Wingstop (NASDAQ:WING) Shares Down 2.2%

Shares of Wingstop Inc. (NASDAQ:WING) were down 2.2% during mid-day trading on Friday . The company traded as low as $415.00 and last traded at $417.20. Approximately 53,916 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 440,556 shares. The stock had previously closed at $426.46.

Wall Street Analyst Weigh In

A number of research firms recently commented on WING. Stifel Nicolaus upped their price objective on Wingstop from $420.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Raymond James upgraded shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Thursday, August 1st. The Goldman Sachs Group boosted their target price on shares of Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. TD Cowen reiterated a “buy” rating and issued a $450.00 price target on shares of Wingstop in a research report on Wednesday, July 31st. Finally, Piper Sandler boosted their price objective on shares of Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $379.53.

Wingstop Stock Down 2.9 %

The company has a market capitalization of $12.14 billion, a PE ratio of 151.77, a PEG ratio of 4.26 and a beta of 1.71. The company’s 50 day moving average is $385.89 and its two-hundred day moving average is $383.01.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.11. The firm had revenue of $155.70 million for the quarter, compared to analysts’ expectations of $146.04 million. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. The business’s revenue was up 45.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 earnings per share. Analysts forecast that Wingstop Inc. will post 3.78 EPS for the current year.

Wingstop Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were given a dividend of $0.27 per share. This is an increase from Wingstop’s previous quarterly dividend of $0.22. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Friday, August 16th. Wingstop’s dividend payout ratio is currently 38.43%.

Insider Buying and Selling

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the completion of the transaction, the senior vice president now owns 97 shares in the company, valued at $36,152.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wingstop

Institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management bought a new position in shares of Wingstop during the 2nd quarter valued at approximately $27,000. Rise Advisors LLC bought a new position in Wingstop during the first quarter valued at $29,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Wingstop in the second quarter valued at $34,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after acquiring an additional 35 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Wingstop by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after acquiring an additional 40 shares during the last quarter.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.