Pinnacle Wealth Planning Services Inc. Acquires New Stake in Wingstop Inc. (NASDAQ:WING)

Pinnacle Wealth Planning Services Inc. bought a new position in shares of Wingstop Inc. (NASDAQ:WING) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 601 shares of the restaurant operator’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Federated Hermes Inc. grew its stake in Wingstop by 1.8% during the 4th quarter. Federated Hermes Inc. now owns 1,107,852 shares of the restaurant operator’s stock worth $284,253,000 after purchasing an additional 19,540 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Wingstop by 155.7% during the 4th quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock worth $224,093,000 after acquiring an additional 531,880 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Wingstop during the 4th quarter worth about $103,899,000. Dimensional Fund Advisors LP boosted its position in shares of Wingstop by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 396,258 shares of the restaurant operator’s stock worth $101,673,000 after acquiring an additional 8,058 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Wingstop during the 4th quarter worth about $80,423,000.

Wingstop Stock Up 0.8 %

Shares of WING traded up $3.11 on Friday, reaching $369.31. The stock had a trading volume of 420,943 shares, compared to its average volume of 381,553. The firm has a 50-day moving average of $396.13 and a 200 day moving average of $353.95. The firm has a market capitalization of $10.82 billion, a PE ratio of 131.43, a PEG ratio of 4.23 and a beta of 1.69. Wingstop Inc. has a twelve month low of $150.08 and a twelve month high of $431.03.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.22. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The business had revenue of $145.70 million for the quarter, compared to analysts’ expectations of $136.34 million. During the same quarter last year, the firm earned $0.59 earnings per share. The business’s revenue was up 34.0% on a year-over-year basis. On average, sell-side analysts anticipate that Wingstop Inc. will post 3.46 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Thursday, May 16th. Wingstop’s dividend payout ratio (DPR) is 31.32%.

Insider Transactions at Wingstop

In other news, SVP Albert G. Mcgrath sold 4,230 shares of the firm’s 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 sale, the senior vice president now owns 8,170 shares in the company, valued at $3,238,588. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 value of $215,595.06. Following the transaction, the director now directly owns 1,164 shares of the company’s stock, valued at approximately $443,379.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 completion of the transaction, 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 over the last quarter. 0.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Bank of America upped their price objective on Wingstop from $421.00 to $461.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group assumed coverage on Wingstop in a research report on Thursday, June 13th. They set a “neutral” rating and a $407.00 price objective for the company. BMO Capital Markets upped their price objective on Wingstop from $275.00 to $325.00 and gave the stock a “market perform” rating in a research report on Thursday, May 2nd. Jefferies Financial Group upped their target price on Wingstop from $310.00 to $335.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. Finally, TD Cowen upped their target price on Wingstop from $430.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $357.89.

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.