Wingstop Inc. (NASDAQ:WING – Get Free Report) shares hit a new 52-week low on Wednesday . The stock traded as low as $100.13 and last traded at $100.84, with a volume of 2887113 shares traded. The stock had previously closed at $114.71.
Analysts Set New Price Targets
Several equities analysts recently issued reports on WING shares. Bank of America cut their price objective on shares of Wingstop from $264.00 to $234.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Morgan Stanley dropped their target price on Wingstop from $255.00 to $238.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Piper Sandler set a $173.00 target price on Wingstop in a research report on Wednesday, July 29th. Benchmark cut their price target on Wingstop from $285.00 to $245.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Sanford C. Bernstein lowered Wingstop from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $220.00 to $155.00 in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $238.48.
Wingstop Trading Up 2.7%
Wingstop (NASDAQ:WING – Get Free Report) last posted its earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 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 company had revenue of $185.56 million during the quarter, compared to analysts’ expectations of $190.25 million. During the same quarter in the prior year, the company posted $1.00 earnings per share. Wingstop’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, analysts predict that Wingstop Inc. will post 4.5 earnings per share for the current year.
Wingstop Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 5th. Stockholders of record on Saturday, August 15th were issued a dividend of $0.33 per share. The ex-dividend date was Friday, August 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. This is a boost from Wingstop’s previous quarterly dividend of $0.30. Wingstop’s dividend payout ratio (DPR) is currently 31.35%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Wingstop in the second quarter valued at about $481,314,000. Darsana Capital Partners LP grew its stake in shares of Wingstop by 20.0% during the second quarter. Darsana Capital Partners LP now owns 1,500,000 shares of the restaurant operator’s stock worth $260,115,000 after acquiring an additional 250,000 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Wingstop by 44.5% during the second quarter. Alyeska Investment Group L.P. now owns 942,943 shares of the restaurant operator’s stock valued at $163,516,000 after acquiring an additional 290,501 shares in the last quarter. Jupiter Topco LLC acquired a new position in shares of Wingstop during the second quarter valued at about $147,440,000. Finally, Geode Capital Management LLC increased its holdings in shares of Wingstop by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 564,017 shares of the restaurant operator’s stock valued at $134,537,000 after acquiring an additional 8,593 shares in the last quarter.
Wingstop Company Profile
Wingstop Inc is a fast-casual restaurant company specializing in cooked-to-order chicken wings and tenders. Its menu also includes fries, seasoned fries, dipping sauces, and beverages, with offerings built around a range of signature flavors and sauces. The company primarily operates through a franchise-based model.
Wingstop was founded in 1994 in Garland, Texas, and has expanded from its original location into a global restaurant brand. Its restaurants serve customers across the United States and in international markets through a network of franchised and company-operated locations.
Wingstop became a publicly traded company in 2015.
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