Capital World Investors Lowers Stock Holdings in Wingstop Inc. $WING

Capital World Investors lowered its stake in shares of Wingstop Inc. (NASDAQ:WING) by 51.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 357,284 shares of the restaurant operator’s stock after selling 383,612 shares during the period. Capital World Investors’ holdings in Wingstop were worth $85,209,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WING. SBI Securities Co. Ltd. grew its holdings in shares of Wingstop by 76.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock worth $33,000 after buying an additional 60 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in Wingstop by 197.9% in the 4th quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock valued at $34,000 after purchasing an additional 95 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in Wingstop by 54.3% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock valued at $36,000 after purchasing an additional 50 shares in the last quarter. Pinnacle Holdings LLC purchased a new stake in Wingstop in the 3rd quarter valued at approximately $47,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Wingstop by 121.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after purchasing an additional 119 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WING shares. Citigroup lowered their price objective on Wingstop from $230.00 to $229.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Wells Fargo & Company lowered their price objective on Wingstop from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. TD Cowen reaffirmed a “hold” rating and issued a $160.00 price objective on shares of Wingstop in a report on Thursday, June 4th. BTIG Research reaffirmed a “buy” rating and issued a $305.00 price objective on shares of Wingstop in a report on Thursday, May 28th. Finally, Truist Financial set a $374.00 price objective on Wingstop and gave the company a “buy” rating in a report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Wingstop presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.82.

Wingstop Price Performance

Shares of NASDAQ:WING opened at $143.86 on Wednesday. The business’s 50 day simple moving average is $156.50 and its 200-day simple moving average is $214.52. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 35.79, a price-to-earnings-growth ratio of 1.60 and a beta of 1.82. Wingstop Inc. has a 12 month low of $116.35 and a 12 month high of $388.14.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 EPS for the quarter, topping the consensus estimate of $1.02 by $0.16. The business had revenue of $183.73 million for the quarter, compared to analyst estimates of $187.82 million. Wingstop had a negative return on equity of 16.22% and a net margin of 15.77%.The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.99 EPS. On average, equities analysts anticipate that Wingstop Inc. will post 4.59 earnings per share for the current year.

Wingstop Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 15th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.8%. Wingstop’s payout ratio is 29.85%.

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.