Jennison Associates LLC Has $16.72 Million Holdings in Wingstop Inc (WING)

Jennison Associates LLC lowered its position in Wingstop Inc (NASDAQ:WING) by 33.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 320,709 shares of the restaurant operator’s stock after selling 159,655 shares during the period. Jennison Associates LLC owned approximately 1.10% of Wingstop worth $16,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Swiss National Bank lifted its stake in Wingstop by 2.0% in the first quarter. Swiss National Bank now owns 50,500 shares of the restaurant operator’s stock worth $2,385,000 after purchasing an additional 1,000 shares during the last quarter. Denver Investment Advisors LLC lifted its stake in Wingstop by 6.6% in the first quarter. Denver Investment Advisors LLC now owns 16,880 shares of the restaurant operator’s stock worth $797,000 after purchasing an additional 1,041 shares during the last quarter. Legal & General Group Plc lifted its stake in Wingstop by 2.2% in the first quarter. Legal & General Group Plc now owns 54,164 shares of the restaurant operator’s stock worth $2,559,000 after purchasing an additional 1,148 shares during the last quarter. Prudential Financial Inc. lifted its stake in Wingstop by 2.9% in the first quarter. Prudential Financial Inc. now owns 48,330 shares of the restaurant operator’s stock worth $2,283,000 after purchasing an additional 1,360 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Wingstop by 4.6% in the first quarter. Great West Life Assurance Co. Can now owns 38,632 shares of the restaurant operator’s stock worth $1,824,000 after purchasing an additional 1,713 shares during the last quarter.

Wingstop stock opened at $61.97 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of -1.53. Wingstop Inc has a fifty-two week low of $31.53 and a fifty-two week high of $62.19. The company has a market cap of $1.76 billion, a PE ratio of 83.74, a P/E/G ratio of 3.66 and a beta of 0.81.



Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Thursday, August 2nd. The restaurant operator reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Wingstop had a net margin of 22.15% and a negative return on equity of 24.63%. The firm had revenue of $37.04 million during the quarter, compared to the consensus estimate of $36.92 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. sell-side analysts predict that Wingstop Inc will post 0.84 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Friday, August 31st. This is an increase from Wingstop’s previous quarterly dividend of $0.07. Wingstop’s payout ratio is currently 37.84%.

In other news, insider Lawrence Kruguer sold 1,112 shares of Wingstop stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $51.73, for a total transaction of $57,523.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stacy Peterson sold 5,259 shares of Wingstop stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $58.87, for a total transaction of $309,597.33. Following the sale, the insider now directly owns 31,423 shares of the company’s stock, valued at approximately $1,849,872.01. The disclosure for this sale can be found here. Insiders have sold 50,624 shares of company stock valued at $2,824,091 in the last ninety days. Insiders own 1.70% of the company’s stock.

WING has been the subject of several analyst reports. Barclays raised their price objective on shares of Wingstop from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, August 6th. Zacks Investment Research downgraded shares of Wingstop from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Wedbush raised shares of Wingstop from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $51.00 to $59.00 in a research note on Thursday, June 7th. Morgan Stanley raised their price objective on shares of Wingstop from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, May 4th. Finally, BTIG Research initiated coverage on shares of Wingstop in a research note on Friday, April 20th. They issued a “buy” rating and a $59.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $53.79.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of February 22, 2018, the company operated approximately 1,000 restaurants the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, and Colombia.

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Institutional Ownership by Quarter for Wingstop (NASDAQ:WING)

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