CNA Financial Corp Cuts Position in Wingstop Inc. (NASDAQ:WING)

CNA Financial Corp lowered its position in shares of Wingstop Inc. (NASDAQ:WINGGet Rating) by 13.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,500 shares of the restaurant operator’s stock after selling 1,150 shares during the quarter. CNA Financial Corp’s holdings in Wingstop were worth $880,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. B. Metzler seel. Sohn & Co. AG purchased a new stake in Wingstop during the first quarter worth approximately $1,708,000. Swiss National Bank increased its holdings in Wingstop by 7.6% in the 1st quarter. Swiss National Bank now owns 70,600 shares of the restaurant operator’s stock valued at $8,285,000 after purchasing an additional 5,000 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Wingstop by 8.4% during the 1st quarter. Teacher Retirement System of Texas now owns 6,184 shares of the restaurant operator’s stock worth $726,000 after acquiring an additional 477 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Wingstop during the first quarter valued at approximately $2,122,000. Finally, WCM Investment Management LLC increased its stake in Wingstop by 14.5% during the 1st quarter. WCM Investment Management LLC now owns 105,840 shares of the restaurant operator’s stock worth $12,420,000 after buying an additional 13,435 shares during the period.

Wingstop Stock Performance

Shares of Wingstop stock traded down $4.66 during trading on Wednesday, hitting $129.87. 6,861 shares of the stock traded hands, compared to its average volume of 940,658. The company has a fifty day moving average price of $98.40 and a two-hundred day moving average price of $107.62. Wingstop Inc. has a twelve month low of $67.67 and a twelve month high of $187.35. The stock has a market cap of $3.88 billion, a P/E ratio of 97.75, a PEG ratio of 7.88 and a beta of 1.69.

Wingstop (NASDAQ:WINGGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The restaurant operator reported $0.45 EPS for the quarter, topping the consensus estimate of $0.36 by $0.09. Wingstop had a net margin of 13.49% and a negative return on equity of 10.82%. The company had revenue of $83.78 million for the quarter, compared to analyst estimates of $86.11 million. During the same quarter in the prior year, the business posted $0.38 EPS. Wingstop’s quarterly revenue was up 13.2% on a year-over-year basis. On average, equities research analysts expect that Wingstop Inc. will post 1.57 EPS for the current fiscal year.

Wingstop Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 12th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Thursday, August 11th. This is an increase from Wingstop’s previous quarterly dividend of $0.17. Wingstop’s dividend payout ratio is 56.72%.

Analyst Ratings Changes

A number of analysts have recently issued reports on WING shares. Piper Sandler dropped their target price on Wingstop from $85.00 to $70.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 21st. Cowen lifted their price target on shares of Wingstop from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, August 8th. Wedbush upped their target price on shares of Wingstop from $105.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, July 29th. BTIG Research increased their price target on shares of Wingstop from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Wingstop from $83.00 to $117.00 in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Wingstop presently has an average rating of “Moderate Buy” and a consensus target price of $138.35.

Wingstop Profile

(Get Rating)

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. As of December 25, 2021, the company had 1,695 franchised restaurants and 36 company-owned restaurants in 44 states and 7 countries worldwide.

Further Reading

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Institutional Ownership by Quarter for Wingstop (NASDAQ:WING)

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