Wingstop Inc. (WING) Trading Down 9%
Wingstop Inc. (NASDAQ:WING) traded down 9% during mid-day trading on Friday . The company traded as low as $25.26 and last traded at $25.55, with a volume of 331,544 shares changing hands. The stock had previously closed at $28.07.
A number of equities research analysts recently issued reports on the stock. Jefferies Group reissued a “buy” rating and issued a $30.00 price objective (up previously from $28.00) on shares of Wingstop in a report on Saturday, May 7th. Cowen and Company assumed coverage on shares of Wingstop in a report on Tuesday, April 19th. They issued an “outperform” rating and a $34.00 price objective for the company. Goldman Sachs Group Inc. raised shares of Wingstop from a “neutral” rating to a “buy” rating and upped their price objective for the company from $27.00 to $28.00 in a report on Friday, April 1st. Zacks Investment Research lowered shares of Wingstop from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Finally, Wells Fargo & Co. reissued a “market perform” rating and issued a $26.00 price objective on shares of Wingstop in a report on Saturday, July 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Wingstop has an average rating of “Buy” and an average target price of $29.89.
The firm has a market cap of $735.06 million and a price-to-earnings ratio of 61.71. The stock has a 50 day moving average of $27.41 and a 200 day moving average of $24.74.
Wingstop (NASDAQ:WING) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $22.10 million for the quarter, compared to analyst estimates of $21.46 million. The firm’s revenue was up 16.3% on a year-over-year basis. Equities analysts expect that Wingstop Inc. will post $0.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Tuesday, July 12th will be paid a dividend of $2.90 per share. This represents a $11.60 annualized dividend and a dividend yield of 45.19%. The ex-dividend date of this dividend is Friday, July 8th.
In other news, insider David A. Vernon sold 17,206 shares of Wingstop stock in a transaction on Monday, June 20th. The stock was sold at an average price of $27.57, for a total transaction of $474,369.42. Following the completion of the transaction, the insider now owns 78,169 shares of the company’s stock, valued at approximately $2,155,119.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO William Engen sold 4,340 shares of Wingstop stock in a transaction on Monday, June 27th. The stock was sold at an average price of $25.85, for a total value of $112,189.00. Following the transaction, the chief operating officer now directly owns 11,200 shares of the company’s stock, valued at approximately $289,520. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Nationwide Fund Advisors increased its position in Wingstop by 31.6% in the fourth quarter. Nationwide Fund Advisors now owns 46,687 shares of the company’s stock valued at $1,065,000 after buying an additional 11,212 shares during the period. OppenheimerFunds Inc. increased its position in Wingstop by 10.8% in the fourth quarter. OppenheimerFunds Inc. now owns 316,201 shares of the company’s stock valued at $7,213,000 after buying an additional 30,891 shares during the period. JW Asset Management LLC increased its position in Wingstop by 87.0% in the fourth quarter. JW Asset Management LLC now owns 116,057 shares of the company’s stock valued at $2,647,000 after buying an additional 54,000 shares during the period. Numeric Investors LLC increased its position in Wingstop by 238.8% in the fourth quarter. Numeric Investors LLC now owns 116,398 shares of the company’s stock valued at $2,655,000 after buying an additional 82,040 shares during the period. Finally, Wells Fargo & Company MN increased its position in Wingstop by 25.3% in the fourth quarter. Wells Fargo & Company MN now owns 437,661 shares of the company’s stock valued at $9,984,000 after buying an additional 88,254 shares during the period.
Wingstop Inc (Wingstop) is a franchisor and operator of restaurants that specializes in hand-sauced and tossed chicken wings. The Company offers around 11 flavors on its bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides made fresh daily. The Company operates business through two segments, which include Franchise segment and Company segment.
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