Primecap Management Co. CA bought a new position in shares of Wingstop Inc. (NASDAQ:WING – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,100 shares of the restaurant operator’s stock, valued at approximately $6,260,000.
A number of other hedge funds have also recently added to or reduced their stakes in WING. BlackRock Inc. acquired a new position in shares of Wingstop during the 2nd quarter valued at about $481,314,000. Price T Rowe Associates Inc. MD boosted its position in shares of Wingstop by 2.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,111,089 shares of the restaurant operator’s stock worth $503,475,000 after acquiring an additional 58,386 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Wingstop by 6.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,173,613 shares of the restaurant operator’s stock worth $279,895,000 after acquiring an additional 70,224 shares during the last quarter. Steadfast Capital Management LP grew its holdings in Wingstop by 296.2% in the third quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator’s stock valued at $239,227,000 after purchasing an additional 710,621 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Wingstop by 18.3% in the first quarter. Janus Henderson Group PLC now owns 798,616 shares of the restaurant operator’s stock valued at $123,761,000 after purchasing an additional 123,315 shares during the period.
Analysts Set New Price Targets
A number of research firms have weighed in on WING. Benchmark cut their price target on shares of Wingstop from $285.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. TD Cowen reissued a “hold” rating on shares of Wingstop in a research note on Wednesday, July 29th. UBS Group restated a “neutral” rating on shares of Wingstop in a report on Tuesday, July 14th. Stephens restated an “overweight” rating and set a $200.00 price objective on shares of Wingstop in a report on Thursday, July 30th. Finally, Mizuho cut their target price on Wingstop from $280.00 to $240.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Wingstop currently has an average rating of “Moderate Buy” and an average target price of $241.81.
Wingstop Stock Performance
Shares of NASDAQ:WING opened at $112.24 on Thursday. The business’s 50-day simple moving average is $140.06 and its 200 day simple moving average is $167.97. The company has a market cap of $3.06 billion, a P/E ratio of 26.66, a PEG ratio of 1.35 and a beta of 1.81. Wingstop Inc. has a one year low of $110.44 and a one year high of $342.10.
Wingstop (NASDAQ:WING – Get Free Report) last announced its earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.16. The business had revenue of $185.56 million during 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 business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 earnings per share. Analysts predict that Wingstop Inc. will post 4.5 earnings per share for the current year.
Wingstop Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Saturday, September 5th. Stockholders of record on Saturday, August 15th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Wingstop’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.2%. Wingstop’s dividend payout ratio is 31.35%.
Wingstop 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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