Retirement Systems of Alabama cut its stake in shares of Wingstop Inc. (NASDAQ:WING – Free Report) by 17.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 28,167 shares of the restaurant operator’s stock after selling 5,898 shares during the period. Retirement Systems of Alabama’s holdings in Wingstop were worth $4,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. increased its stake in Wingstop by 76.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock valued at $33,000 after buying an additional 60 shares during the period. Rakuten Securities Inc. raised its position in Wingstop by 197.9% during the 4th quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock worth $34,000 after buying an additional 95 shares during the last quarter. GW&K Investment Management LLC lifted its stake in shares of Wingstop by 75.7% in the 4th 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 stake in shares of Wingstop in the 2nd quarter worth $46,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Wingstop by 121.4% in the first quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after acquiring an additional 119 shares in the last quarter.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on WING shares. DA Davidson dropped their price target on shares of Wingstop from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Morgan Stanley reduced their price objective on shares of Wingstop from $255.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Bank of America lowered their price objective on Wingstop from $264.00 to $234.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Barclays dropped 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. Finally, TD Cowen reissued a “hold” rating on shares of Wingstop in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Wingstop has an average rating of “Moderate Buy” and a consensus price target of $241.81.
Wingstop Stock Up 1.6%
NASDAQ:WING opened at $113.90 on Friday. Wingstop Inc. has a fifty-two week low of $110.44 and a fifty-two week high of $345.81. The stock has a market cap of $3.10 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 1.33 and a beta of 1.81. The firm’s fifty day simple moving average is $146.48 and its 200-day simple moving average is $177.83.
Wingstop (NASDAQ:WING – Get Free Report) last announced its quarterly earnings results 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 business had revenue of $185.56 million during the quarter, compared to the consensus estimate of $190.25 million. During the same quarter last year, the firm posted $1.00 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. Equities analysts anticipate that Wingstop Inc. will post 4.5 earnings per share for the current year.
Wingstop Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, September 5th. Shareholders of record on Saturday, August 15th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.2%. This is a boost from Wingstop’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, August 14th. Wingstop’s dividend payout ratio is 28.50%.
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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