Precision Wealth Strategies LLC Sells 286 Shares of Wingstop Inc. (NASDAQ:WING)

Precision Wealth Strategies LLC reduced its position in shares of Wingstop Inc. (NASDAQ:WING) by 16.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,412 shares of the restaurant operator’s stock after selling 286 shares during the quarter. Precision Wealth Strategies LLC’s holdings in Wingstop were worth $517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in Wingstop by 29.4% during the 3rd quarter. American Century Companies Inc. now owns 1,626,558 shares of the restaurant operator’s stock worth $292,520,000 after purchasing an additional 370,032 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Wingstop by 11.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,167,230 shares of the restaurant operator’s stock valued at $209,915,000 after acquiring an additional 121,134 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Wingstop by 1.8% in the 4th quarter. Federated Hermes Inc. now owns 1,107,852 shares of the restaurant operator’s stock valued at $284,253,000 after acquiring an additional 19,540 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Wingstop by 155.7% in the 4th quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock valued at $224,093,000 after acquiring an additional 531,880 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Wingstop in the 4th quarter valued at about $103,899,000.

Analysts Set New Price Targets

WING has been the subject of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and issued a $425.00 price target on shares of Wingstop in a research note on Wednesday, May 1st. Citigroup boosted their price objective on Wingstop from $375.00 to $398.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Robert W. Baird upped their price target on Wingstop from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Morgan Stanley upped their price target on Wingstop from $280.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. Finally, Wedbush upped their price target on Wingstop from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $352.39.

Wingstop Stock Performance

WING traded up $0.23 during trading hours on Friday, reaching $418.72. The company’s stock had a trading volume of 299,205 shares, compared to its average volume of 313,923. Wingstop Inc. has a 52 week low of $150.08 and a 52 week high of $431.03. The company’s 50-day moving average is $397.76 and its 200-day moving average is $344.58. The firm has a market cap of $12.27 billion, a PE ratio of 149.01, a price-to-earnings-growth ratio of 5.35 and a beta of 1.69.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.22. The business had revenue of $145.70 million for the quarter, compared to analysts’ expectations of $136.34 million. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 EPS. Equities analysts anticipate that Wingstop Inc. will post 3.4 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.21%. The ex-dividend date was Thursday, May 16th. Wingstop’s payout ratio is 31.32%.

Insiders Place Their Bets

In other Wingstop news, SVP Albert G. Mcgrath sold 4,230 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $396.40, for a total transaction of $1,676,772.00. Following the transaction, the senior vice president now owns 8,170 shares in the company, valued at approximately $3,238,588. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ania Smith sold 566 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $380.91, for a total transaction of $215,595.06. Following the sale, the director now directly owns 1,164 shares of the company’s stock, valued at approximately $443,379.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Albert G. Mcgrath sold 4,230 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $396.40, for a total value of $1,676,772.00. Following the sale, the senior vice president now directly owns 8,170 shares in the company, valued at $3,238,588. The disclosure for this sale can be found here. Insiders have sold 6,191 shares of company stock worth $2,443,547 in the last 90 days. Company insiders own 0.36% 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.