Blueshift Asset Management LLC Boosts Position in Wingstop Inc. (NASDAQ:WING)

Blueshift Asset Management LLC raised its stake in shares of Wingstop Inc. (NASDAQ:WING) by 416.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 17,637 shares of the restaurant operator’s stock after purchasing an additional 14,225 shares during the period. Wingstop makes up 1.8% of Blueshift Asset Management LLC’s portfolio, making the stock its 3rd biggest position. Blueshift Asset Management LLC’s holdings in Wingstop were worth $7,338,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in WING. Hollencrest Capital Management purchased a new position in shares of Wingstop during the second quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in Wingstop during the second quarter valued at about $34,000. Massmutual Trust Co. FSB ADV grew its stake 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 buying an additional 35 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Wingstop by 60.6% in the third quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after buying an additional 40 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Wingstop by 384.6% in the 3rd quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock valued at $53,000 after acquiring an additional 100 shares during the last quarter.

Wingstop Price Performance

Shares of Wingstop stock opened at $338.79 on Wednesday. Wingstop Inc. has a 1-year low of $229.27 and a 1-year high of $433.86. The company’s fifty day simple moving average is $369.86 and its 200-day simple moving average is $381.97. The stock has a market capitalization of $9.90 billion, a PE ratio of 98.77, a P/E/G ratio of 3.14 and a beta of 1.76.

Wingstop (NASDAQ:WING) last announced 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). The company had revenue of $162.50 million for the quarter, compared to the consensus estimate of $160.24 million. Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The company’s revenue was up 38.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. As a group, research analysts anticipate that Wingstop Inc. will post 3.68 EPS for the current year.

Wingstop Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $390.00 price objective on shares of Wingstop in a research report on Tuesday, November 5th. Citigroup upped their price target on shares of Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Benchmark raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price target on the stock in a report on Thursday, October 31st. Truist Financial boosted their price target on Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Northcoast Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Wingstop 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.