New York State Teachers Retirement System's Investment in Wingstop Inc.

As of the third quarter of the year, the New York State Teachers Retirement System has reduced its investment in Wingstop Inc. (NASDAQ:WING) by 0.6%. According to the latest report, the retirement system currently holds 33,859 shares of Wingstop after selling 205 shares during this period. The total value of their holdings is approximately $14.09 million, based on their most recent filing with the Securities and Exchange Commission (SEC).

Many other institutional investors have also adjusted their positions in Wingstop recently. For example, Vanguard Group Inc. increased its stake in Wingstop by 3.7% during the first quarter, now owning about 2,924,326 shares valued at approximately $1.07 billion after acquiring an additional 104,780 shares. Similarly, Price T Rowe Associates raised its holdings by 4.7%, now owning 2,273,542 shares valued at around $833 million after purchasing 101,917 more shares during the same timeframe.

Additionally, Renaissance Technologies LLC grew its stake by a significant 36.6% in the second quarter, owning 602,990 shares valued at $254.86 million after buying 161,600 shares. Massachusetts Financial Services also increased their holdings by 2.8% in the same quarter, bringing their total to 600,905 shares valued at approximately $253.98 million. Millennium Management LLC made a notable increase of 284.1%, now holding 383,184 shares valued at around $161.96 million following the acquisition of 283,412 shares.

Changes in Analyst Ratings

Recently, various equities research analysts have provided updates regarding their ratings for Wingstop. BMO Capital Markets increased their price target from $345.00 to $360.00 and maintained a “market perform” rating. Meanwhile, Barclays lowered their target from $470.00 to $380.00 but kept an “overweight” rating. Morgan Stanley) also raised their price target from $390.00 to $400.00, with a rating of “equal weight.” Northcoast Research upgraded their rating from “neutral” to “buy” with a target price of $350.00.

Furthermore, The Goldman Sachs Group increased their target from $407.00 to $458.00 while maintaining a “neutral” rating on the stock. Overall, seven analysts have rated Wingstop as a hold, while twelve others have issued buy ratings. According to MarketBeat.com, the average rating for Wingstop is “Moderate Buy” with a consensus price target of approximately $379.58.

Recent Insider Activity

In additional news, Donnie Upshaw, the Senior Vice President, sold 3,199 shares of Wingstop on August 8th at an average price of $372.71, leading to a total value of about $1.19 million from the transaction. After this sale, he holds only 97 shares valued at approximately $36,152.87. Corporate insiders currently own about 0.36% of Wingstop’s stock.

Wingstop Stock Performance

On Friday, shares of Wingstop (NASDAQ:WING) opened at $296.94. The company has a market capitalization of $8.67 billion and a price-to-earnings (P/E) ratio of 86.57, along with a P/E/G ratio of 2.74 and a beta of 1.76. The stock's 50-day simple moving average is $388.10, while the 200-day simple moving average is $387.14. Over the past year, Wingstop's stock has fluctuated significantly, with a low of $196.54 and a high of $433.86.

Recently, on October 30th, Wingstop announced financial results for the last quarter. The restaurant operator reported earnings per share (EPS) of $0.88, which fell short of the consensus estimate of $0.97 by $0.09. However, their revenue for the quarter was reported at $162.50 million, slightly exceeding expectations of $160.24 million. The company experienced a net margin of 17.05% and a negative return on equity of 22.69%. Compared to the previous year's quarter, Wingstop's revenue saw a substantial increase of 38.8%.

Wingstop's Dividend Announcement

The company has also recently announced a quarterly dividend of $0.27 per share, which will be paid on December 6th. Shareholders of record as of November 15th will receive this dividend. The dividend represents an annualized total of $1.08, yielding 0.36%. Currently, Wingstop's dividend payout ratio stands at 31.49%.

Company Overview

Wingstop Inc. franchises and operates restaurants under the Wingstop brand, specializing in offering a variety of chicken wings, boneless wings, tenders, and other chicken-based products, all prepared with unique sauces and flavors.

investment, WING, dividend