Paloma Partners Management Co bought a new stake in shares of Wingstop Inc (NASDAQ:WING) during the second quarter, Holdings Channel reports. The fund bought 7,304 shares of the restaurant operator’s stock, valued at approximately $381,000.
A number of other hedge funds have also modified their holdings of the business. Swiss National Bank raised its holdings in Wingstop by 2.0% during the 1st quarter. Swiss National Bank now owns 50,500 shares of the restaurant operator’s stock valued at $2,385,000 after acquiring an additional 1,000 shares during the period. Legal & General Group Plc increased its holdings in shares of Wingstop by 2.2% in the first quarter. Legal & General Group Plc now owns 54,164 shares of the restaurant operator’s stock worth $2,559,000 after purchasing an additional 1,148 shares during the period. Prudential Financial Inc. increased its holdings in shares of Wingstop by 2.9% in the first quarter. Prudential Financial Inc. now owns 48,330 shares of the restaurant operator’s stock worth $2,283,000 after purchasing an additional 1,360 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of Wingstop by 4.6% in the first quarter. Great West Life Assurance Co. Can now owns 38,632 shares of the restaurant operator’s stock worth $1,824,000 after purchasing an additional 1,713 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Wingstop by 3.1% in the first quarter. Rhumbline Advisers now owns 66,640 shares of the restaurant operator’s stock worth $3,147,000 after purchasing an additional 1,996 shares during the period.
Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Wingstop from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 13th. Goldman Sachs Group cut shares of Wingstop from a “buy” rating to a “neutral” rating and upped their price target for the stock from $58.00 to $66.00 in a report on Tuesday, September 11th. BTIG Research cut shares of Wingstop from a “buy” rating to a “neutral” rating and set a $59.00 price target on the stock. in a report on Tuesday, September 4th. They noted that the move was a valuation call. Stifel Nicolaus upped their price target on shares of Wingstop from $58.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, August 27th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $70.00 price target (up previously from $59.00) on shares of Wingstop in a report on Wednesday, August 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $57.93.
WING opened at $68.29 on Thursday. The firm has a market capitalization of $1.96 billion, a P/E ratio of 93.32, a PEG ratio of 4.07 and a beta of 1.03. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of -1.53. Wingstop Inc has a 52 week low of $31.53 and a 52 week high of $70.74.
Wingstop (NASDAQ:WING) last released its earnings results on Thursday, August 2nd. The restaurant operator reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The business had revenue of $37.04 million for the quarter, compared to analysts’ expectations of $36.92 million. Wingstop had a negative return on equity of 24.63% and a net margin of 22.15%. The firm’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 earnings per share. sell-side analysts anticipate that Wingstop Inc will post 0.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Friday, August 31st. This is a boost from Wingstop’s previous quarterly dividend of $0.07. Wingstop’s dividend payout ratio is currently 48.65%.
In related news, insider Stacy Peterson sold 3,437 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $66.05, for a total value of $227,013.85. Following the transaction, the insider now owns 38,339 shares of the company’s stock, valued at $2,532,290.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Hislop sold 5,900 shares of the stock in a transaction on Friday, September 7th. The shares were sold at an average price of $69.11, for a total value of $407,749.00. The disclosure for this sale can be found here. In the last three months, insiders sold 32,708 shares of company stock worth $2,024,094. 1.70% of the stock is owned by insiders.
Wingstop Company Profile
Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of February 22, 2018, the company operated approximately 1,000 restaurants the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, and Colombia.
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