Wingstop Inc. (NASDAQ:WING) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its holdings in Wingstop Inc. (NASDAQ:WING) by 26.1% in the 2nd quarter, Holdings Channel reports. The firm owned 21,761 shares of the restaurant operator’s stock after selling 7,705 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Wingstop were worth $9,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. National Bank of Canada FI raised its stake in shares of Wingstop by 1,930.9% during the second quarter. National Bank of Canada FI now owns 26,320 shares of the restaurant operator’s stock worth $11,174,000 after purchasing an additional 25,024 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of Wingstop by 1.2% in the 2nd quarter. Fiera Capital Corp now owns 250,653 shares of the restaurant operator’s stock valued at $105,941,000 after buying an additional 3,036 shares during the period. Versor Investments LP boosted its stake in shares of Wingstop by 521.8% in the second quarter. Versor Investments LP now owns 4,981 shares of the restaurant operator’s stock valued at $2,105,000 after buying an additional 4,180 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Wingstop by 3.7% during the second quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock worth $347,000 after acquiring an additional 29 shares during the period. Finally, nVerses Capital LLC purchased a new position in Wingstop in the second quarter worth $423,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on WING. The Goldman Sachs Group boosted their target price on shares of Wingstop from $407.00 to $458.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Stephens reissued an “overweight” rating and set a $475.00 price objective on shares of Wingstop in a report on Wednesday, August 14th. Barclays increased their target price on shares of Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Piper Sandler boosted their price target on Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price objective on Wingstop from $420.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Wingstop presently has a consensus rating of “Hold” and an average target price of $378.65.

Wingstop Stock Down 1.7 %

Shares of Wingstop stock opened at $373.35 on Friday. Wingstop Inc. has a fifty-two week low of $150.08 and a fifty-two week high of $431.03. The business’s fifty day moving average is $383.89 and its two-hundred day moving average is $376.99. The firm has a market cap of $10.94 billion, a PE ratio of 132.87, a P/E/G ratio of 3.82 and a beta of 1.71.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The company had revenue of $155.70 million during the quarter, compared to the consensus estimate of $146.04 million. During the same quarter in the prior year, the company posted $0.57 EPS. The company’s quarterly revenue was up 45.3% compared to the same quarter last year. Equities research analysts anticipate that Wingstop Inc. will post 3.75 EPS for the current year.

Wingstop Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Friday, August 16th. This is an increase from Wingstop’s previous quarterly dividend of $0.22. Wingstop’s payout ratio is 38.43%.

Insiders Place Their Bets

In other news, SVP Donnie Upshaw sold 3,199 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the completion of the sale, the senior vice president now owns 97 shares in the company, valued at approximately $36,152.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.36% of the stock is currently owned by insiders.

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.