Retirement Systems of Alabama Cuts Position in Wingstop Inc. $WING

Retirement Systems of Alabama trimmed its position in shares of Wingstop Inc. (NASDAQ:WING) by 17.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,167 shares of the restaurant operator’s stock after selling 5,898 shares during the period. Retirement Systems of Alabama owned approximately 0.10% of Wingstop worth $4,884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Carnegie Investment Counsel boosted its stake in shares of Wingstop by 32.4% in the first quarter. Carnegie Investment Counsel now owns 68,489 shares of the restaurant operator’s stock valued at $10,614,000 after purchasing an additional 16,764 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in Wingstop by 113.8% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 11,800 shares of the restaurant operator’s stock worth $2,814,000 after buying an additional 6,280 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new position in Wingstop in the 4th quarter valued at approximately $1,502,000. Legato Capital Management LLC grew its stake in shares of Wingstop by 472.3% in the fourth quarter. Legato Capital Management LLC now owns 9,534 shares of the restaurant operator’s stock worth $2,274,000 after acquiring an additional 7,868 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Wingstop by 11.2% during the first quarter. Bank of New York Mellon Corp now owns 488,213 shares of the restaurant operator’s stock worth $75,658,000 after acquiring an additional 49,300 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada reduced their price target on Wingstop from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Guggenheim reduced their target price on shares of Wingstop from $255.00 to $215.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Bank of America lowered their price target on shares of Wingstop from $264.00 to $234.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. UBS Group restated a “neutral” rating on shares of Wingstop in a report on Tuesday, July 14th. Finally, DA Davidson lowered their target price on shares of Wingstop from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $241.81.

Wingstop Price Performance

Shares of Wingstop stock opened at $113.90 on Friday. The firm’s fifty day simple moving average is $146.48 and its 200-day simple moving average is $177.83. Wingstop Inc. has a 12 month low of $110.44 and a 12 month high of $345.81. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.33 and a beta of 1.81.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The firm had revenue of $185.56 million during the quarter, compared to analysts’ expectations of $190.25 million. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. Wingstop’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 EPS. Analysts anticipate that Wingstop Inc. will post 4.5 earnings per share for the current year.

Wingstop Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 5th. Stockholders of record on Saturday, August 15th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.2%. This is a positive change from Wingstop’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, August 14th. Wingstop’s payout ratio is currently 28.50%.

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.