Wingstop Inc. $WING Stock: Kornitzer Capital Management Inc. KS Increases Position

Kornitzer Capital Management Inc. KS lifted its stake in Wingstop Inc. (NASDAQ:WING) by 45.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,455 shares of the restaurant operator’s stock after acquiring an additional 2,955 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Wingstop were worth $996,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WING. BlackRock Inc. purchased a new stake in shares of Wingstop during the second quarter valued at about $481,314,000. State Street Corp boosted its holdings in shares of Wingstop by 2.0% in the 2nd quarter. State Street Corp now owns 863,951 shares of the restaurant operator’s stock valued at $149,751,000 after buying an additional 16,907 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Wingstop in the 2nd quarter worth approximately $1,558,000. TimesSquare Capital Management LLC purchased a new position in shares of Wingstop in the 2nd quarter worth approximately $15,874,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Wingstop in the 2nd quarter worth approximately $80,456,000.

Wingstop Stock Down 4.2%

Shares of Wingstop stock opened at $169.58 on Wednesday. The firm has a market capitalization of $4.59 billion, a P/E ratio of 39.81, a PEG ratio of 2.35 and a beta of 1.77. The company has a 50 day moving average price of $122.62 and a 200 day moving average price of $160.91. Wingstop Inc. has a 52 week low of $95.82 and a 52 week high of $302.80.

Wingstop (NASDAQ:WING) last released its earnings results on Wednesday, October 28th. The restaurant operator reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. The company had revenue of $185.13 million during the quarter, compared to analysts’ expectations of $192.89 million. Wingstop had a net margin of 16.03% and a negative return on equity of 15.80%. Wingstop’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. As a group, research analysts anticipate that Wingstop Inc. will post 4.19 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. Wingstop’s dividend payout ratio (DPR) is currently 30.99%.

Analyst Ratings Changes

A number of equities research analysts recently commented on WING shares. BMO Capital Markets reissued a “market perform” rating and set a $160.00 target price on shares of Wingstop in a research report on Thursday, October 29th. Mizuho cut their price target on shares of Wingstop from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, October 23rd. Benchmark reduced their price target on Wingstop from $285.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings lowered Wingstop from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Finally, Robert W. Baird lowered their price objective on Wingstop from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $219.56.

Insider Buying and Selling at Wingstop

In other news, COO Raj Kapoor sold 2,500 shares of Wingstop stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $163.61, for a total transaction of $409,025.00. Following the completion of the sale, the chief operating officer directly owned 1,659 shares in the company, valued at approximately $271,428.99. The trade was a 60.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Wesley Mcdonald sold 1,520 shares of the business’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $145.11, for a total transaction of $220,567.20. Following the sale, the director directly owned 3,986 shares in the company, valued at $578,408.46. This trade represents a 27.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.53% of the company’s stock.

Wingstop Company Profile

Wingstop Inc. is a restaurant company focused on chicken wings and related menu items. Its offerings include classic and boneless wings with a range of flavors, as well as chicken tenders, fries, dips and other sides. Customers can order through its restaurants and digital channels. Founded in 1994 in Garland, Texas, Wingstop has grown into an international brand. The company operates primarily through franchised restaurants in the United States and select international markets. Wingstop is headquartered in Addison, Texas.