BlackRock Inc. lessened its holdings in Wingstop Inc. (NASDAQ:WING) by 24.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,436,697 shares of the restaurant operator’s stock after selling 1,084,913 shares during the period. BlackRock Inc. owned approximately 11.58% of Wingstop worth $469,624,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in WING. Envestnet Asset Management Inc. lifted its stake in shares of Wingstop by 16.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 7,988 shares of the restaurant operator’s stock valued at $1,110,000 after purchasing an additional 1,112 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Wingstop in the 2nd quarter valued at $931,000. New York State Teachers Retirement System lifted its stake in shares of Wingstop by 0.4% in the 2nd quarter. New York State Teachers Retirement System now owns 39,772 shares of the restaurant operator’s stock valued at $5,527,000 after purchasing an additional 152 shares during the last quarter. First Trust Advisors LP lifted its stake in Wingstop by 243.3% during the 2nd quarter. First Trust Advisors LP now owns 22,731 shares of the restaurant operator’s stock worth $3,159,000 after acquiring an additional 16,109 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new position in Wingstop during the 2nd quarter worth about $1,483,000.
Several equities analysts recently issued reports on the company. BMO Capital Markets decreased their target price on Wingstop from $170.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 3rd. Morgan Stanley increased their target price on Wingstop from $131.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 14th. BidaskClub raised Wingstop from a “sell” rating to a “hold” rating in a research note on Thursday, October 29th. SunTrust Banks increased their target price on Wingstop from $135.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Raymond James reissued a “hold” rating on shares of Wingstop in a research note on Tuesday, October 6th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $146.18.
Wingstop (NASDAQ:WING) last released its quarterly earnings data on Monday, November 2nd. The restaurant operator reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34. Wingstop had a negative return on equity of 14.61% and a net margin of 12.73%. The business had revenue of $64.00 million for the quarter, compared to the consensus estimate of $63.11 million. During the same quarter in the prior year, the business posted $0.20 EPS. The business’s revenue for the quarter was up 28.0% on a year-over-year basis. Analysts forecast that Wingstop Inc. will post 1.26 EPS for the current year.
The firm also recently disclosed a dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 20th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, November 19th. Wingstop’s payout ratio is currently 76.71%.
Wingstop Company Profile
Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced and tossed in various flavors. As of November 03, 2020, the company operated and franchised 1,500 restaurants worldwide.
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