M&T Bank Corp Sells 103 Shares of Wingstop Inc. (NASDAQ:WING)

M&T Bank Corp lessened its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 9.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 996 shares of the restaurant operator’s stock after selling 103 shares during the quarter. M&T Bank Corp’s holdings in Wingstop were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Wingstop by 521.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 73 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Wingstop by 93.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 62 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Wingstop by 62.1% during the fourth quarter. True Wealth Design LLC now owns 141 shares of the restaurant operator’s stock valued at $40,000 after acquiring an additional 54 shares in the last quarter. Quarry LP bought a new position in shares of Wingstop during the fourth quarter valued at approximately $41,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Wingstop during the fourth quarter valued at approximately $49,000.

Analyst Ratings Changes

A number of equities analysts recently commented on WING shares. Gordon Haskett upgraded Wingstop to a “strong-buy” rating in a report on Wednesday, April 30th. TD Securities reiterated a “buy” rating and issued a $440.00 price objective on shares of Wingstop in a report on Tuesday, June 17th. Barclays reiterated an “overweight” rating and issued a $410.00 price objective (up previously from $360.00) on shares of Wingstop in a report on Thursday, June 26th. Wolfe Research started coverage on Wingstop in a report on Wednesday, July 9th. They issued an “outperform” rating and a $280.00 price objective for the company. Finally, Guggenheim increased their price objective on Wingstop from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $355.80.

Wingstop Price Performance

Wingstop stock opened at $329.34 on Friday. Wingstop Inc. has a one year low of $204.00 and a one year high of $433.86. The stock has a market capitalization of $9.19 billion, a PE ratio of 55.17, a price-to-earnings-growth ratio of 4.59 and a beta of 1.84. The business’s fifty day moving average is $338.18 and its 200 day moving average is $282.97.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.99 EPS for the quarter, beating the consensus estimate of $0.84 by $0.15. Wingstop had a negative return on equity of 18.85% and a net margin of 26.45%. The company had revenue of $171.09 million for the quarter, compared to analysts’ expectations of $172.25 million. During the same period last year, the firm posted $0.98 earnings per share. Wingstop’s revenue was up 17.4% compared to the same quarter last year. As a group, sell-side analysts expect that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were given a dividend of $0.27 per share. The ex-dividend date was Friday, May 16th. This represents a $1.08 annualized dividend and a dividend yield of 0.33%. Wingstop’s dividend payout ratio (DPR) is presently 18.09%.

Insider Buying and Selling at Wingstop

In related news, SVP Raj Kapoor sold 637 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $273.07, for a total transaction of $173,945.59. Following the sale, the senior vice president directly owned 517 shares of the company’s stock, valued at $141,177.19. This trade represents a 55.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Skipworth sold 10,000 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $337.34, for a total value of $3,373,400.00. Following the sale, the chief executive officer directly owned 47,190 shares in the company, valued at $15,919,074.60. This trade represents a 17.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

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.