Wingstop Inc. $WING Stock: King Luther Capital Management Corp Reduces Stake

King Luther Capital Management Corp reduced its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 8.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 60,134 shares of the restaurant operator’s stock after selling 5,317 shares during the quarter. King Luther Capital Management Corp owned 0.22% of Wingstop worth $6,336,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. BlackRock Inc. acquired a new position in Wingstop during the second quarter worth about $481,314,000. Darsana Capital Partners LP lifted its holdings in shares of Wingstop by 20.0% in the second quarter. Darsana Capital Partners LP now owns 1,500,000 shares of the restaurant operator’s stock worth $260,115,000 after acquiring an additional 250,000 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of Wingstop by 44.5% in the 2nd quarter. Alyeska Investment Group L.P. now owns 942,943 shares of the restaurant operator’s stock valued at $163,516,000 after purchasing an additional 290,501 shares in the last quarter. State Street Corp boosted its stake in shares of Wingstop by 2.0% in the 2nd quarter. State Street Corp now owns 863,951 shares of the restaurant operator’s stock valued at $149,751,000 after purchasing an additional 16,907 shares in the last quarter. Finally, Jupiter Topco LLC bought a new stake in shares of Wingstop during the 2nd quarter valued at approximately $147,440,000.

Wall Street Analyst Weigh In

Several equities analysts recently commented on WING shares. Wells Fargo & Company increased their price objective on shares of Wingstop from $165.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. UBS Group raised their target price on shares of Wingstop from $140.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Royal Bank Of Canada boosted their target price on shares of Wingstop from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, October 29th. Morgan Stanley lowered their price target on shares of Wingstop from $202.00 to $198.00 and set an “overweight” rating for the company in a report on Thursday, October 29th. Finally, Stephens reiterated an “overweight” rating and issued a $200.00 price target on shares of Wingstop in a research note on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wingstop currently has an average rating of “Moderate Buy” and a consensus target price of $219.56.

Insider Buying and Selling

In other Wingstop news, COO Raj Kapoor sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $163.61, for a total value of $409,025.00. Following the completion of the transaction, the chief operating officer directly owned 1,659 shares in the company, valued at approximately $271,428.99. This represents a 60.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Wesley Mcdonald sold 1,520 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $145.11, for a total transaction of $220,567.20. Following the transaction, the director directly owned 3,986 shares of the company’s stock, valued at $578,408.46. The trade was a 27.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.53% of the company’s stock.

Wingstop Trading Down 4.5%

Shares of WING stock opened at $159.26 on Friday. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 2.21 and a beta of 1.77. The business’s 50-day moving average price is $124.69 and its 200-day moving average price is $159.82. Wingstop Inc. has a 12 month low of $95.82 and a 12 month high of $302.80.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, October 28th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.06. The company had revenue of $185.13 million during the quarter, compared to the consensus estimate of $192.89 million. Wingstop had a negative return on equity of 15.80% and a net margin of 16.03%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 earnings per share. On average, sell-side analysts predict that Wingstop Inc. will post 4.19 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, November 13th. Wingstop’s payout ratio is presently 30.99%.

Wingstop Profile

Wingstop Inc. is a restaurant company focused on chicken wings and related menu items. Its offerings include classic and boneless wings with a range of flavors, as well as chicken tenders, fries, dips and other sides. Customers can order through its restaurants and digital channels. Founded in 1994 in Garland, Texas, Wingstop has grown into an international brand. The company operates primarily through franchised restaurants in the United States and select international markets. Wingstop is headquartered in Addison, Texas.