Oppenheimer Asset Management Inc. purchased a new stake in Wingstop Inc. (NASDAQ:WING – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 10,694 shares of the restaurant operator’s stock, valued at approximately $1,854,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. purchased a new stake in shares of Wingstop during the 2nd quarter worth approximately $919,000. Lecap Asset Management Ltd. acquired a new position in shares of Wingstop in the 2nd quarter valued at $360,000. Swiss Life Asset Management Ltd boosted its holdings in shares of Wingstop by 9.8% in the 2nd quarter. Swiss Life Asset Management Ltd now owns 1,719 shares of the restaurant operator’s stock valued at $298,000 after buying an additional 153 shares in the last quarter. Ausbil Investment Management Ltd purchased a new position in shares of Wingstop in the 2nd quarter valued at $1,085,000. Finally, Handelsbanken Fonder AB grew its position in shares of Wingstop by 14.7% in the 2nd quarter. Handelsbanken Fonder AB now owns 8,564 shares of the restaurant operator’s stock valued at $1,485,000 after buying an additional 1,100 shares during the last quarter.
Wingstop Price Performance
WING stock opened at $126.12 on Monday. The company has a fifty day moving average price of $146.16 and a 200 day moving average price of $176.79. Wingstop Inc. has a 12 month low of $110.44 and a 12 month high of $345.81. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 1.50 and a beta of 1.81.
Wingstop Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 5th. Stockholders of record on Saturday, August 15th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. This is a positive change from Wingstop’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, August 14th. Wingstop’s payout ratio is currently 31.35%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on WING shares. TD Cowen reissued a “hold” rating on shares of Wingstop in a research report on Wednesday, July 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Wingstop in a report on Monday, August 3rd. Sanford C. Bernstein cut Wingstop from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $220.00 to $155.00 in a research report on Monday, August 3rd. BTIG Research reduced their target price on Wingstop from $305.00 to $265.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, UBS Group reissued a “neutral” rating on shares of Wingstop in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.81.
Read Our Latest Report on Wingstop
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.
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