Shares of Wingstop Inc. (NASDAQ:WING – Get Free Report) dropped 8% on Monday . The company traded as low as $117.78 and last traded at $116.0240. 131,532 shares traded hands during trading, a decline of 89% from the average session volume of 1,170,119 shares. The stock had previously closed at $126.12.
Wall Street Analysts Forecast Growth
WING has been the subject of several research reports. BTIG Research lowered their price objective on shares of Wingstop from $305.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Guggenheim cut their price objective on shares of Wingstop from $255.00 to $215.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Sanford C. Bernstein lowered Wingstop from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $220.00 to $155.00 in a research report on Monday, August 3rd. Stephens reaffirmed an “overweight” rating and set a $200.00 price target on shares of Wingstop in a research report on Thursday, July 30th. Finally, DA Davidson dropped their price objective on shares of Wingstop from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $241.81.
Check Out Our Latest Report on Wingstop
Wingstop Price Performance
Wingstop (NASDAQ:WING – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. The firm had revenue of $185.56 million during the quarter, compared to analyst estimates of $190.25 million. During the same quarter in the prior year, the firm posted $1.00 earnings per share. Wingstop’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, research analysts forecast that Wingstop Inc. will post 4.5 EPS for the current year.
Wingstop Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Saturday, September 5th. Stockholders of record on Saturday, August 15th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Wingstop’s previous quarterly dividend of $0.30. Wingstop’s payout ratio is 31.35%.
Institutional Trading of Wingstop
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vident Advisory LLC boosted its stake in Wingstop by 3.9% during the 4th quarter. Vident Advisory LLC now owns 959 shares of the restaurant operator’s stock worth $229,000 after acquiring an additional 36 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Wingstop by 1.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,628 shares of the restaurant operator’s stock valued at $627,000 after purchasing an additional 45 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Wingstop by 1.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 5,672 shares of the restaurant operator’s stock valued at $879,000 after purchasing an additional 59 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Wingstop by 76.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock worth $33,000 after purchasing an additional 60 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Wingstop by 1.5% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 4,784 shares of the restaurant operator’s stock worth $1,141,000 after purchasing an additional 70 shares during the period.
About Wingstop
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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