Wingstop Inc. (WING) Shares Down 2%
Shares of Wingstop Inc. (NASDAQ:WING) fell 2% during trading on Tuesday . The company traded as low as $26.37 and last traded at $26.53, with a volume of 66,551 shares trading hands. The stock had previously closed at $27.08.
A number of brokerages have commented on WING. Robert W. Baird began coverage on shares of Wingstop in a research note on Sunday, May 8th. They issued a “buy” rating for the company. 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 issued an “outperform” rating and a $35.00 price target for the company. Wells Fargo & Co. reiterated a “market perform” rating and issued a $26.00 price target (up previously from $24.00) on shares of Wingstop in a research note on Thursday, June 9th. Finally, Jefferies Group reiterated a “buy” rating and issued a $30.00 price target (up previously from $28.00) on shares of Wingstop in a research note on Saturday, May 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $29.89.
The firm has a market cap of $750.81 million and a price-to-earnings ratio of 63.03. The company has a 50-day moving average price of $27.06 and a 200-day moving average price of $25.02.
Wingstop (NASDAQ:WING) last announced its 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 earned $22.10 million during the quarter, compared to analysts’ expectations of $21.46 million. Wingstop’s revenue for the quarter was up 16.3% compared to the same quarter last year. On average, equities research analysts anticipate that Wingstop Inc. will post $0.54 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Tuesday, July 12th were given a $2.90 dividend. The ex-dividend date was Friday, July 8th. This represents a $11.60 annualized dividend and a yield of 44.24%.
In other Wingstop news, COO William Engen sold 4,340 shares of the firm’s stock in a transaction dated 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 $289,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Vernon sold 17,206 shares of the firm’s stock in a transaction dated Monday, June 20th. The stock was sold at an average price of $27.57, for a total value of $474,369.42. Following the completion of the transaction, the insider now directly owns 78,169 shares in the company, valued at $2,155,119.33. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Morgan Stanley boosted its position 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 last quarter. Wells Fargo & Company MN boosted its position 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 last quarter. OppenheimerFunds Inc. boosted its position 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 last quarter. Finally, Nationwide Fund Advisors boosted its position 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 last quarter.
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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