Bridgewater Associates LP Sells 14,625 Shares of Wingstop Inc. (NASDAQ:WING)

Bridgewater Associates LP lessened its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 35.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 26,181 shares of the restaurant operator’s stock after selling 14,625 shares during the period. Bridgewater Associates LP owned approximately 0.09% of Wingstop worth $10,893,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. Hollencrest Capital Management bought a new position in shares of Wingstop during the 2nd quarter worth about $27,000. Ashton Thomas Private Wealth LLC bought a new position in Wingstop during the second quarter valued at about $34,000. Massmutual Trust Co. FSB ADV raised its holdings in Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after acquiring an additional 35 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of Wingstop by 60.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 40 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of 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 in the last quarter.

Analyst Ratings Changes

WING has been the topic of a number of recent research reports. Piper Sandler decreased their price objective on Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Citigroup increased their price objective on Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Truist Financial upped their price target on Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. The Goldman Sachs Group upgraded Wingstop from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $458.00 to $377.00 in a research report on Friday, November 8th. Finally, Wedbush reissued an “outperform” rating and set a $390.00 price objective on shares of Wingstop in a report on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $368.74.

Wingstop Price Performance

Shares of Wingstop stock opened at $331.27 on Friday. The company has a market capitalization of $9.68 billion, a P/E ratio of 96.58, a price-to-earnings-growth ratio of 3.09 and a beta of 1.76. The business has a 50-day moving average of $366.68 and a two-hundred day moving average of $381.26. Wingstop Inc. has a 1 year low of $232.88 and a 1 year high of $433.86.

Wingstop (NASDAQ:WING) last posted its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). The business had revenue of $162.50 million for the quarter, compared to the consensus estimate of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. Wingstop’s revenue for the quarter was up 38.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. On average, equities analysts anticipate that Wingstop Inc. will post 3.68 EPS for the current fiscal year.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.33%. Wingstop’s payout ratio is 31.49%.

Wingstop Company 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.