Victory Capital Management Inc. Increases Stake in Wingstop Inc. (NASDAQ:WING)

Victory Capital Management Inc. boosted its position in Wingstop Inc. (NASDAQ:WING) by 147.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,040 shares of the restaurant operator’s stock after acquiring an additional 37,015 shares during the quarter. Victory Capital Management Inc. owned 0.21% of Wingstop worth $25,814,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new stake in shares of Wingstop during the 2nd quarter worth $27,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Wingstop during the 2nd quarter worth about $34,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after acquiring an additional 35 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of Wingstop by 60.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 40 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Wingstop by 384.6% in the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock valued at $53,000 after purchasing an additional 100 shares in the last quarter.

Wingstop Stock Performance

NASDAQ:WING opened at $316.68 on Monday. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 92.33, a PEG ratio of 2.95 and a beta of 1.76. Wingstop Inc. has a 1 year low of $223.30 and a 1 year high of $433.86. The stock has a fifty day moving average price of $376.42 and a two-hundred day moving average price of $384.42.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share 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 company had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. The company’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 earnings per share. On average, analysts predict that Wingstop Inc. will post 3.68 EPS for the current year.

Wingstop Announces Dividend

The company 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 $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Friday, November 15th. Wingstop’s dividend payout ratio (DPR) is 31.49%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BMO Capital Markets raised their price objective on shares of Wingstop from $345.00 to $360.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 target price on the stock in a research report on Thursday, October 31st. Northcoast Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 target price for the company in a research report on Friday, November 1st. Benchmark raised Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price target on the stock in a research report on Thursday, October 31st. Finally, TD Cowen reduced their price objective on Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Wingstop has an average rating of “Moderate Buy” and an average target price of $368.74.

About Wingstop

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.