FORA Capital LLC Reduces Stock Position in Wingstop Inc. (NASDAQ:WING)

FORA Capital LLC trimmed its position in Wingstop Inc. (NASDAQ:WING) by 27.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,421 shares of the restaurant operator’s stock after selling 2,458 shares during the period. FORA Capital LLC’s holdings in Wingstop were worth $2,672,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Hollencrest Capital Management purchased a new stake in shares of Wingstop in the second quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Wingstop during the 2nd quarter valued at about $34,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Wingstop by 60.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after acquiring an additional 35 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Wingstop by 60.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 40 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Wingstop by 384.6% in the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock worth $53,000 after acquiring an additional 100 shares during the last quarter.

Wingstop Price Performance

Wingstop stock traded down $5.32 during midday trading on Wednesday, hitting $333.47. 34,745 shares of the stock were exchanged, compared to its average volume of 461,172. Wingstop Inc. has a 1 year low of $232.88 and a 1 year high of $433.86. The firm has a market cap of $9.74 billion, a P/E ratio of 98.77, a P/E/G ratio of 3.14 and a beta of 1.76. The company has a 50 day moving average price of $369.86 and a two-hundred day moving average price of $381.97.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The business had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. During the same quarter in the prior year, the business earned $0.69 earnings per share. The firm’s revenue was up 38.8% on a year-over-year basis. As a group, analysts predict that Wingstop Inc. will post 3.68 EPS for the current year.

Wingstop Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.08 annualized dividend and a yield of 0.32%. Wingstop’s dividend payout ratio is presently 31.49%.

Analysts Set New Price Targets

Several brokerages recently commented on WING. Benchmark raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price target for the company in a research report on Thursday, October 31st. Truist Financial upped their price objective on Wingstop from $407.00 to $423.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. TD Cowen reduced their target price on Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Piper Sandler dropped their price target on Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, Stephens reduced their price objective on Wingstop from $490.00 to $468.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $368.74.

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.