Ontario Teachers Pension Plan Board Lowers Position in Wingstop Inc. (NASDAQ:WING)

Ontario Teachers Pension Plan Board trimmed its position in Wingstop Inc. (NASDAQ:WING) by 40.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,490 shares of the restaurant operator’s stock after selling 3,025 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Wingstop were worth $1,868,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fulton Bank N.A. grew its position in shares of Wingstop by 5.0% in the 3rd quarter. Fulton Bank N.A. now owns 547 shares of the restaurant operator’s stock worth $228,000 after buying an additional 26 shares during the period. CIBC Asset Management Inc grew its holdings in Wingstop by 3.7% in the second quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock worth $347,000 after purchasing an additional 29 shares during the period. Dark Forest Capital Management LP increased its stake in shares of Wingstop by 4.3% during the second quarter. Dark Forest Capital Management LP now owns 752 shares of the restaurant operator’s stock valued at $318,000 after purchasing an additional 31 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Wingstop by 60.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after purchasing an additional 35 shares during the last quarter. Finally, Hollencrest Capital Management boosted its position in shares of Wingstop by 53.8% in the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 35 shares in the last quarter.

Wingstop Price Performance

Shares of WING opened at $335.58 on Wednesday. The firm has a market capitalization of $9.80 billion, a P/E ratio of 97.84, a PEG ratio of 3.04 and a beta of 1.76. Wingstop Inc. has a one year low of $227.54 and a one year high of $433.86. The business has a fifty day moving average of $374.77 and a 200 day moving average of $383.66.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The firm had revenue of $162.50 million for the quarter, compared to the consensus estimate of $160.24 million. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was up 38.8% compared to the same quarter last year. Analysts expect that Wingstop Inc. will post 3.68 EPS for the current fiscal year.

Wingstop Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a yield of 0.32%. Wingstop’s dividend payout ratio is currently 31.49%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Stephens reduced their price objective on Wingstop from $490.00 to $468.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. The Goldman Sachs Group upgraded Wingstop from a “neutral” rating to a “buy” rating and reduced their price target for the company from $458.00 to $377.00 in a report on Friday, November 8th. Benchmark upgraded shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price target on the stock in a research note on Thursday, October 31st. Northcoast Research raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price objective on the stock in a research report on Friday, November 1st. Finally, Citigroup lifted their target price on shares of Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $368.74.

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.