Federated Hermes Inc. Cuts Stock Position in Wingstop Inc. $WING

Federated Hermes Inc. lessened its holdings in Wingstop Inc. (NASDAQ:WING) by 6.2% in the third quarter, Holdings Channel reports. The firm owned 440,798 shares of the restaurant operator’s stock after selling 28,964 shares during the period. Federated Hermes Inc.’s holdings in Wingstop were worth $110,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Quaker Wealth Management LLC boosted its holdings in shares of Wingstop by 134.2% in the 2nd quarter. Quaker Wealth Management LLC now owns 104 shares of the restaurant operator’s stock worth $35,000 after buying an additional 408 shares during the last quarter. Ameriflex Group Inc. bought a new stake in Wingstop in the second quarter worth about $43,000. Hantz Financial Services Inc. boosted its stake in Wingstop by 4,200.0% in the second quarter. Hantz Financial Services Inc. now owns 129 shares of the restaurant operator’s stock valued at $43,000 after acquiring an additional 126 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Wingstop by 121.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after acquiring an additional 119 shares during the period. Finally, True Wealth Design LLC increased its stake in shares of Wingstop by 623.8% during the 2nd quarter. True Wealth Design LLC now owns 152 shares of the restaurant operator’s stock worth $51,000 after purchasing an additional 131 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently commented on WING. Zacks Research downgraded Wingstop from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Stifel Nicolaus dropped their price target on Wingstop from $300.00 to $290.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th. The Goldman Sachs Group decreased their price objective on Wingstop from $370.00 to $330.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Jefferies Financial Group restated a “buy” rating and issued a $350.00 price objective on shares of Wingstop in a research note on Monday, December 15th. Finally, Loop Capital began coverage on shares of Wingstop in a research report on Friday, January 9th. They set a “buy” rating and a $317.00 target price for the company. Four analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.00.

Wingstop Stock Down 0.8%

Shares of NASDAQ WING opened at $272.70 on Thursday. The company has a market cap of $7.58 billion, a P/E ratio of 44.41, a P/E/G ratio of 3.45 and a beta of 1.77. Wingstop Inc. has a 52 week low of $204.00 and a 52 week high of $388.14. The business has a 50-day simple moving average of $258.50 and a two-hundred day simple moving average of $274.97.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Tuesday, November 4th. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.18. Wingstop had a net margin of 25.51% and a negative return on equity of 16.17%. The firm had revenue of $175.74 million for the quarter, compared to the consensus estimate of $189.10 million. During the same period in the prior year, the firm posted $0.88 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts anticipate that Wingstop Inc. will post 4.18 EPS for the current year.

Wingstop Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 21st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, November 21st. Wingstop’s dividend payout ratio (DPR) is presently 19.54%.

Insider Activity at Wingstop

In other news, Director Kilandigalu Madati sold 269 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $259.97, for a total value of $69,931.93. Following the transaction, the director owned 5,283 shares of the company’s stock, valued at approximately $1,373,421.51. This represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.72% of the stock is owned by company insiders.

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.