PNC Financial Services Group Inc. Has $1.06 Million Stake in Wingstop Inc. (NASDAQ:WING)

PNC Financial Services Group Inc. reduced its position in shares of Wingstop Inc. (NASDAQ:WING) by 21.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,541 shares of the restaurant operator’s stock after selling 684 shares during the period. PNC Financial Services Group Inc.’s holdings in Wingstop were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC increased its position in Wingstop by 13.8% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,276 shares of the restaurant operator’s stock worth $531,000 after buying an additional 155 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Wingstop in the third quarter valued at about $421,000. Savoir Faire Capital Management L.P. bought a new position in Wingstop during the third quarter worth about $5,907,000. Quest Partners LLC raised its stake in Wingstop by 10.0% in the 3rd quarter. Quest Partners LLC now owns 2,822 shares of the restaurant operator’s stock worth $1,174,000 after purchasing an additional 256 shares in the last quarter. Finally, Claro Advisors LLC acquired a new position in shares of Wingstop during the 3rd quarter worth approximately $245,000.

Wingstop Price Performance

Wingstop stock opened at $331.27 on Thursday. The stock’s 50 day moving average is $368.31 and its 200 day moving average is $381.61. Wingstop Inc. has a one year low of $232.88 and a one year high of $433.86. The firm has a market cap of $9.68 billion, a P/E ratio of 96.87, a P/E/G ratio of 3.14 and a beta of 1.76.

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 the consensus estimate of $0.97 by ($0.09). Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. 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 previous year, the business posted $0.69 EPS. The firm’s revenue for the quarter was up 38.8% compared to the same quarter last year. Equities analysts anticipate that Wingstop Inc. will post 3.68 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.08 annualized dividend and a yield of 0.33%. Wingstop’s payout ratio is 31.49%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WING. Citigroup boosted their price target on Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. TD Cowen dropped their price objective on Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Stephens reduced their target price on Wingstop from $490.00 to $468.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Barclays dropped their price target on Wingstop from $470.00 to $380.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Finally, Northcoast Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price objective on the stock in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.