New York State Teachers Retirement System Holds $14.09 Million in Wingstop Inc.

As of November 3rd, 2024, the New York State Teachers Retirement System has reduced its stake in Wingstop Inc. (NASDAQ:WING) by 0.6% during the third quarter of this year, according to a report from Holdings Channel. After selling 205 shares during this period, the retirement system now holds 33,859 shares of Wingstop, with a total value of approximately $14,088,000 as reflected in their latest SEC filing.

Recently, various institutional investors have adjusted their positions in Wingstop as well. The Vanguard Group Inc. increased its holdings in Wingstop by 3.7% in the first quarter, now owning 2,924,326 shares valued at $1,071,473,000 after acquiring an additional 104,780 shares. Price T. Rowe Associates Inc. MD also raised its stake by 4.7% during the same quarter, holding 2,273,542 shares valued at $833,026,000 after purchasing an additional 101,917 shares.

Renaissance Technologies LLC significantly boosted its holdings by 36.6% in the second quarter, securing 602,990 shares valued at $254,860,000 after an additional purchase of 161,600 shares. Massachusetts Financial Services Co. MA increased its holdings by 2.8% during the same quarter, now owning 600,905 shares valued at $253,979,000 after acquiring an additional 16,526 shares. Furthermore, Millennium Management LLC raised its holdings dramatically by 284.1% in the second quarter, now possessing 383,184 shares valued at $161,957,000 after purchasing 283,412 shares.

Recent Analyst Ratings

Several equity research analysts have recently made updates regarding their perspectives on Wingstop's stock. BMO Capital Markets raised its price target for Wingstop shares from $345.00 to $360.00, maintaining a “market perform” rating as of August 1st. Barclays revised its target price lower from $470.00 to $380.00, giving an “overweight” rating on the stock. Meanwhile, Morgan Stanley increased its target price for Wingstop from $390.00 to $400.00, assigning an “equal weight” rating in a report dated July 16th. Northcoast Research upgraded the stock from a “neutral” rating to a “buy” rating, establishing a new target price of $350.00.

Goldman Sachs also increased its target price from $407.00 to $458.00, maintaining a “neutral” rating as of August 1st. Overall, the consensus indicates that seven analysts have rated Wingstop with a hold rating, while twelve have issued buy ratings, resulting in an average rating of “Moderate Buy” and a consensus price target around $379.58, as per MarketBeat.com data.

Insider Activity

In related news, Senior Vice President Donnie Upshaw sold 3,199 shares of Wingstop in a transaction dated August 8th, with an average selling price of $372.71, totaling about $1,192,299.29. Following this sale, Upshaw owns 97 shares valued at roughly $36,152.87, indicating a minimal decrease in their ownership. This transaction has been disclosed in filings with the Securities & Exchange Commission, which are publicly accessible. Currently, corporate insiders hold about 0.36% of the company’s stock.

Current Stock Performance

On Friday, shares of Wingstop (NASDAQ:WING) opened at $296.94. The company has a market capitalization of $8.67 billion, a P/E ratio of 86.57, and a P/E/G ratio of 2.74 with a beta of 1.76. Wingstop's stock shows a 50-day simple moving average at $388.10 and a two-hundred-day simple moving average of $387.14. Over the past year, the stock reached a low of $196.54 and a high of $433.86.

Wingstop recently reported its quarterly earnings on October 30th, indicating an EPS of $0.88 for the quarter, which fell short of the consensus estimate of $0.97 by $0.09. The company's revenue for the quarter was $162.50 million, outperforming the consensus estimate of $160.24 million. The reported net margin stood at 17.05%, accompanied by a negative return on equity of 22.69%. Moreover, Wingstop's revenue grew by 38.8% from the same quarter in the previous year, compared to the last year’s EPS of $0.69. Analysts project that the company will achieve an EPS of 3.79 for the current fiscal year.

Wingstop's Dividend Announcement

Additionally, Wingstop has revealed a quarterly dividend of $0.27 per share to be distributed on December 6th, for stockholders recorded on November 15th. The ex-dividend date for this dividend is the same day, November 15th. This equates to an annualized dividend of $1.08, yielding a dividend yield of 0.36%. Currently, the dividend payout ratio (DPR) for Wingstop is around 31.49%.

About Wingstop Inc.

Wingstop Inc. operates through its franchises, offering a variety of chicken products, such as traditional and boneless wings, tenders, and chicken sandwiches along with sides, all cooked to order in different flavors.

Conclusion

Overall, Wingstop Inc. appears to be a company of interest for both institutional investors and analysts, showcasing various movements in shares, dividends, and market performance.

investment, retirement, Wingstop