “hold” rating on shares of Wingstop in a research note on Wednesday, July 29th. Finally, DA Davidson lowered their price target on shares of Wingstop from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $241.81.

Wingstop Stock Up 1.6%

WING stock opened at $113.90 on Friday. Wingstop Inc. has a twelve month low of $110.44 and a twelve month high of $345.81. The firm has a market cap of $3.10 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 1.33 and a beta of 1.81. The business has a 50 day moving average of $146.48 and a 200 day moving average of $177.83.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.The business had revenue of $185.56 million during the quarter, compared to analysts’ expectations of $190.25 million. During the same quarter in the previous year, the business earned $1.00 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts expect that Wingstop Inc. will post 4.5 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 5th. Stockholders of record on Saturday, August 15th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, August 14th. This is a boost from Wingstop’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.2%. Wingstop’s dividend payout ratio is 28.50%.

Wingstop Company 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.