Primecap Management Co. CA Buys Shares of 36,100 Wingstop Inc. $WING

Primecap Management Co. CA bought a new stake in Wingstop Inc. (NASDAQ:WING) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 36,100 shares of the restaurant operator’s stock, valued at approximately $6,260,000. Primecap Management Co. CA owned 0.13% of Wingstop at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. raised its position in Wingstop by 76.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock worth $33,000 after buying an additional 60 shares during the last quarter. GW&K Investment Management LLC boosted its holdings in shares of Wingstop by 75.7% in the fourth quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock valued at $45,000 after acquiring an additional 81 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Wingstop during the second quarter worth about $34,000. Geneos Wealth Management Inc. raised its holdings in Wingstop by 121.4% during the first quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock worth $49,000 after purchasing an additional 119 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new position in Wingstop during the fourth quarter worth about $63,000.

Wingstop Stock Down 1.4%

NASDAQ WING opened at $112.24 on Thursday. Wingstop Inc. has a fifty-two week low of $110.44 and a fifty-two week high of $342.10. The business has a fifty day moving average of $140.06 and a 200-day moving average of $167.97. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 1.35 and a beta of 1.81.

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

Wingstop Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, September 5th. Stockholders of record on Saturday, August 15th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Wingstop’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, August 14th. Wingstop’s payout ratio is presently 31.35%.

Analysts Set New Price Targets

Several equities analysts have issued reports on WING shares. Stephens reiterated an “overweight” rating and set a $200.00 target price on shares of Wingstop in a research report on Thursday, July 30th. Wells Fargo & Company decreased their target price on shares of Wingstop from $170.00 to $165.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Morgan Stanley cut their price target on shares of Wingstop from $255.00 to $238.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. BTIG Research decreased their price objective on shares of Wingstop from $305.00 to $265.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Robert W. Baird upgraded shares of Wingstop to a “strong-buy” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Wingstop currently has an average rating of “Moderate Buy” and a consensus target price of $241.81.

Wingstop Company 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.