Allspring Global Investments Holdings LLC Sells 98,681 Shares of Wingstop Inc. $WING

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 80.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 24,196 shares of the restaurant operator’s stock after selling 98,681 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Wingstop were worth $3,505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Steadfast Capital Management LP increased its stake in shares of Wingstop by 296.2% in the 3rd quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator’s stock worth $239,227,000 after purchasing an additional 710,621 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Wingstop by 48.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,405,894 shares of the restaurant operator’s stock worth $335,292,000 after acquiring an additional 456,861 shares during the period. Atreides Management LP bought a new stake in Wingstop during the 4th quarter worth approximately $93,012,000. Wasatch Advisors LP purchased a new position in Wingstop during the second quarter valued at approximately $114,758,000. Finally, Norges Bank purchased a new position in Wingstop during the fourth quarter valued at approximately $77,331,000.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WING shares. Piper Sandler upgraded shares of Wingstop from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $283.00 to $190.00 in a research note on Thursday, April 2nd. UBS Group reiterated a “neutral” rating on shares of Wingstop in a research note on Tuesday, July 14th. Morgan Stanley reissued an “overweight” rating and set a $255.00 price target on shares of Wingstop in a report on Thursday, April 30th. Barclays dropped their price objective on Wingstop from $330.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, Benchmark lowered their price target on Wingstop from $320.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.81.

Wingstop News Summary

Here are the key news stories impacting Wingstop this week:

• Positive Sentiment: Wingstop launched “Wingstop Wing Week,” expanding National Wing Day into a five-day event with free wings, Club Wingstop rewards, and live music giveaways, which could help boost customer traffic and brand engagement. Wingstop Expands Wing Day into Wing Week, Kicking Off a Broader $1 Million in Fan Experiences and Giveaways
• Positive Sentiment: Multiple reports highlighted Wingstop’s National Wing Day promotion expansion, reinforcing that the company is using limited-time offers and giveaways to drive consumer interest. Wingstop is turning National Wing Day into a full week with free wings and daily prize giveaways
• Neutral Sentiment: Brokerage coverage remained constructive overall, with a consensus “Moderate Buy” rating still in place, suggesting analysts remain generally optimistic about the stock’s outlook. Wingstop Inc. (NASDAQ:WING) Receives Consensus Rating of “Moderate Buy” from Brokerages
• Neutral Sentiment: Mizuho lowered its price target on Wingstop to $240 from $280, but kept an “outperform” rating, indicating confidence remains intact despite a reduced valuation target. The Fly
• Neutral Sentiment: DA Davidson also cut its price target to $200 from $230 while maintaining a “buy” rating, which may reflect near-term caution but not a change in the firm’s positive view. Benzinga
• Neutral Sentiment: Wingstop announced a restaurant opening in Craigavon, supporting its ongoing expansion strategy, though the article did not indicate a material financial impact. US chicken chain Wingstop in Craigavon restaurant opening

Wingstop Trading Up 0.3%

Shares of WING opened at $135.20 on Friday. Wingstop Inc. has a twelve month low of $116.35 and a twelve month high of $381.45. The company’s fifty day simple moving average is $151.74 and its 200-day simple moving average is $192.82. The company has a market cap of $3.68 billion, a P/E ratio of 33.63, a P/E/G ratio of 1.61 and a beta of 1.79.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 EPS for the quarter, beating the consensus estimate of $1.02 by $0.16. The company had revenue of $183.72 million for the quarter, compared to the consensus estimate of $187.82 million. Wingstop had a net margin of 15.77% and a negative return on equity of 16.22%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. Analysts predict that Wingstop Inc. will post 4.56 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 15th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.9%. Wingstop’s payout ratio is presently 29.85%.

About Wingstop

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.