Voya Investment Management LLC Has $48.55 Million Holdings in Wingstop Inc. $WING

Voya Investment Management LLC cut its holdings in Wingstop Inc. (NASDAQ:WING) by 24.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 215,227 shares of the restaurant operator’s stock after selling 70,445 shares during the period. Voya Investment Management LLC owned about 0.77% of Wingstop worth $48,551,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Strs Ohio acquired a new stake in shares of Wingstop in the first quarter valued at approximately $11,279,000. Geneos Wealth Management Inc. raised its holdings 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 valued at $49,000 after purchasing an additional 119 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Wingstop by 5.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,439 shares of the restaurant operator’s stock worth $20,852,000 after buying an additional 4,937 shares during the last quarter. United Services Automobile Association acquired a new position in Wingstop during the first quarter worth $429,000. Finally, Jones Financial Companies Lllp increased its holdings in Wingstop by 2,770.6% during the first quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator’s stock worth $440,000 after buying an additional 1,884 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WING shares. Truist Financial upgraded shares of Wingstop from a “hold” rating to a “buy” rating and boosted their target price for the stock from $274.00 to $400.00 in a report on Tuesday, May 27th. Morgan Stanley boosted their target price on shares of Wingstop from $367.00 to $405.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Benchmark boosted their target price on shares of Wingstop from $325.00 to $410.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. The Goldman Sachs Group boosted their target price on shares of Wingstop from $310.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Finally, Sanford C. Bernstein restated an “overweight” rating and set a $440.00 target price on shares of Wingstop in a report on Thursday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Wingstop has a consensus rating of “Moderate Buy” and an average price target of $380.52.

Insider Activity

In related news, CEO Michael Skipworth sold 4,500 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $370.34, for a total value of $1,666,530.00. Following the completion of the transaction, the chief executive officer owned 42,777 shares of the company’s stock, valued at $15,842,034.18. The trade was a 9.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Marisa Carona sold 11,938 shares of the business’s stock in a transaction dated 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 90 days, insiders sold 21,838 shares of company stock valued at $8,118,535. 0.72% of the stock is owned by company insiders.

Wingstop Price Performance

WING stock opened at $266.02 on Friday. The company has a fifty day moving average price of $323.32 and a two-hundred day moving average price of $293.50. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 44.34, a price-to-earnings-growth ratio of 3.45 and a beta of 1.87. Wingstop Inc. has a one year low of $204.00 and a one year high of $433.86.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share (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 analysts’ expectations of $172.60 million. Wingstop had a net margin of 25.61% and a negative return on equity of 17.07%. Wingstop’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 earnings per share. Research analysts anticipate that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 15th. This is a boost 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 presently 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.