Wingstop Inc. (NASDAQ:WING) Shares Acquired by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC lifted its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 21.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,910 shares of the restaurant operator’s stock after acquiring an additional 851 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Wingstop were worth $1,108,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Verdence Capital Advisors LLC increased its position in shares of Wingstop by 3.9% in the 4th quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator’s stock worth $256,000 after purchasing an additional 34 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its position in shares of Wingstop by 62.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 35 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of Wingstop by 34.9% in the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock worth $41,000 after purchasing an additional 37 shares during the last quarter. Tidal Investments LLC increased its position in shares of Wingstop by 4.9% in the 4th quarter. Tidal Investments LLC now owns 795 shares of the restaurant operator’s stock worth $226,000 after purchasing an additional 37 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Wingstop by 0.5% in the 4th quarter. Arizona State Retirement System now owns 8,499 shares of the restaurant operator’s stock worth $2,415,000 after purchasing an additional 42 shares during the last quarter.

Insider Activity

In related news, CEO Michael Skipworth sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $337.34, for a total transaction of $3,373,400.00. Following the completion of the sale, the chief executive officer now directly owns 47,190 shares of the company’s stock, valued at $15,919,074.60. This represents a 17.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Raj Kapoor sold 637 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $273.07, for a total transaction of $173,945.59. Following the sale, the senior vice president now directly owns 517 shares of the company’s stock, valued at approximately $141,177.19. This represents a 55.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WING shares. Bank of America boosted their target price on shares of Wingstop from $319.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Barclays lowered their price objective on shares of Wingstop from $315.00 to $260.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Guggenheim boosted their price objective on shares of Wingstop from $280.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Sanford C. Bernstein reaffirmed an “overweight” rating and set a $360.00 price objective on shares of Wingstop in a research report on Wednesday, May 14th. Finally, Jefferies Financial Group raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $270.00 price objective for the company in a research report on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Wingstop currently has a consensus rating of “Moderate Buy” and an average price target of $350.96.

Wingstop Price Performance

Wingstop stock opened at $354.06 on Friday. The firm has a 50 day simple moving average of $289.26 and a 200-day simple moving average of $277.90. The stock has a market capitalization of $9.88 billion, a PE ratio of 95.43, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a 12-month low of $204.00 and a 12-month high of $433.86.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.15. The business had revenue of $171.09 million during the quarter, compared to analysts’ expectations of $172.25 million. Wingstop had a net margin of 17.37% and a negative return on equity of 21.59%. The business’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm posted $0.98 earnings per share. On average, analysts forecast that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend was Friday, May 16th. Wingstop’s dividend payout ratio (DPR) is presently 18.09%.

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.