Wingstop Inc. (NASDAQ:WING) Shares Sold by Kornitzer Capital Management Inc. KS

by · The Markets Daily

Kornitzer Capital Management Inc. KS trimmed its holdings in Wingstop Inc. (NASDAQ:WING – Free Report) by 27.5% during the third quarter, HoldingsChannel reports. The firm owned 15,776 shares of the restaurant operator’s stock after selling 5,985 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Wingstop were worth $6,564,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in WING. Millennium Management LLC boosted its stake in Wingstop by 284.1% during the second quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock worth $161,957,000 after buying an additional 283,412 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Wingstop by 36.6% during the 2nd quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock valued at $254,860,000 after acquiring an additional 161,600 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Wingstop by 66.6% during the 2nd quarter. AQR Capital Management LLC now owns 325,920 shares of the restaurant operator’s stock valued at $137,753,000 after acquiring an additional 130,248 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Wingstop by 3.7% in the first quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock valued at $1,071,473,000 after purchasing an additional 104,780 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Wingstop by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator’s stock worth $833,026,000 after purchasing an additional 101,917 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price target on shares of Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Stephens cut their target price on Wingstop from $490.00 to $468.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Piper Sandler decreased their price target on Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday. TD Cowen lowered their price target on Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Northcoast Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price objective on the stock in a report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $373.00.

Check Out Our Latest Report on WING

Wingstop Stock Performance

Shares of Wingstop stock opened at $331.89 on Friday. The business has a 50-day simple moving average of $381.45 and a 200-day simple moving average of $385.89. Wingstop Inc. has a one year low of $204.01 and a one year high of $433.86. The company has a market cap of $9.69 billion, a PE ratio of 96.76, a P/E/G ratio of 2.94 and a beta of 1.76.

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

Wingstop Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Friday, November 15th. Wingstop’s dividend payout ratio is presently 31.49%.

About Wingstop

(Free Report)

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.

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