Wingstop Inc. $WING Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 7.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 221,239 shares of the restaurant operator’s stock after selling 16,535 shares during the period. Bank of New York Mellon Corp owned about 0.79% of Wingstop worth $74,500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in Wingstop by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,646,934 shares of the restaurant operator’s stock valued at $371,517,000 after purchasing an additional 496,717 shares during the last quarter. American Century Companies Inc. raised its position in shares of Wingstop by 4.7% in the 1st quarter. American Century Companies Inc. now owns 1,262,597 shares of the restaurant operator’s stock valued at $284,817,000 after purchasing an additional 56,535 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of Wingstop during the 1st quarter valued at approximately $212,672,000. Alyeska Investment Group L.P. boosted its stake in shares of Wingstop by 29.8% during the 1st quarter. Alyeska Investment Group L.P. now owns 693,115 shares of the restaurant operator’s stock valued at $156,353,000 after buying an additional 158,977 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its position in shares of Wingstop by 130.7% during the first quarter. Champlain Investment Partners LLC now owns 631,989 shares of the restaurant operator’s stock worth $142,564,000 after buying an additional 358,044 shares in the last quarter.

Wingstop Trading Down 2.6%

Shares of Wingstop stock opened at $238.18 on Monday. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 38.79, a PEG ratio of 3.27 and a beta of 1.73. Wingstop Inc. has a twelve month low of $204.00 and a twelve month high of $388.14. The business’s 50 day simple moving average is $259.99 and its 200-day simple moving average is $301.77.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Tuesday, November 4th. The restaurant operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.18. Wingstop had a negative return on equity of 16.17% and a net margin of 25.51%.The firm had revenue of $175.74 million during the quarter, compared to the consensus estimate of $189.10 million. During the same period in the prior year, the business earned $0.88 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. Sell-side analysts predict that Wingstop Inc. will post 4.18 earnings per share for the current year.

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be given a $0.30 dividend. The ex-dividend date is Friday, November 21st. This represents a $1.20 annualized dividend and a yield of 0.5%. Wingstop’s dividend payout ratio (DPR) is currently 19.54%.

Analyst Ratings Changes

A number of research analysts have commented on WING shares. Mizuho upgraded shares of Wingstop to a “strong-buy” rating in a research note on Tuesday, October 28th. Wall Street Zen lowered shares of Wingstop from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. TD Cowen decreased their price target on Wingstop from $320.00 to $280.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Bank of America lowered their price objective on Wingstop from $430.00 to $420.00 and set a “buy” rating for the company in a report on Friday, July 18th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $363.00 target price on shares of Wingstop in a report on Tuesday, November 4th. Five research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Wingstop presently has an average rating of “Moderate Buy” and an average target price of $335.96.

Wingstop Company Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.