Ameriprise Financial Inc. Sells 6,488 Shares of Wingstop Inc. (WING)
Ameriprise Financial Inc. reduced its stake in Wingstop Inc. (NASDAQ:WING) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 208,789 shares of the company’s stock after selling 6,488 shares during the period. Ameriprise Financial Inc. owned 0.73% of Wingstop worth $5,690,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Wingstop by 59.4% in the first quarter. Wellington Management Group LLP now owns 1,968,024 shares of the company’s stock valued at $44,635,000 after buying an additional 733,201 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Wingstop during the first quarter valued at about $13,551,000. California State Teachers Retirement System raised its position in shares of Wingstop by 134.2% in the second quarter. California State Teachers Retirement System now owns 33,002 shares of the company’s stock valued at $899,000 after buying an additional 18,912 shares during the period. BlackRock Group LTD acquired a new position in shares of Wingstop during the first quarter valued at about $3,004,000. Finally, Franklin Resources Inc. raised its position in shares of Wingstop by 5.5% in the first quarter. Franklin Resources Inc. now owns 1,194,419 shares of the company’s stock valued at $27,090,000 after buying an additional 61,785 shares during the period. Institutional investors own 58.92% of the company’s stock.
Shares of Wingstop Inc. (NASDAQ:WING) traded up 0.46% during trading on Thursday, hitting $28.15. The stock had a trading volume of 55,950 shares. The stock’s 50 day moving average price is $29.56 and its 200-day moving average price is $27.39. Wingstop Inc. has a one year low of $20.31 and a one year high of $33.10. The stock has a market cap of $808.69 million, a P/E ratio of 53.62 and a beta of 0.63.
Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. The firm earned $22.70 million during the quarter, compared to analysts’ expectations of $22.05 million. Wingstop had a net margin of 18.15% and a negative return on equity of 218.88%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the company posted $0.11 EPS. Analysts expect that Wingstop Inc. will post $0.56 earnings per share for the current fiscal year.
Several research analysts have issued reports on WING shares. Morgan Stanley restated a “buy” rating and set a $38.00 target price on shares of Wingstop in a research report on Friday, August 5th. Jefferies Group restated a “buy” rating and set a $30.00 target price on shares of Wingstop in a research report on Monday, August 8th. Goldman Sachs Group Inc. boosted their price target on Wingstop from $29.00 to $33.00 and gave the company a “buy” rating in a report on Friday, August 12th. Zacks Investment Research raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Thursday, September 1st. Finally, Wells Fargo & Co. reissued a “market perform” rating and issued a $26.00 price objective on shares of Wingstop in a research note on Saturday, July 2nd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $32.27.
In related news, insider David A. Vernon sold 6,540 shares of the stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $28.70, for a total transaction of $187,698.00. Following the completion of the transaction, the insider now owns 80,349 shares of the company’s stock, valued at approximately $2,306,016.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Neal K. Aronson sold 6,000,000 shares of the stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $28.50, for a total transaction of $171,000,000.00. The disclosure for this sale can be found here. Corporate insiders own 45.70% of the company’s stock.
Wingstop Inc is a franchisor and operator of restaurants that specialize in cooked-to-order, hand-sauced and tossed chicken wings. The Company offers its guests with over 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides. It is a casual chicken wings-focused restaurant chain with various concepts, which include wings as add-on menu items or focus on wings in a bar or sports-centric setting.
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