Stephens Investment Management Group LLC trimmed its position in shares of Wingstop Inc (NASDAQ:WING) by 26.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 589,896 shares of the restaurant operator’s stock after selling 213,904 shares during the quarter. Wingstop accounts for approximately 1.1% of Stephens Investment Management Group LLC’s portfolio, making the stock its 25th largest holding. Stephens Investment Management Group LLC owned about 2.01% of Wingstop worth $55,893,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of WING. Manchester Capital Management LLC purchased a new position in Wingstop during the 1st quarter worth $40,000. First Mercantile Trust Co. bought a new stake in shares of Wingstop during the 1st quarter worth $209,000. Miles Capital Inc. bought a new stake in shares of Wingstop during the 1st quarter worth $216,000. Magnus Financial Group LLC bought a new stake in shares of Wingstop during the 1st quarter worth $221,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Wingstop during the 1st quarter worth $224,000.
In other news, insider Maurice Cooper sold 380 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $78.95, for a total transaction of $30,001.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lawrence Kruguer sold 1,466 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $79.72, for a total value of $116,869.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,846 shares of company stock worth $1,060,821. Company insiders own 1.00% of the company’s stock.
WING has been the topic of a number of recent analyst reports. Northcoast Research initiated coverage on Wingstop in a research note on Tuesday, July 30th. They set a “sell” rating on the stock. Morgan Stanley lifted their target price on Wingstop from $80.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. BidaskClub upgraded Wingstop from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. BMO Capital Markets reiterated an “outperform” rating and set a $108.00 target price (up from $84.00) on shares of Wingstop in a research note on Monday, June 24th. Finally, Zacks Investment Research cut Wingstop from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $89.93.
Wingstop stock traded up $0.21 during midday trading on Thursday, reaching $98.12. The stock had a trading volume of 139,425 shares, compared to its average volume of 500,572. Wingstop Inc has a 12 month low of $56.95 and a 12 month high of $101.70. The business has a 50-day moving average of $95.59. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 116.81, a PEG ratio of 6.83 and a beta of 0.84.
Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Thursday, August 1st. The restaurant operator reported $0.17 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.17. Wingstop had a negative return on equity of 11.09% and a net margin of 11.54%. The business had revenue of $48.56 million for the quarter, compared to analysts’ expectations of $47.53 million. During the same period in the previous year, the business posted $0.23 EPS. The firm’s quarterly revenue was up 31.1% compared to the same quarter last year. As a group, equities analysts forecast that Wingstop Inc will post 0.73 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, August 29th. This is a boost from Wingstop’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. Wingstop’s dividend payout ratio is currently 42.86%.
Wingstop Company Profile
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 December 29, 2018, the company operated approximately 1,252 restaurants in the United States, Mexico, Panama, Singapore, Indonesia, the United Arab Emirates, the United Kingdom, Malaysia, Saudi Arabia, and Colombia.
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