Zevenbergen Capital Investments LLC Has $38.13 Million Stock Position in Wingstop Inc. $WING

Zevenbergen Capital Investments LLC reduced its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 8.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 151,512 shares of the restaurant operator’s stock after selling 13,734 shares during the quarter. Zevenbergen Capital Investments LLC owned approximately 0.54% of Wingstop worth $38,132,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Freedom Investment Management Inc. grew its position in Wingstop by 2.2% in the second quarter. Freedom Investment Management Inc. now owns 1,371 shares of the restaurant operator’s stock valued at $462,000 after purchasing an additional 30 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Wingstop by 16.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 223 shares of the restaurant operator’s stock valued at $75,000 after acquiring an additional 32 shares in the last quarter. Wedmont Private Capital increased its position in shares of Wingstop by 2.9% in the second quarter. Wedmont Private Capital now owns 1,165 shares of the restaurant operator’s stock valued at $389,000 after acquiring an additional 33 shares during the last quarter. Parallel Advisors LLC raised its holdings in Wingstop by 22.3% during the second quarter. Parallel Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $61,000 after acquiring an additional 33 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in Wingstop by 0.5% in the second quarter. Harbor Capital Advisors Inc. now owns 6,569 shares of the restaurant operator’s stock valued at $2,212,000 after acquiring an additional 34 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wingstop in a report on Monday. UBS Group restated a “neutral” rating and issued a $295.00 price objective on shares of Wingstop in a research note on Tuesday, October 28th. Wedbush reaffirmed an “outperform” rating on shares of Wingstop in a research report on Wednesday, September 17th. BTIG Research decreased their target price on Wingstop from $430.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $350.00 price target on shares of Wingstop in a research note on Monday. Five analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Wingstop has an average rating of “Moderate Buy” and an average target price of $340.78.

Wingstop Trading Up 1.8%

NASDAQ:WING opened at $259.20 on Friday. The stock has a 50 day simple moving average of $247.27 and a 200 day simple moving average of $292.17. The stock has a market cap of $7.20 billion, a P/E ratio of 42.21, a PEG ratio of 3.51 and a beta of 1.75. Wingstop Inc. has a 1-year low of $204.00 and a 1-year high of $388.14.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Tuesday, November 4th. The restaurant operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.18. Wingstop had a negative return on equity of 16.17% and a net margin of 25.51%.The firm had revenue of $175.74 million for the quarter, compared to analysts’ expectations of $189.10 million. During the same quarter last year, the business earned $0.88 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Wingstop Inc. will post 4.18 EPS for the current year.

Wingstop Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 21st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, November 21st. Wingstop’s dividend payout ratio is presently 19.54%.

Insider Activity at Wingstop

In other news, Director Kilandigalu Madati sold 269 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $259.97, for a total transaction of $69,931.93. Following the transaction, the director directly owned 5,283 shares of the company’s stock, valued at approximately $1,373,421.51. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.