Wingstop (NASDAQ:WING) Shares Up 3.8%

Shares of Wingstop Inc. (NASDAQ:WING) were up 3.8% on Thursday . The stock traded as high as $165.49 and last traded at $165.49. Approximately 4,175 shares were traded during trading, a decline of 99% from the average daily volume of 278,528 shares. The stock had previously closed at $159.48.

Several research firms recently issued reports on WING. Stephens started coverage on shares of Wingstop in a research report on Monday, April 19th. They issued an “overweight” rating and a $172.00 target price on the stock. Cowen boosted their price objective on shares of Wingstop from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, June 16th. Wedbush upped their price objective on Wingstop from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, April 29th. BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a report on Thursday, June 10th. Finally, Morgan Stanley boosted their price target on Wingstop from $150.00 to $161.00 and gave the company an “equal weight” rating in a research report on Thursday, April 29th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $165.47.

The company’s 50 day moving average is $148.33. The stock has a market cap of $4.87 billion, a P/E ratio of 166.13, a PEG ratio of 10.29 and a beta of 1.31.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, April 28th. The restaurant operator reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.13. Wingstop had a net margin of 10.74% and a negative return on equity of 15.26%. The business had revenue of $70.70 million during the quarter, compared to analyst estimates of $69.31 million. During the same period last year, the business earned $0.27 EPS. The business’s revenue was up 27.5% on a year-over-year basis. On average, sell-side analysts anticipate that Wingstop Inc. will post 1.4 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 4th. Stockholders of record on Friday, May 14th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, May 13th. This represents a $0.56 annualized dividend and a dividend yield of 0.34%. Wingstop’s dividend payout ratio is presently 51.38%.

In other news, CFO Michael Skipworth sold 4,500 shares of the stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $159.49, for a total transaction of $717,705.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles R. Morrison sold 6,500 shares of the business’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $142.01, for a total transaction of $923,065.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,000 shares of company stock worth $2,095,570. Corporate insiders own 0.61% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in WING. Pier Capital LLC lifted its holdings in Wingstop by 29.7% in the first quarter. Pier Capital LLC now owns 94,829 shares of the restaurant operator’s stock worth $12,059,000 after acquiring an additional 21,729 shares during the last quarter. Capital Fund Management S.A. bought a new stake in shares of Wingstop in the 1st quarter worth approximately $1,912,000. Fred Alger Management LLC boosted its position in Wingstop by 0.8% during the 1st quarter. Fred Alger Management LLC now owns 1,755,989 shares of the restaurant operator’s stock valued at $223,309,000 after purchasing an additional 14,362 shares during the period. BlackRock Inc. increased its position in Wingstop by 9.9% in the first quarter. BlackRock Inc. now owns 3,788,781 shares of the restaurant operator’s stock worth $481,818,000 after buying an additional 339,858 shares during the period. Finally, Artisan Partners Limited Partnership lifted its stake in Wingstop by 70.8% in the first quarter. Artisan Partners Limited Partnership now owns 748,018 shares of the restaurant operator’s stock valued at $95,125,000 after buying an additional 310,044 shares during the last quarter.

Wingstop Company Profile (NASDAQ:WING)

Wingstop, Inc is a franchisor and operator of restaurants, which engages in the provision of cooked-to-order, hand-sauced, and tossed chicken wings. It operates through Franchise and Company segments. The Franchise segment consists of domestic and international franchise restaurants. The Company segment comprises company-owned restaurants.

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