Public Employees Retirement System of Ohio Acquires 13,735 Shares of Wingstop Inc. $WING

Public Employees Retirement System of Ohio lifted its position in Wingstop Inc. (NASDAQ:WING) by 151.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,827 shares of the restaurant operator’s stock after acquiring an additional 13,735 shares during the period. Public Employees Retirement System of Ohio owned 0.08% of Wingstop worth $7,687,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WING. Tidal Investments LLC raised 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 acquiring an additional 37 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Wingstop by 93.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator’s stock worth $29,000 after acquiring an additional 62 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Wingstop by 46,128.7% in the 1st quarter. GAMMA Investing LLC now owns 103,090 shares of the restaurant operator’s stock worth $23,255,000 after acquiring an additional 102,867 shares in the last quarter. Merit Financial Group LLC raised its position in shares of Wingstop by 167.4% in the 1st quarter. Merit Financial Group LLC now owns 2,035 shares of the restaurant operator’s stock worth $459,000 after acquiring an additional 1,274 shares in the last quarter. Finally, Clare Market Investments LLC bought a new position in shares of Wingstop in the 1st quarter worth approximately $514,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WING shares. Melius started coverage on Wingstop in a research report on Monday, July 14th. They set a “hold” rating and a $350.00 price objective for the company. Wolfe Research started coverage on Wingstop in a research report on Wednesday, July 9th. They set an “outperform” rating and a $280.00 price objective for the company. Morgan Stanley raised their price objective on Wingstop from $367.00 to $405.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Piper Sandler initiated coverage on Wingstop in a research report on Wednesday, July 9th. They set an “overweight” rating for the company. Finally, Citigroup increased their target price on Wingstop from $296.00 to $321.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $380.52.

Wingstop Price Performance

WING stock opened at $247.44 on Friday. The company has a market cap of $6.91 billion, a P/E ratio of 41.24, a price-to-earnings-growth ratio of 3.11 and a beta of 1.87. Wingstop Inc. has a 1 year low of $204.00 and a 1 year high of $427.00. The stock’s fifty day moving average price is $309.12 and its 200-day moving average price is $295.69.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.12. The firm had revenue of $174.33 million for the quarter, compared to the consensus estimate of $172.60 million. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the business posted $0.93 EPS. As a group, analysts expect that Wingstop Inc. will post 4.18 earnings per share for the current year.

Wingstop Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.5%. This is a boost from Wingstop’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, August 15th. Wingstop’s dividend payout ratio (DPR) is presently 20.00%.

Insider Activity at Wingstop

In related news, CEO Michael Skipworth sold 4,500 shares of Wingstop stock in a transaction on Friday, August 1st. The stock was sold at an average price of $370.34, for a total transaction of $1,666,530.00. Following the transaction, the chief executive officer directly owned 42,777 shares in the company, valued at approximately $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 accessible through the SEC website. Also, CFO Alex Kaleida sold 5,400 shares of Wingstop stock in a transaction on Friday, August 1st. The shares were sold at an average price of $376.09, for a total value of $2,030,886.00. Following the transaction, the chief financial officer owned 8,362 shares in the company, valued at $3,144,864.58. This trade represents a 39.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,838 shares of company stock worth $8,118,535. Corporate insiders own 0.72% of the company’s stock.

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.