ING Groep NV Makes New $6.53 Million Investment in Wingstop Inc. (NASDAQ:WING)

ING Groep NV purchased a new position in shares of Wingstop Inc. (NASDAQ:WING) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 15,700 shares of the restaurant operator’s stock, valued at approximately $6,532,000. ING Groep NV owned 0.05% of Wingstop at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of WING. CWM LLC grew its stake in Wingstop by 206.6% in the second quarter. CWM LLC now owns 2,287 shares of the restaurant operator’s stock valued at $967,000 after acquiring an additional 1,541 shares during the period. Hancock Whitney Corp bought a new stake in shares of Wingstop in the first quarter valued at $1,696,000. Driehaus Capital Management LLC increased its stake in shares of Wingstop by 4.1% in the second quarter. Driehaus Capital Management LLC now owns 193,307 shares of the restaurant operator’s stock worth $81,703,000 after purchasing an additional 7,600 shares in the last quarter. Scientech Research LLC purchased a new position in Wingstop in the 2nd quarter valued at approximately $2,249,000. Finally, Ontario Teachers Pension Plan Board raised its stake in shares of Wingstop by 22.6% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,420 shares of the restaurant operator’s stock valued at $3,818,000 after purchasing an additional 1,921 shares during the period.

Wingstop Stock Performance

NASDAQ WING opened at $316.68 on Friday. Wingstop Inc. has a one year low of $223.30 and a one year high of $433.86. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 92.33, a PEG ratio of 3.08 and a beta of 1.76. The firm has a 50 day simple moving average of $376.42 and a 200-day simple moving average of $384.42.

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

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given 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 0.34%. Wingstop’s payout ratio is currently 31.49%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WING shares. Citigroup lifted their price target on Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Northcoast Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price target for the company in a report on Friday, November 1st. BMO Capital Markets boosted their target price on Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Piper Sandler decreased their price target on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, BTIG Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 target price on the stock in a report 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. Based on data from MarketBeat, Wingstop presently has an average rating of “Moderate Buy” and a consensus price target of $368.74.

Wingstop Company Profile

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.