Daiwa Securities Group Inc. Makes New $919,000 Investment in Wingstop Inc. $WING

Daiwa Securities Group Inc. acquired a new position in shares of Wingstop Inc. (NASDAQ:WINGFree Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,300 shares of the restaurant operator’s stock, valued at approximately $919,000.

Several other institutional investors have also recently made changes to their positions in WING. SBI Securities Co. Ltd. boosted its holdings in 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 in the last quarter. Rakuten Securities Inc. increased its holdings in Wingstop by 197.9% in the fourth quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock valued at $34,000 after buying an additional 95 shares in the last quarter. GW&K Investment Management LLC raised its position in shares of Wingstop by 75.7% in the fourth quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock worth $45,000 after acquiring an additional 81 shares during the period. Harbor Investment Advisory LLC acquired a new position in shares of Wingstop in the second quarter worth about $46,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Wingstop by 121.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock worth $49,000 after acquiring an additional 119 shares in the last quarter.

Wingstop Stock Up 10.7%

Wingstop stock opened at $126.12 on Friday. The company has a fifty day simple moving average of $146.16 and a 200-day simple moving average of $177.47. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 1.35 and a beta of 1.81. Wingstop Inc. has a 52-week low of $110.44 and a 52-week high of $345.81.

Wingstop (NASDAQ:WINGGet Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. The firm had revenue of $185.56 million for the quarter, compared to the consensus estimate of $190.25 million. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm posted $1.00 earnings per share. On average, research analysts anticipate that Wingstop Inc. will post 4.5 EPS for the current fiscal year.

Wingstop Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 5th. Shareholders of record on Saturday, August 15th will be paid a $0.33 dividend. This is a positive change from Wingstop’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. Wingstop’s dividend payout ratio is 28.50%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WING. Guggenheim cut their price target on Wingstop from $255.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Wells Fargo & Company reduced their target price on Wingstop from $170.00 to $165.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Barclays decreased their target price on Wingstop from $330.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Sanford C. Bernstein lowered shares of Wingstop from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $220.00 to $155.00 in a report on Monday, August 3rd. Finally, Bank of America reduced their price objective on shares of Wingstop from $264.00 to $234.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $241.81.

View Our Latest Analysis on WING

Wingstop Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Wingstop (NASDAQ:WING)

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