Oppenheimer Asset Management Inc. Sells 35 Shares of Wingstop Inc. (NASDAQ:WING)

Oppenheimer Asset Management Inc. trimmed its position in shares of Wingstop Inc. (NASDAQ:WING) by 0.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,891 shares of the restaurant operator’s stock after selling 35 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Wingstop were worth $1,619,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. CWM LLC grew its stake in Wingstop by 206.6% in the second quarter. CWM LLC now owns 2,287 shares of the restaurant operator’s stock worth $967,000 after purchasing an additional 1,541 shares during the period. Hancock Whitney Corp purchased a new stake in shares of Wingstop in the 1st quarter worth about $1,696,000. Driehaus Capital Management LLC grew its position in shares of Wingstop by 4.1% in the 2nd quarter. Driehaus Capital Management LLC now owns 193,307 shares of the restaurant operator’s stock worth $81,703,000 after buying an additional 7,600 shares during the period. Scientech Research LLC bought a new position in shares of Wingstop in the 2nd quarter worth about $2,249,000. Finally, Vanguard Group Inc. lifted its position in Wingstop by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock valued at $1,071,473,000 after acquiring an additional 104,780 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WING shares. BMO Capital Markets raised their target price on shares of Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Northcoast Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a research note on Friday, November 1st. TD Cowen cut their target price on Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Piper Sandler lowered their price target on Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $390.00 price target on shares of Wingstop in a research note on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $368.74.

Wingstop Trading Down 4.2 %

WING opened at $316.68 on Monday. The company’s 50 day moving average is $376.42 and its 200 day moving average is $384.42. The company has a market cap 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 12-month low of $223.30 and a 12-month high of $433.86.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data 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 business had revenue of $162.50 million for the quarter, compared to the consensus estimate of $160.24 million. During the same period in the previous year, the firm earned $0.69 EPS. The company’s revenue was up 38.8% on a year-over-year basis. As a group, analysts predict that Wingstop Inc. will post 3.68 EPS for the current fiscal year.

Wingstop Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, November 15th. Wingstop’s dividend payout ratio (DPR) is currently 31.49%.

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.