Wingstop Inc. (WING) Shares Up 1.6%
Shares of Wingstop Inc. (NASDAQ:WING) shot up 1.6% on Tuesday . The company traded as high as $26.23 and last traded at $26.23, with a volume of 168,074 shares trading hands. The stock had previously closed at $25.82.
A number of research firms recently weighed in on WING. Zacks Investment Research cut shares of Wingstop from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Wedbush began coverage on shares of Wingstop in a research note on Wednesday, July 6th. They set an “outperform” rating and a $35.00 price objective on the stock. Wells Fargo & Co. reaffirmed a “market perform” rating and set a $26.00 price objective on shares of Wingstop in a research note on Saturday, July 2nd. Robert W. Baird reaffirmed an “outperform” rating on shares of Wingstop in a research note on Tuesday, June 28th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $30.00 price objective (up from $28.00) on shares of Wingstop in a research note on Saturday, May 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. Wingstop presently has an average rating of “Buy” and an average price target of $29.89.
The company has a market cap of $749.81 million and a P/E ratio of 62.945. The stock has a 50-day moving average price of $27.26 and a 200 day moving average price of $24.89.
Wingstop (NASDAQ:WING) last posted its earnings results on Thursday, May 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $22.10 million for the quarter, compared to analyst estimates of $21.46 million. The business’s revenue was up 16.3% on a year-over-year basis. Equities research analysts anticipate that Wingstop Inc. will post $0.54 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Tuesday, July 12th were paid a dividend of $2.90 per share. This represents a $11.60 dividend on an annualized basis and a dividend yield of 44.93%. The ex-dividend date was Friday, July 8th.
In other Wingstop news, insider Stacy Peterson sold 6,268 shares of Wingstop stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $25.85, for a total value of $162,027.80. Following the completion of the sale, the insider now owns 30,618 shares in the company, valued at approximately $791,475.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO William Engen sold 4,340 shares of Wingstop stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $25.85, for a total transaction of $112,189.00. Following the completion of the sale, the chief operating officer now 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 have modified their holdings of the company. Nationwide Fund Advisors boosted its stake in shares of 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. boosted its stake in shares of 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 boosted its stake in shares of 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. Morgan Stanley boosted its stake in shares of Wingstop by 27.9% in the fourth quarter. Morgan Stanley now owns 448,853 shares of the company’s stock valued at $10,238,000 after buying an additional 98,044 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of 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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