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

On November 3rd, 2024, it was reported that the New York State Teachers Retirement System has reduced its holdings in Wingstop Inc. (NASDAQ:WING) by 0.6% during the third quarter. After selling 205 shares, the retirement system now owns a total of 33,859 shares of the popular restaurant chain. The value of these shares is approximately $14,088,000, according to its latest filing with the Securities and Exchange Commission.

Other institutional investors have also made significant adjustments to their positions in Wingstop. The Vanguard Group Inc. increased its stake by 3.7% in the first quarter, acquiring an additional 104,780 shares. Following this, Vanguard now possesses 2,924,326 shares worth around $1,071,473,000. Similarly, Price T Rowe Associates raised its holdings by 4.7%, bringing their total to 2,273,542 shares valued at $833,026,000 after an additional purchase of 101,917 shares.

Renaissance Technologies LLC made a notable increase of 36.6% in its holdings during the second quarter, now owning 602,990 shares worth approximately $254,860,000. Additionally, Massachusetts Financial Services Co. MA raised its stake by 2.8%, resulting in a total of 600,905 shares valued at $253,979,000. Millennium Management LLC also significantly boosted its stake by 284.1%, now owning 383,184 shares valued at $161,957,000.

Analyst Ratings Update

Recent evaluations from equity research analysts have provided updates on Wingstop stock prices. BMO Capital Markets raised its target price from $345.00 to $360.00 while maintaining a “market perform” rating. Conversely, Barclays reduced its target from $470.00 to $380.00 but retains an “overweight” rating. Morgan Stanley increased its target price from $390.00 to $400.00 and categorized the stock as “equal weight.”

Northcoast Research upgraded Wingstop from a “neutral” to a “buy” rating with a target price of $350.00, while The Goldman Sachs Group adjusted its target from $407.00 to $458.00, giving it a “neutral” rating. Out of the analysts covering Wingstop, seven have a hold rating and twelve suggest buying the stock. MarketBeat.com shows that the consensus rating for Wingstop is a "Moderate Buy" with an average target price of $379.58.

Insider Trading Activity

In other developments, on August 8th, Senior Vice President Donnie Upshaw sold 3,199 shares at an average price of $372.71, resulting in a total value of just over $1.19 million. Following this transaction, Upshaw holds 97 shares valued at nearly $36,152.87, marking a negligible change in their overall position. Company insiders currently own about 0.36% of the total stock.

Wingstop Stock Performance

Wingstop shares opened at $296.94 on the last trading day, with a market cap of $8.67 billion. The stock shows a price-to-earnings (P/E) ratio of 86.57 and a price-to-earnings growth (P/E/G) ratio of 2.74. Its 50-day and 200-day simple moving averages stand at $388.10 and $387.14, respectively. The eighteen-month trading range has seen a low of $196.54 and a high of $433.86.

On October 30th, Wingstop announced its latest quarterly earnings, revealing earnings per share of $0.88, which fell short of the consensus estimate of $0.97 by nine cents. The company's revenue for the quarter amounted to $162.50 million, outpacing the expected $160.24 million. A 38.8% increase in revenue was noted compared to the same quarter last year. Analysts expect Wingstop Inc. to post an earnings per share (EPS) of 3.79 for the current fiscal year.

Dividend Information

Furthermore, Wingstop recently announced a quarterly dividend of $0.27 per share, scheduled to be paid on December 6th. Shareholders whose names are on the record by November 15th will receive this dividend. The ex-dividend date is also November 15th. This dividend equates to an annual yield of 0.36% and a dividend payout ratio of approximately 31.49%.

About Wingstop

Wingstop Inc., through its subsidiaries, franchises and operates restaurants under its brand. The restaurants specialize in serving classic wings, boneless wings, and chicken tenders, all offered in various flavors, including chicken sandwiches with fries, carrots, and celery cooked fresh to order.

NewYork, Investment, Wingstop