Comerica Bank raised its holdings in Wingstop Inc (NASDAQ:WING) by 1.8% during the first quarter, Holdings Channel reports. The institutional investor owned 28,998 shares of the restaurant operator’s stock after acquiring an additional 509 shares during the period. Comerica Bank’s holdings in Wingstop were worth $2,221,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in Wingstop by 16.1% in the 4th quarter. Bank of America Corp DE now owns 171,701 shares of the restaurant operator’s stock valued at $11,022,000 after buying an additional 23,781 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Wingstop by 26.8% in the 4th quarter. New York State Teachers Retirement System now owns 33,935 shares of the restaurant operator’s stock valued at $2,178,000 after buying an additional 7,170 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in Wingstop by 334.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,933 shares of the restaurant operator’s stock valued at $573,000 after buying an additional 6,875 shares during the last quarter. Penserra Capital Management LLC grew its holdings in Wingstop by 98.2% in the 4th quarter. Penserra Capital Management LLC now owns 163,416 shares of the restaurant operator’s stock valued at $10,489,000 after buying an additional 80,947 shares during the last quarter. Finally, Lisanti Capital Growth LLC grew its holdings in Wingstop by 245.8% in the 4th quarter. Lisanti Capital Growth LLC now owns 60,615 shares of the restaurant operator’s stock valued at $3,891,000 after buying an additional 43,085 shares during the last quarter.
Shares of WING stock opened at $80.15 on Friday. Wingstop Inc has a 12 month low of $47.83 and a 12 month high of $82.00. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 95.42, a PEG ratio of 5.57 and a beta of 0.85.
Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Tuesday, May 7th. The restaurant operator reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. Wingstop had a negative return on equity of 13.31% and a net margin of 13.52%. The company had revenue of $48.05 million during the quarter, compared to the consensus estimate of $45.68 million. During the same quarter last year, the company earned $0.25 EPS. The company’s quarterly revenue was up 28.5% on a year-over-year basis. On average, sell-side analysts expect that Wingstop Inc will post 0.74 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a $0.09 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.45%. Wingstop’s dividend payout ratio is currently 42.86%.
A number of analysts have issued reports on the company. BMO Capital Markets assumed coverage on Wingstop in a report on Tuesday, March 26th. They issued an “outperform” rating and a $71.76 target price on the stock. Piper Jaffray Companies started coverage on Wingstop in a report on Monday, May 13th. They issued an “overweight” rating and a $88.00 target price on the stock. Zacks Investment Research upgraded Wingstop from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Wells Fargo & Co raised their price objective on Wingstop from $76.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Finally, Stephens raised their price objective on Wingstop from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $70.99.
In related news, insider Lawrence Kruguer sold 1,466 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $79.72, for a total transaction of $116,869.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles R. Morrison sold 20,009 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $78.10, for a total value of $1,562,702.90. Following the transaction, the chief executive officer now owns 123,007 shares of the company’s stock, valued at approximately $9,606,846.70. The disclosure for this sale can be found here. Insiders sold a total of 49,918 shares of company stock valued at $3,649,754 in the last quarter. Corporate insiders own 1.00% of the company’s stock.
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 December 29, 2018, the company operated approximately 1,252 restaurants in the United States, Mexico, Panama, Singapore, Indonesia, the United Arab Emirates, the United Kingdom, Malaysia, Saudi Arabia, and Colombia.
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