Harvest Fund Management Co. Ltd Sells 1,862 Shares of Wingstop Inc. (NASDAQ:WING)

Harvest Fund Management Co. Ltd lowered its position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 76.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 584 shares of the restaurant operator's stock after selling 1,862 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Wingstop were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of WING. Janus Henderson Group PLC grew its stake in Wingstop by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 16,442 shares of the restaurant operator's stock valued at $6,020,000 after purchasing an additional 81 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Wingstop by 1,272.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 20,648 shares of the restaurant operator's stock valued at $7,565,000 after buying an additional 19,143 shares during the period. Tidal Investments LLC purchased a new stake in Wingstop during the first quarter worth about $1,248,000. Hancock Whitney Corp bought a new stake in Wingstop in the first quarter worth about $1,696,000. Finally, Comerica Bank boosted its stake in Wingstop by 19.9% in the first quarter. Comerica Bank now owns 52,204 shares of the restaurant operator's stock valued at $19,128,000 after acquiring an additional 8,674 shares during the last quarter.

Wingstop Trading Up 0.5 %

WING stock opened at $338.79 on Wednesday. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of 98.77, a PEG ratio of 3.14 and a beta of 1.76. The firm's 50-day moving average price is $369.86 and its two-hundred day moving average price is $381.97. Wingstop Inc. has a 12-month low of $229.27 and a 12-month high of $433.86.

Wingstop (NASDAQ:WING - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $160.24 million. During the same period in the previous year, the company earned $0.69 EPS. The company's revenue for the quarter was up 38.8% on a year-over-year basis. Equities analysts predict that Wingstop Inc. will post 3.68 EPS for the current year.

Wingstop Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors 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 0.32%. The ex-dividend date of this dividend is Friday, November 15th. Wingstop's payout ratio is 31.49%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WING shares. BMO Capital Markets lifted their price target on shares of Wingstop from $345.00 to $360.00 and gave the stock a "market perform" rating in a report on Thursday, August 1st. TD Cowen reduced their price target on Wingstop from $450.00 to $365.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. The Goldman Sachs Group upgraded shares of Wingstop from a "neutral" rating to a "buy" rating and cut their price objective for the company from $458.00 to $377.00 in a research report on Friday, November 8th. Stephens decreased their target price on Wingstop from $490.00 to $468.00 and set an "overweight" rating on the stock in a research note on Thursday, October 31st. Finally, Truist Financial upped their price objective on shares of Wingstop from $407.00 to $423.00 and gave the stock a "hold" rating in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.