Hsbc Holdings PLC acquired a new stake in shares of Wingstop Inc. (NASDAQ:WING – Free Report) during the second quarter, HoldingsChannel.com reports. The firm acquired 9,256 shares of the restaurant operator’s stock, valued at approximately $1,558,000.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in Wingstop in the second quarter worth $481,314,000. TimesSquare Capital Management LLC bought a new position in shares of Wingstop during the second quarter valued at approximately $15,874,000. Carnegie Investment Counsel grew its position in Wingstop by 32.4% in the 1st quarter. Carnegie Investment Counsel now owns 68,489 shares of the restaurant operator’s stock valued at $10,614,000 after acquiring an additional 16,764 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Wingstop in the second quarter worth about $80,456,000. Finally, William Blair Investment Management LLC purchased a new position in shares of Wingstop during the second quarter worth approximately $19,130,000.
Wall Street Analyst Weigh In
A number of research analysts have commented on WING shares. BTIG Research cut their target price on shares of Wingstop from $305.00 to $265.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Morgan Stanley decreased their price target 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. Wall Street Zen upgraded shares of Wingstop from a “sell” rating to a “hold” rating in a report on Tuesday, July 14th. Royal Bank Of Canada cut their price objective on shares of Wingstop from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Finally, Stephens reiterated an “overweight” rating and set a $200.00 price objective on shares of Wingstop in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Wingstop has a consensus rating of “Moderate Buy” and an average target price of $241.81.
Wingstop Trading Down 3.6%
Shares of Wingstop stock opened at $109.48 on Tuesday. The firm’s 50 day simple moving average is $137.11 and its two-hundred day simple moving average is $164.64. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 1.35 and a beta of 1.81. Wingstop Inc. has a 12-month low of $105.43 and a 12-month high of $338.80.
Wingstop (NASDAQ:WING – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $1.18 EPS for the quarter, topping 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 revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 earnings per share. On average, sell-side analysts predict that Wingstop Inc. will post 4.5 EPS for the current fiscal year.
Wingstop Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Saturday, September 5th. Shareholders 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 represents a $1.32 dividend on an annualized basis and a yield of 1.2%. This is an increase from Wingstop’s previous quarterly dividend of $0.30. Wingstop’s payout ratio is presently 31.35%.
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.
See Also
- Five stocks we like better than Wingstop
- Securing AI: 5 Most-Upgraded Stocks From the Q2 Reporting Season
- Insiders Are Betting Big on These 3 Healthcare Stocks
- 3 Stocks for Investors Who Still Believe Cash Is King
- Dollar General and Dollar Tree Are Recovering, But Not for the Same Reason
Want to see what other hedge funds are holding WING? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wingstop Inc. (NASDAQ:WING – Free Report).
Receive News & Ratings for Wingstop Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wingstop and related companies with MarketBeat.com's FREE daily email newsletter.
