Bank of Montreal Can Sells 1,170 Shares of Wingstop Inc. $WING

Bank of Montreal Can decreased its holdings in Wingstop Inc. (NASDAQ:WING) by 15.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,611 shares of the restaurant operator’s stock after selling 1,170 shares during the quarter. Bank of Montreal Can’s holdings in Wingstop were worth $2,226,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in WING. Price T Rowe Associates Inc. MD raised its stake in shares of Wingstop by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,646,934 shares of the restaurant operator’s stock worth $371,517,000 after purchasing an additional 496,717 shares during the last quarter. American Century Companies Inc. lifted its stake in Wingstop by 4.7% during the 1st quarter. American Century Companies Inc. now owns 1,262,597 shares of the restaurant operator’s stock valued at $284,817,000 after acquiring an additional 56,535 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Wingstop during the 1st quarter worth $212,672,000. Alyeska Investment Group L.P. boosted its holdings in Wingstop by 29.8% during the 1st quarter. Alyeska Investment Group L.P. now owns 693,115 shares of the restaurant operator’s stock worth $156,353,000 after acquiring an additional 158,977 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its stake in shares of Wingstop by 130.7% in the 1st quarter. Champlain Investment Partners LLC now owns 631,989 shares of the restaurant operator’s stock worth $142,564,000 after acquiring an additional 358,044 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group restated a “neutral” rating and set a $295.00 price target on shares of Wingstop in a report on Tuesday, October 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Wingstop in a report on Wednesday, November 5th. Stifel Nicolaus decreased their price target on Wingstop from $375.00 to $300.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Truist Financial dropped their price target on Wingstop from $400.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, Zacks Research downgraded Wingstop from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $335.96.

Wingstop Stock Performance

Shares of Wingstop stock opened at $241.26 on Thursday. The stock has a market capitalization of $6.70 billion, a P/E ratio of 39.29, a P/E/G ratio of 3.29 and a beta of 1.73. Wingstop Inc. has a 52-week low of $204.00 and a 52-week high of $388.14. The stock’s 50-day simple moving average is $254.97 and its 200 day simple moving average is $301.57.

Wingstop (NASDAQ:WING) last posted its earnings results on Tuesday, November 4th. The restaurant operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.18. Wingstop had a net margin of 25.51% and a negative return on equity of 16.17%. The firm had revenue of $175.74 million during the quarter, compared to the consensus estimate of $189.10 million. During the same quarter last year, the company earned $0.88 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. Equities research analysts forecast that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.20 annualized dividend and a yield of 0.5%. Wingstop’s dividend payout ratio (DPR) is 19.54%.

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.